CFRA Downgrades Six Flags Entertainment (SIX) to Hold
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Six Flags (SIX) Trends Down More that 20% After 2Q Report
August 11, 2022 12:16 PM EDTSix Flags Entertainment Corporation (NYSE: SIX) is down 22.5% in mid-day trading Thursday after the company reported 2Q results and offered forward-looking commentary during the earnings call.
The amusement park company reported 2Q sales of $435 million, $89 million short of the consensus projection of $524 million. 2Q attendance of 6.7M visits was 1.2M short of the Streets ~7.9M visit estimate. This is down 22% Y/Y and equates to a 37% decline vs. 2Q19.
SIX reported an adjusted EBITDA of $155 million, missing the analyst consensus of $198 million. 1H22 EBITDA is tracking -$8.3M vs. 2019, tracking... More
