Six Flags (NYSE:SIX) said its stock slipped after the amusement park missed on second-quarter estimates. The company reported adjusted earnings of 25 cents per share on $444 million in revenue, while analysts polled by Refinitiv forecast 78 cents and $459 million.
According to CEO Selim Bassoul, “Following a year of transition, our strategy is taking hold. Despite a challenging weather backdrop in the first half of the year, we are seeing a return to a solid growth trajectory in attendance, revenue and earnings. I am pleased to see our team members executing so well towards our strategic objectives. Delighting our guests is our number one priority, and this season, we have invested significantly in park infrastructure and beautification, and we have introduced an exciting lineup of new events, including Flavors of the World and Summer Nights Spectacular. Looking ahead, we are optimistic about the remainder of the season, with major investments in our Oktoberfest Food Festival, Kids Boo Fest, Fright Fest, and Holiday in the Park events; and looking further ahead to 2024, we will be investing heavily in new marketable attractions, to further elevate our position as a leader in thrills.”
SIX shares handed back 87 cents, or 4%, to $20.95.
