Six Flags (NYSE:FUN) reported second-quarter revenue of $930 million, falling short of the $1.03 billion consensus forecast. Adjusted EBITDA came in at $243 million, which includes $62 million contributed by legacy Six Flags operations after the recent merger.
Shares dipped 0.7% in premarket trading on Wednesday by 6:14 a.m. ET.
Looking forward, the company now projects full-year adjusted EBITDA between $860 million and $910 million.
“The start of the 2025 season, including our second quarter results reported today, fell significantly short of our expectations, a disappointing outcome given the solid progress we achieved post-merger with smart, early-stage initiatives coupled with a very compelling capital program,” stated CEO Richard Zimmerman.
Attendance during the five weeks ending August 3 reached 11 million guests, up 1% year-over-year, while in-park per capita spending declined about 4%.
Six Flags attributed the second-quarter performance setbacks to adverse weather conditions across most of its key markets, including prolonged rain, intense heat, and severe storms.
In conjunction with the results, the company announced Zimmerman will step down as president and CEO by the end of 2025. He will remain in his role until a successor is found and will continue serving on the board.
The board has initiated a search for his replacement, considering candidates both internally and externally.
This content is for informational purposes only and does not constitute financial, investment, or other professional advice. It should not be considered a recommendation to buy or sell any securities or financial instruments. All investments involve risk, including the potential loss of principal. Past performance is not indicative of future results. You should conduct your own research and consult with a qualified financial advisor before making any investment decisions.