FUN · Six Flags Entertainment Corporation

Six Flags Entertainment Corporation reported first quarter 2026 results that showed solid top-line growth despite the seasonally low operating period. Net revenues increased 12% to $225.6 million, driven by a 4% increase in attendance to 2.9 million visits and a 6% rise in per capita spending to $69.26. The per capita improvement reflected effective ticket pricing initiatives, improved ticket mix, and higher guest spending on food and beverage. Operating days decreased to 369 from 393, primarily due to the removal of four winter holiday events, which reduced days in early January. Excluding those incremental days, attendance would have been up 7% year-over-year. The net loss attributable to the company widened to $269 million from $220 million, largely due to the seasonal nature of the business where most parks are closed in the first quarter. However, Adjusted EBITDA loss improved significantly to $123 million from $171 million, a $48 million improvement, driven by a 12% reduction in operating costs and expenses. Management highlighted disciplined execution and cost efficiencies, including planned reductions in full-time wages, maintenance costs, and operating supplies. CEO John Reilly noted encouraging demand trends in the second quarter, with early positive response to changes in season pass and membership offerings. The active pass base grew 6% on a same-park basis through the end of April, supporting future attendance. The company also announced leadership transitions, appointing Amy Martin Ziegenfuss as Chief Marketing Officer, Christopher Bennett as Chief Legal and Compliance Officer, and Dave Hoffman as interim finance lead, effective June 3, 2026. Overall, the results demonstrate progress in operational improvements and cost management, though the most important operating periods lie ahead in the summer season.