Events, Presentations & Company Announcements, https://www.businesswire.com/news/home/20220512005303/en/. Based on our current federal net operating loss carryforwards, we anticipate paying minimal federal income taxes in 2022 and do not anticipate becoming a full cash taxpayer until at least 2024. Your email address will not be published. Cinema-style, wide-projection technology to fully immerse riders with high-tech digital and physical sets. Senior Vice President Six Flags Great America guests ride on Superman: Ride of Steel at the Gurnee amusement park. In addition, there were three additional days included in first quarter 2021 compared to first quarter 2022 due to adoption of a fiscal reporting calendar in the quarter commencing January 1, 2021, which accounted for 89 thousand additional guests in first quarter 2021.2. The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. Six Flags Offers Thrills, Inclusivity and Safety for Everyone. According to a press release, Pirates of Speelunker Cave will feature: What do you think about Six Flags Over Texas 2022 plans? Capital expenditures, net of property insurance recovery (capex) represents cash spent on property, plant and equipment, net of property insurance recoveries. March 11 - Aquaman: Power Wave opens at Six Flags Over Texas. Adjusted EBITDA minus capex, a non-GAAP measure, is defined as Adjusted EBITDA minus capital expenditures, net of property insurance recoveries. Modified EBITDA, as defined herein, may differ from similarly titled measures presented by other companies. RUMOR - Six Flags to Announce New Rides for 2021. The reduction in operating costs was driven by full-time headcount reductions, fewer total employee hours worked, and lower advertising costs. Six Flags America opens for the 2023 season. Dr. Diabolical's Cliffhanger is a Dive Coaster manufactured by Bolliger & Mabillard that opened on July 30, 2022 at Six Flags Fiesta Texas. These risks and uncertainties include, among others, factors impacting attendance, such as local conditions, natural disasters, contagious diseases, including COVID-19 and Monkeypox, or the perceived threat of contagious diseases, events, disturbances and terrorist activities; regulations and guidance of federal, state and local governments and health officials regarding the response to COVID-19 or other health emergencies such as Monkeypox, including with respect to business operations, safety protocols and public gatherings; economic impact of political instability and conflicts globally, including the war in Ukraine; recall of food, toys and other retail products sold at our parks; accidents or incidents involving the safety of guests and employees, or contagious disease outbreaks occurring at our parks or other parks in the industry and adverse publicity concerning our parks or other parks in the industry; availability of commercially reasonable insurance policies at reasonable rates; inability to achieve desired improvements and our financial performance targets; adverse weather conditions such as excess heat or cold, rain and storms; general financial and credit market conditions, including our ability to access credit or raise capital; the increased cost of capital due to raising interest rates; macro-economic conditions (including supply chain issues and the impact of inflation on customer spending patterns); changes in public and consumer tastes; construction delays in capital improvements or ride downtime; competition with other theme parks, waterparks and entertainment alternatives; dependence on a seasonal workforce; unionization activities and labor disputes; laws and regulations affecting labor and employee benefit costs, including increases in state and federally mandated minimum wages, and healthcare reform; environmental laws and regulations; laws and regulations affecting corporate taxation; pending, threatened or future legal proceedings and the significant expenses associated with litigation; cybersecurity risks; and other factors could cause actual results to differ materially from the companys expectations, including the risk factors or uncertainties listed from time to time in the companys filings with the Securities and Exchange Commission (the SEC). At 7:00 a.m. Central Time today, May 12, 2022, the company will host a conference call to discuss its first quarter 2022 financial performance. does anyone know. 01/31/2023. Here at Theme Park Tourist, we pride ourselves on giving you the news, we love keeping you up to date with all the latest announcements from your favorite theme parks across the world. We believe that Adjusted EBITDA is frequently used by all our sell-side analysts and most investors as their primary measure of our performance in the evaluation of companies in our industry. The $19.30 increase in guest spending per capita compared to first quarter 2021 was driven by a $10.33 increase in Admissions spending per capita and a $8.97 increase in In-park spending per capita. Paul Valade | Staff Photographer, 2022. Texans celebrate Cinco because a Texan led Mexicos victory. Under the plan, the cap increases by 2% each year of the seven-year agreement, or until the village returns a total of $4 million to Great America, whichever comes first. Were thinking there may be another PowerSplash in the future. Unlike previous Six Flags announcements, this was not a chain-wide announcement, and all attractions were announced on their own separate days. Deferred revenue was $127 million as of October 2, 2022, a decrease of $98 million, or 44%, from October 3, 2021. Your email address will not be published. Prices, operating schedule and park policies are subject to change without notice. During the second quarter 2021, the company received $11.3 million related to one of its terminated international development agreements in China. . Net debt as of April 3, 2022, calculated as total reported debt of $2,631 million less cash and cash equivalents of $252 million, was $2,379 million. Flags and signs of support for those countries are banned from tournament grounds. Six Flags 2022 Announcement Video (Unofficial) 1,089 views Jan 9, 2022 10 Dislike Share Coaster Delta 6 subscribers Six Flags' 2022 Announcement Video! Pirates of Speelunker Caveis actually anre-imagining of one of the parks first attractions calledThe Cave, which operated from 1964 until 1991. Learn more about us here. 07/06/2022. This was a year of transition for Six Flags, as we made bold changes to our business model in order to elevate the guest experience and to position the company for sustainable, long-term earnings growth, said Selim Bassoul, President and CEO. The village has given the . [email protected], Source: Six Flags Entertainment Corporation. The technical storage or access is strictly necessary for the legitimate purpose of enabling the use of a specific service explicitly requested by the subscriber or user, or for the sole purpose of carrying out the transmission of a communication over an electronic communications network. Real-time updates and all local stories you want right in the palm of your hand. Adjusted EBITDA is approximately equal to Parent Consolidated Adjusted EBITDA as defined in our secured credit agreement, except that Parent Consolidated Adjusted EBITDA excludes Adjusted EBITDA from equity investees that is not distributed to us in cash on a net basis and has limitations on the amounts of certain expenses that are excluded from the calculation. In addition, there were increased operating days in first half 2022 compared to the prior year period, which was negatively impacted by pandemic-related closures and operating restrictions. These risks and uncertainties include, among others, factors impacting attendance, such as local conditions, natural disasters, contagious diseases, including COVID-19, or the perceived threat of contagious diseases, events, disturbances and terrorist activities; regulations and guidance of federal, state and local governments and health officials regarding the response to COVID-19, including with respect to business operations, safety protocols and public gatherings; political or military events; recall of food, toys and other retail products sold at our parks; accidents or incidents involving the safety of guests and employees, or contagious disease outbreaks occurring at our parks or other parks in the industry and adverse publicity concerning our parks or other parks in the industry; availability of commercially reasonable insurance policies at reasonable rates; inability to achieve desired improvements and our financial performance targets; adverse weather conditions such as excess heat or cold, rain and storms; general financial and credit market conditions, including our ability to access credit or raise capital; economic conditions (including customer spending patterns); changes in public and consumer tastes; construction delays in capital improvements or ride downtime; competition with other theme parks, waterparks and entertainment alternatives; dependence on a seasonal workforce; unionization activities and labor disputes; laws and regulations affecting labor and employee benefit costs, including increases in state and federally mandated minimum wages, and healthcare reform; environmental laws and regulations; laws and regulations affecting corporate taxation; pending, threatened or future legal proceedings and the significant expenses associated with litigation; cybersecurity risks; and other factors could cause actual results to differ materially from the companys expectations, including the risk factors or uncertainties listed from time to time in the companys filings with the Securities and Exchange Commission (the SEC). Reference is made to a more complete discussion of forward-looking statements and applicable risks contained under the captions "Cautionary Note Regarding Forward-Looking Statements" and "Risk Factors" in our Annual and Quarterly Reports on Forms 10-K and 10-Q, and our other filings and submissions with the SEC, each of which are available free of charge on the companys investor relations website at investors.sixflags.com and on the SECs website at www.sec.gov. View source version on businesswire.com: https://www.businesswire.com/news/home/20221017005760/en/, Stephen R. PurtellSenior Vice PresidentCorporate Communications, Investor Relations and [email protected]. Forward-looking statements include all statements that are not historical facts and often use words such as "anticipates," "intends," "plans," "seeks," "believes," "estimates," "expects," "may," "should," "could" and variations of such words or similar expressions. Splash Dayz will be open May 20 from 11 a.m. to 3 p.m. then open for the season May 27 from 10 a.m. to 8 p.m. Fridays-Sundays and 11 a.m. to 8 p.m. Tuesdays through Thursdays. The park this morning announced that . March 19 & 20 It's never too soon to begin planning for more thrills in 2022! Six Flags Over Texas confirmed . The park, owned and operated by Six Flags Theme Parks, will be open daily starting May 27 from 11 a.m. to 7 p.m. on weekends and 11 a.m. to 6 p.m. on weekdays. Python Plunge opens at Six Flags White Water. Title. Six Flags Entertainment Corporation (NYSE: SIX), the worlds largest regional theme park company and the largest operator of waterparks in North America, today reported third quarter 2022 financial results. April 22 . Comparable periods are January 1 through October 3, 2021, compared to January 3 through October 2, 2022, resulting in three additional days in 2021. The $8.94 increase in guest spending per capita compared to third quarter 2021 was driven by a $6.23 increase in Admissions spending per capita and a $2.71 increase in In-park spending per capita. Six Flags parks are located to serve each of the top 11 designated market areas as identified by A.C. Nielsen Media Research, and serves 145 million people in a 50 mile radius, and 250 million . The company had net income of $96 million in the first nine months 2022, compared to $132 million in the prior year period. We believe that Adjusted EBITDA minus capex is frequently used by all our sell-side analysts and most investors as their primary measure of our performance in the evaluation of companies in our industry. Document. Six Flags Great America in Gurnee will open on weekends and select weekdays starting Saturday through May 23 when daily admission begins. All rights reserved. The Cave featured original characters called Speelunkers that were created exclusively for Six Flags Over Texas. Six Flags Q4 2022 and 2022 Year End Report Results City of Frisco Votes To Go Ahead With Universal Studios Texas Park Plans . Six Flags St. Louis opens for the 2023 season. Adjusted EBITDA is approximately equal to Parent Consolidated Adjusted EBITDA as defined in our secured credit agreement, except that Parent Consolidated Adjusted EBITDA excludes Adjusted EBITDA from equity investees that is not distributed to us in cash on a net basis and has limitations on the amounts of certain expenses that are excluded from the calculation. Now you have to enroll into the rewards program and collect points through purchasing items at your park, visiting and so on. Document. Reference is made to a more complete discussion of forward-looking statements and applicable risks contained under the captions "Cautionary Note Regarding Forward-Looking Statements" and "Risk Factors" in our Annual and Quarterly Reports on Forms 10-K and 10-Q, and our other filings and submissions with the SEC, each of which are available free of charge on the companys investor relations website at investors.sixflags.com and on the SECs website at www.sec.gov. However, because these non-GAAP financial measures are not determined in accordance with GAAP, they are susceptible to varying calculations, and not all companies calculate these measures in the same manner. In addition, the instruments governing our indebtedness use Adjusted EBITDA to measure our compliance with certain covenants and, in certain circumstances, our ability to make certain borrowings. See the following financial statements and Note 4 to those financial statements for a discussion of Adjusted EBITDA (a non-GAAP financial measure) and its reconciliation to net income (loss). ARLINGTON, Texas, October 17, 2022--(BUSINESS WIRE)--Six Flags Entertainment Corporation (NYSE: SIX) today announced it will release third quarter financial results before the market opens on Thursday, November 10, 2022. The market expects Six Flags (SIX) to deliver a year-over-year decline in earnings on lower revenues when it reports results for the quarter ended March 2023. By rejecting non-essential cookies, Reddit may still use certain cookies to ensure the proper functionality of our platform. Corporate Communications, Investor Relations and Treasurer We believe that these non-GAAP financial measures provide important and useful information for investors to facilitate a comparison of our operating performance on a consistent basis from period to period and make it easier to compare our results with those of other companies in our industry. Revenues and expenses of international operations are converted into U.S. dollars on an average basis as provided by GAAP. We prepare our financial statements in accordance with United States generally accepted accounting principles ("GAAP"). Date. We are cashless at the gate. All rights reserved. Management uses non-GAAP measures for budgeting purposes, measuring actual results, allocating resources and in determining employee incentive compensation. The main announcement: Pirates of Speelunker Cave, isa re-imagined boat-like ride that will place guests squarely in the middle of a pirate treasure hunt thwarted by resident Speelunkers. This will open in early 2022. Six Flags Sets Date to Announce Second Quarter 2022 Earnings. Hurricane Harbor will open May 20 and 21 from 11 a.m. to 6 p.m. The park will extend its weekday hours to close at 7 p.m. in mid June. As of October 2, 2022, the company had total reported debt of $2,389 million, and cash or cash equivalents of $73 million. Processing fees apply to online orders. Admissions revenue per capita is calculated by dividing Park admission revenue by total attendance. Snake season in North Texas is here. Karie Angell Luc/for the Daily Herald, 2021, Six Flags Great America in Gurnee will open on weekends and select weekdays starting Saturday through May 23 when daily admission begins. Maxx Force, which debuted in July 2019, remains the park's newest roller coaster. 2022 Six Flags. About Six Flags Entertainment Corporation, Six Flags Entertainment Corporation is the worlds largest regional theme park company with 27 parks across the United States, Mexico and Canada. Cash taxes represents statutory taxes paid, primarily driven by Mexico and state level obligations. This announcement was praised for being a "perfect fit" for the Arlington, TX park. Six Flags Entertainment Corporation (NYSE: SIX), the worlds largest regional theme park company and the largest operator of waterparks in North America, today reported first quarter 2022 financial results. Heres where to find bands, buffets, margaritas and Cinco de Mayo fun, Karl Lagerfelds Interior Design Projects Reveal His Encyclopedic Mind, 1000-Lb. The ride replaced the Sundance Theatre and celebrates the park's 30th year anniversary. 2022 Six Flags. In 2018, the village board approved a plan to cap the amusement tax revenue the village receives from the park at $2.8 million and give any taxes collected above that threshold back to Great America. "Adjusted EBITDA," a non-GAAP measure, is defined as Modified EBITDA minus the interests of third parties in the Modified EBITDA of properties that are less than wholly owned (consisting of Six Flags Over Georgia, Six Flags White Water Atlanta and Six Flags Over Texas). A list of events in 2022 related to Six Flags. ARLINGTON, Texas, October 17, 2022 -- ( BUSINESS WIRE )--Six Flags Entertainment Corporation (NYSE: SIX) today announced it will release third quarter financial results before the market. With a top speed of 63 mph, this launch-style water coaster will take riders to 90-degree angles, across more than 700 feet of track. April 30 Six Flags Hurricane Harbor Splashtown re-opens for the 2022 season. Only eleven parks announced their plans for the 2022 season, with two of them remaining delayed or being cancelled. Our board of directors and managed use Adjusted EBITDA minus capex to measure our performance and our current management incentive compensation plans are based largely on Adjusted EBITDA minus capex. Do you know what to do if you come across one? Six Flags has 27 parks across the United States, Mexico and Canada with world-class coasters, family rides for all ages, up-close animal encounters and thrilling water parks. Adjusted EBITDA minus capex, as computer by us, may not be comparable to similar metrics used by other companies in our industry. We believe that Adjusted EBITDA is frequently used by all our sell-side analysts and most investors as their primary measure of our performance in the evaluation of companies in our industry. Total revenue for third quarter 2022 decreased $133 million, or 21%, compared to third quarter 2021, driven by lower attendance partially offset by higher per capita spending. Unlike previous Six Flags announcements, this was not a chain-wide announcement, and all attractions were announced on their own separate days. Learn more about our park safety protocols and procedures such as new cashless payments. The village has given the park around $387,000 total in 2018, 2019 and 2021. By accepting all cookies, you agree to our use of cookies to deliver and maintain our services and site, improve the quality of Reddit, personalize Reddit content and advertising, and measure the effectiveness of advertising. Gurnee finance director Brian C. Gosnell said Thursday the village anticipates issuing $120,000 to the park as a result of the revenue it brought in during the 2022 season. Earlier this year, Six Flags Fiesta Texas welcomed a groundbreaking roller coaster, Dr. Diabolical's Cliffhanger, making 2023 the second . Under the plan, the cap increases by 2% each year of the seven-year agreement, or until the village returns a total of $4 million to Great America, whichever comes first. Six Flags Over Texas will make over one of its classic dark rides for 2022. The park's 2023 season opens Saturday. The technical storage or access is required to create user profiles to send advertising, or to track the user on a website or across several websites for similar marketing purposes. The increase in Admissions spending per capita was primarily driven by higher realized ticket pricing and a higher mix of single day tickets. . Privacy Policy. Prices, operating schedule and park policies are subject to change without notice. Corporate Communications, Investor Relations and Treasurer [email protected], Source: Six Flags Entertainment Corporation. A group rides a tube on the Tornado ride Wednesday, June 1, 2022, at Hurricane Harbor in Arlington. Jeffrey Siebert (@jeffrey_siebert) December 10, 2022. Required fields are marked *. At 7:00 a.m. Central Time today, May 12, 2022, the company will host a conference call to discuss its first quarter 2022 financial performance. Reddit and its partners use cookies and similar technologies to provide you with a better experience. [1] Due to the COVID-19 pandemic, some rides planned to have opened in 2020 were delayed to 2022 or later. Without a subpoena, voluntary compliance on the part of your Internet Service Provider, or additional records from a third party, information stored or retrieved for this purpose alone cannot usually be used to identify you. As the worlds first regional theme park, Six Flags Over Texas has built a solid reputation of providing innovative thrills and lifelong memories for generations of families, said Six Flags Over Texas Park President Ron McKenzie. Date. These statements may involve risks and uncertainties that could cause actual results to differ materially from those described in such statements. Weighted-average common shares outstanding: Net (loss) income per average common share outstanding: (Amounts in thousands, except share data), Prepaid expenses and other current assets, Intangible assets, net of accumulated amortization of $266, $261 and $244 as of April 3, 2022, January 2, 2022 and April 4, 2021, respectively, Accrued compensation, payroll taxes and benefits, Common stock, $0.025 par value, 280,000,000 shares authorized; 86,248,545, 86,162,879 and 85,369,434 shares issued and outstanding at April 3, 2022, January 2, 2022 and April 4, 2021, respectively, Accumulated other comprehensive loss, net of tax, Total liabilities and stockholders' deficit.
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