Attendance at Six Flags theme parks increased 6% year-over-year for the three months ending July 2, the company reported today.
Six Flags attributed the increase to higher sales of season passes, which had lower average prices this quarter when compared to the year prior. The lower prices on passes and higher number of visitors coming into the park with season passes led to lower per capita revenue on admissions and in-park spending, however. Total guest spending per capita was down 5% to $60.76 for the quarter.
Overall, though, the 6% increase in attendance during the three month period, to a total of 7.1 million visitors, helped push Six Flags' revenue up 2%, to $444 million for the quarter. Net income was down 55%, however, to $21 million, which the company attributed to higher interest costs and adjustments to its self-insurance reserve.
Adjusted EBITDA was up 5% year-over-year for the quarter, to $161 million.
"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," President and CEO Selim Bassoul said. "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."
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