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6h ago

Six Flags Posts EPS Beat, Cuts Outlook as Jana-Led Investor Group Emerges

Management cites ineffective advertising that weighed on results, prompting a lower full-year adjusted EBITDA target.

Riders scream aboard Dr. Diabolical’s Cliffhanger on the first day the ride opened at Six Flags Fiesta Texas in July 2022. Its parent company reported that revenue fell 2% during the third quarter of 2025.
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Overview

  • Adjusted EPS came in at $3.28 versus $2.20 expected, while revenue of $1.318 billion missed the $1.333 billion consensus.
  • Attendance rose 1% to 21.1 million and adjusted EBITDA was $555 million, slightly below last year.
  • In-park per-capita spending fell 4% and admissions per-capita dropped 8%, as out-of-park revenue grew 6% to $108 million on stronger sponsorships.
  • The company lowered its 2025 adjusted EBITDA guidance to $780 million–$805 million from $860 million–$910 million.
  • Six Flags is engaging with a JANA Partners–led investor group that includes Travis Kelce and is exploring a branding partnership, and executives said they may divest underperforming parks.