Six Flags has posted its financial results for the second quarter of 2023, reporting increases in attendance and revenue.
The company’s revenue in Q2 2023 was $444 million, while net income was $21m and adjusted EBITDA was $161m.
“Following a year of transition, our strategy is taking hold,” said Selim Bassoul, president and CEO of Six Flags.
“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.
“I am pleased to see our team members executing so well towards our strategic objectives.”
Bassoul said the company has “invested significantly in park infrastructure and beautification” and has introduced several new events. In 2024, Six Flags will be “investing heavily in new marketable attractions”, he added.
Total revenue for the second quarter of this year increased by $8m (2 percent) compared to the same period last year. This partly was driven by higher attendance at Six Flags’ theme parks, which in turn was driven primarily by increased pass sales.
Net income was $21m in the second quarter of 2023, compared to net income of $45m in Q2 2022. Adjusted EBITDA in Q2 2023 was $161m, a $7m increase from the prior year.
Six Flags transition
Elsewhere, major theme park operators SeaWorld and Cedar Fair have reported declines in attendance and revenue in their financial results for the second quarter of 2023. Both companies have attributed the lower results to adverse weather.
NBCUniversal’s parent company Comcast Corporation performed well in Q2 this year, and Disney’s theme parks segment reported a 13 percent increase in revenue to $8.3bn in the third quarter of this year, despite lower attendance at Florida’s Disney World.
In more news, Six Flags has teamed up with Coca-Cola to open new gaming houses inside several of its parks this summer.
