Six Flags Entertainment Corporation has reported the pre-merger second-quarter results for legacy Six Flags and Cedar Fair theme parks.
The merger of Cedar Fair and Six Flags took place on 1 July, after the second quarter closed. Six Flags Entertainment Corporation said in its financial results that two companies are integrating successfully, with early strategic initiatives already implemented.
In the second quarter of this year, revenue at Cedar Fair parks was $572 million, an increase of 14 percent from Q2 last year.
Including merger-related costs, income was $56m, an increase of 4 percent. Adjusted EBITDA was $205m, a 36 percent increase from the second quarter of 2023.
Attendance at legacy Cedar Fair parks in the second quarter of this year was a record 8.6 million guests, a 17 percent increase.
As for legacy Six Flags parks, revenue decreased by 1 percent to $438m compared to the prior-year quarter. Attendance was 6.9 million guests, a decrease of 2 percent.
Including $1m of merger-related costs, income was $34m, an increase of 66 percent. Adjusted EBITDA was $138m, a 14 percent drop.
Richard Zimmerman, president and CEO of Six Flags Entertainment Corporation, said in a statement he is “extremely pleased with the second quarter performance of the legacy Cedar Fair portfolio, which produced record levels of attendance and net revenues”.
The combined portfolio of parks, he said, is “well positioned to deliver a strong full-year performance in 2024”.
Final results for legacy parks
On the new company, he added: “Since completing the merger on July 1, we have quickly implemented initial integration plans to start to realize the meaningful synergy and growth opportunities now available to us.
“The merits and strategic rationale of the merger remain clear, and we are focused on pursuing its benefits and unlocking the full potential of our combined organization.
“We have a highly diversified footprint with geographic scale never before seen in the regional amusement parks space.”
In July, the new Six Flags made its first post-merger change in operations by eliminating a surcharge fee on in-park food, beverage and retail purchases at participating legacy Six Flags parks.
Images courtesy of Six Flags Entertainment Corporation
