Six Flags Entertainment Company has reported its financial results for the fourth quarter of 2022 and the full year, revealing a decline in revenue due to lower attendance.
For the fourth quarter of last year, Six Flags reported revenue of $280 million, net income of $13m, and record adjusted EBITDA of $99m.
For the full year, the company reported revenue of $1.3 billion, net income of $109m, and adjusted EBITDA of $465m.
“We are pleased to have delivered record fourth quarter adjusted EBITDA, which provides evidence that our new strategy and new culture are beginning to take hold,” said Selim Bassoul, Six Flags‘ president and CEO.
Record Q4 adjusted EBITDA
Total revenue for Q4 dropped by $37m compared to the fourth quarter of 2021 due to lower attendance.
The attendance decline was driven by an increase in ticket prices, the elimination of free tickets, fewer discounts and less operating days.
Six Flags had a net income of $13m in Q4, compared to a net loss of $2m in the fourth quarter of 2021. Adjusted EBITDA was $99m, an increase of $4m compared to Q4 2021.
Total revenue for the full year decreased by $139m compared to 2021. Again, this was due to lower attendance, driven by higher prices, the removal of free tickets, and fewer discounts.
Six Flags had a net income of $109m in 2022, compared to $130m in the prior year. Adjusted EBITDA was $465m, a decrease of $33m compared to 2021.
“I’m proud of our team’s commitment to elevating the guest experience,” Bassoul added.
“Our team is hard at work developing an exciting lineup of new events, rides and attractions for 2023, as we look to build on our success in the fourth quarter.”
Six Flags’ new offerings include Kid Flash Cosmic Coaster at Six Flags Fiesta Texas and Six Flags Over Georgia, Aquaman: Power Wave at Six Flags Over Texas, and Rookie Racer at Six Flags St. Louis.
Images: Six Flags
