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Earnings analysis · 10-Q

FUN earnings analysis

Filed May 7, 2026 · Our reading of the company's report

The latest report

Six Flags Entertainment Corporation experienced a strong revenue increase in Q1 2026, with reported net revenues of $225.6 million, up 11.7% from $202.1 million in the prior year. However, net loss widened to $268.6…

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Six Flags Entertainment Corporation experienced a strong revenue increase in Q1 2026, with reported net revenues of $225.6 million, up 11.7% from $202.1 million in the prior year. However, net loss widened to $268.6 million, compared to a loss of $219.7 million a year prior, reflecting challenges despite higher attendance and per capita spending. Management remains optimistic about Q2, citing increased attendance and engagement from new offerings.

Read the original on SEC.gov

Reported figures

Earnings per share
$-2.65

What stood out

  • Strong Revenue Growth

    Q1 2026 net revenues increased by 11.7% to $225.6 million, compared to $202.1 million in Q1 2025.

  • Improved Attendance and Spending

    Attendance rose by 3.7% to 2.9 million guests, with per capita spending rising 5.9% to $69.26.

  • Reduced Operating Costs

    Operating costs decreased by $50.4 million, a 12.2% decline year-over-year, showcasing improved cost management.

  • Impairment Losses Recorded

    The company recorded a goodwill impairment of $38.6 million for Q1 2026 due to lower forecasts.

  • Positive Q2 Outlook

    Management anticipates increased guest engagement and profitability driven by season pass initiatives and successful attendance trends.

  • Cash Flow Improvement

    Despite a negative operating cash flow of $83.2 million, net cash increased by $25.4 million, showing improved liquidity.

What to watch

  • Widened Net Loss

    Net loss widened to $268.6 million in Q1 2026 from $219.7 million a year prior, indicating ongoing financial challenges.

  • Seasonal Operating Conditions

    With only 7% of net revenues from Q1, the company faces risks from seasonal fluctuations affecting future earnings.

  • Increased Operating Days Risk

    Operating days decreased to 369 from 393 in the prior year due to the removal of winter events, limiting attendance opportunities.

Management's outlook

Outlook deferred to earnings press release / call.

This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.