Sixty Six Capital Inc. Q1 FY2025 Earnings Call

· Earnings call transcript and AI-powered summary

  • Operating Loss & Seasonality: As expected for a seasonal business, Six Flags reported an operating loss in Q1 2025. The loss was slightly greater than in Q1 2024, driven by reduced operating days due to inclement weather and strategic calendar shifts (like moving the Boysenberry Festival to Q2).
  • Revenue and Attendance Trends: Q1 attendance represented ~5.5% of expected full-year visitors (vs. a historical average of ~7%). Q1 revenue tracked at ~6% of the full-year outlook. April attendance was up ~1% YoY despite poor weather; adjusting for weather, attendance would have been up ~8%.
  • Season Pass Momentum: April season pass sales improved, narrowing the YoY sales gap to 2% in units and 3% in value. Legacy Cedar Fair parks are achieving 3–4% average price increases, while legacy Six Flags parks maintained flat pricing due to structural and mix changes.
  • Costs & Synergies: Six Flags expects 2025 full-year operating costs and expenses to decline more than 3% YoY (excluding COGS and merger integration costs). This includes $70M synergies for 2025, completing the $120M target 6 months early. An additional $60M in savings is anticipated by end of 2026 from organizational restructuring and tech integration.

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Operator: Ladies and gentlemen, thank you for standing by. My name is Abby, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Six Flags Entertainment Corporation First Quarter 2025 Earnings Call. [Operator Instructions]. And I would now like to turn the conference over to Six Flags Management. Go ahead, please. Michael Russell: Thanks, Abby, and good morning, everyone. My name is Michael Russell, Corporate Director of Investor Relations for Six Flags. Welcome to today's earnings call to review our 2025 first quarter financial results for Six Flags Entertainment Corporation. Earlier this morning, we distributed via wire service our earnings press release a copy of which is also available under the News tab of our Investor Relations website at investors.sixflags.com. Before we begin, I need to remind you that comments made during this call will include forward-looking statements within the meaning of the federal securities laws. These statements may involve risks and uncertainties and that could cause actual results to differ from those described in such statements. For a more detailed discussion of these risks, you may refer to the company's filings with the SEC. In compliance with the SEC's Regulation FD, this webcast is being made available to the media and general public as well as analysts and investors. Because the webcast is open to all constituents and prior notification has been widely and unselectively disseminated, all

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