The decrease was primarily due to the deferral of revenue in the prior year period from guests whose benefits were extended from 2020 into 2021 due to the pandemic. does anyone know. Total guest spending per capita is calculated by dividing the sum of Park admissions revenue and Park food merchandise and other revenue by total attendance. Revenues and expenses of international operations are converted into U.S. dollars on an average basis as provided by GAAP. No hidden fees.. See the following financial statements and Note 4 to those financial statements for a discussion of Adjusted EBITDA (a non-GAAP financial measure) and its reconciliation to net income (loss). Let us know in the comments section below! The call is accessible through either the Six Flags Investor Relations website at investors.sixflags.com or by dialing 1-855-889-1976 in the United States or +1-937-641-0558 outside the United States . Although Splash Dayz will be closed Mondays, the park will be open for Memorial Day on May 29 from 11 a.m. to 8 p.m. NRH2O Family Water Park will be open for weekends only starting May 13 from 11 a.m. to 6 p.m. before opening for the season May 27. Six Flags Over Georgia and Six Flags White Water Announce Fall 2022 and 2023 Season Event Lineup Featuring Nine New Festivals. Adjusted EBITDA is approximately equal to Parent Consolidated Adjusted EBITDA as defined in our secured credit agreement, except that Parent Consolidated Adjusted EBITDA excludes Adjusted EBITDA from equity investees that is not distributed to us in cash on a net basis and has limitations on the amounts of certain expenses that are excluded from the calculation. Reference is made to a more complete discussion of forward-looking statements and applicable risks contained under the captions "Cautionary Note Regarding Forward-Looking Statements" and "Risk Factors" in our Annual and Quarterly Reports on Forms 10-K and 10-Q, and our other filings and submissions with the SEC, each of which are available free of charge on the companys investor relations website at investors.sixflags.com and on the SECs website at www.sec.gov. We believe that these non-GAAP financial measures provide important and useful information for investors to facilitate a comparison of our operating performance on a consistent basis from period to period and make it easier to compare our results with those of other companies in our industry. In the first nine months 2022, the company invested $73 million in new capital, net of insurance recoveries. In first quarter 2022, the company invested $29 million in new capital, net of insurance recoveries. Management uses non-GAAP measures for budgeting purposes, measuring actual results, allocating resources and in determining employee incentive compensation. Paddock Publications, Inc. is an Employee-Owned Company. Maxx Force, which debuted in July 2019, remains the park's newest roller coaster. Adjusted EBITDA minus capex as defined herein may differ from similarly titled measures presented by other companies. document.getElementById( "ak_js_1" ).setAttribute( "value", ( new Date() ).getTime() ); This site uses Akismet to reduce spam. The park, owned and operated by Six Flags Theme Parks, will be open daily starting May 27 . [1] These non-GAAP financial measures are presented as supplemental information and not as alternatives to any GAAP financial measures. The increase in Admissions spending per capita was primarily driven by higher realized ticket pricing and revenue from memberships beyond the initial 12-month commitment periodin first quarter 2021, the company did not recognize membership revenue from members whose home park was closed due to the pandemic. Do you know what to do if you come across one? Your email address will not be published. Modified EBITDA, a non-GAAP measure, is defined as our consolidated income (loss) from continuing operations: excluding the following: the cumulative effect of changes in accounting principles, discontinued operations gains or losses, income tax expense or benefit, restructure costs or recoveries, reorganization items (net), other income or expense, gain or loss on early extinguishment of debt, equity in income or loss of investees, interest expense (net), gain or loss on disposal of assets, gain or loss on the sale of investees, amortization, depreciation, stock-based compensation, and fresh start accounting valuation adjustments. Comparable periods are January 1 through October 3, 2021, compared to January 3 through October 2, 2022, resulting in three additional days in 2021. All rights reserved. By providing these measures, we provide our investors with the ability to review our performance in the same manner as our management. The call is accessible through either the Six Flags Investor Relations website at investors.sixflags.com or by dialing 1-855-889-1976 in the United States or +1-937-641-0558 outside the United States and requesting the Six Flags earnings call or conference ID 3749243. Six Flags Announces 2022-2023 Special Events Lineup Adjusted EBITDA minus capex as defined herein may differ from similarly titled measures presented by other companies. Six Flags Q4 2022 and 2022 Year End Report Results City of Frisco Votes To Go Ahead With Universal Studios Texas Park Plans . The higher In-park spending reflects the companys in-park pricing initiatives. Cinema-style, wide-projection technology to fully immerse riders with high-tech digital and physical sets. Six Flags Offers Thrills, Inclusivity and Safety for Everyone. For more information, visit www.sixflags.com. The park announced today that it will . Learn more about us here. Adjusted EBITDA minus capex, as computer by us, may not be comparable to similar metrics used by other companies in our industry. When reviewing a non-GAAP financial measure, we encourage our investors to fully review and consider the related reconciliation as detailed below. 5-min read. The $8.94 increase in guest spending per capita compared to third quarter 2021 was driven by a $6.23 increase in Admissions spending per capita and a $2.71 increase in In-park spending per capita. Were thinking there may be another PowerSplash in the future. Harry Styles' Next 'Harry's House' Single Announced - Billboard The new ride would be a dual-tracked, launched roller coaster called "Robin & Superboy: The Escape", featuring linear induction motor (LIM) technology for its launch system. Adjusted EBITDA was $366 million, a decrease of $38 million compared to the first nine months 2021, driven by lower revenues partially offset by a reduction in expenses. +1-972-595-5180 The increase in operating days was offset by a visitation shift of approximately 200 thousand guests from the first quarter to the second quarter 2022 due to the later timing of the Easter holiday, which caused some schools to schedule spring-break vacations in the second quarter of 2022 versus the first quarter in 2021. RUMOR - Six Flags to Announce New Rides for 2021. If you have the newer Annual passes like . Get your first thrills of the season, March 19 and 20. Earlier this year, Six Flags Fiesta Texas welcomed a groundbreaking roller coaster, Dr. Diabolical's Cliffhanger, making 2023 the second . Capital expenditures, net of property insurance recovery (capex) represents cash spent on property, plant and equipment, net of property insurance recoveries. "Adjusted EBITDA," a non-GAAP measure, is defined as Modified EBITDA minus the interests of third parties in the Modified EBITDA of properties that are less than wholly owned (consisting of Six Flags Over Georgia, Six Flags White Water Atlanta and Six Flags Over Texas). Adjusted EBITDA minus capex, as computer by us, may not be comparable to similar metrics used by other companies in our industry. The ride is steampunk-themed and is based on Dr. Diabolical's plan of keeping her creatures during Fright Fest eternal, hence the creation of the "Cliffhanger . Maxx Force debuted in July 2019 and remains the park's newest roller coaster. Remember to buy your parking online before you visit. At esix Gaming, we cater to all types of gamers. Our board of directors and managed use Adjusted EBITDA minus capex to measure our performance and our current management incentive compensation plans are based largely on Adjusted EBITDA minus capex. See copyright and trademarks. The theme park was closed throughout 2020 due to health concerns stemming from the COVID-19 pandemic. The shocking amount some people have saved, and why speaking with a financial advisor could help increase your returns and alleviate stress. In our press release, we make reference to non-GAAP financial measures including Modified EBITDA, Adjusted EBITDA and Adjusted EBITDA minus capex. The park will extend its weekday hours to close at 7 p.m. in mid June. The most recent figure published by an industry analyst group was from the 2021 AECOM Theme Index report, which estimated Six Flags Great America had 2,675,000 visitors in 2021 -- 19th place among North American theme parks. Based on data provided by the village of Gurnee, the 2021 and 2022 seasons were close to pre-pandemic levels. March 4 - Six Flags Over Georgia opens for the 2023 season. Fright Fest and Holiday in the Park are registered trademarks of . The $19.30 increase in guest spending per capita compared to first quarter 2021 was driven by a $10.33 increase in Admissions spending per capita and a $8.97 increase in In-park spending per capita. Six Flags to Bring Pirate Boat Ride to Texas in 2022 - Theme Park Insider This was a year of transition for Six Flags, as we made bold changes to our business model in order to elevate the guest experience and to position the company for sustainable, long-term earnings growth, said Selim Bassoul, President and CEO. For 61 years, Six Flags has entertained hundreds of millions of guests with world-class coasters, themed rides, thrilling waterparks and unique attractions. Rumors grew throughout the season that the ride would be delayed yet again. . The company operates 27 parks, twenty five in the United States, two in Mexico and one in Montreal, Canada. We prepare our financial statements in accordance with United States generally accepted accounting principles ("GAAP"). For 60 years, Six Flags has entertained hundreds of millions of guests with world-class coasters, themed rides, thrilling waterparks and unique attractions. The pop star confirmed Sunday (April 30) that the next featured track from his 2022 record Harry's House . We are cashless at the gate. Popular Theme Park Announces All-New Coaster Coming in 2023 On select days in June and July there will be an expanded food menu as part of an event called "Flavors of the World," and on select days in August the park will host Viva La Fiesta, which will include food and entertainment. During the second quarter 2021, the company received $11.3 million related to one of its terminated international development agreements in China. Wimbledon to house Ukrainian tennis players, donate to relief Weighted-average common shares outstanding: Net (loss) income per average common share outstanding: (Amounts in thousands, except share data), Prepaid expenses and other current assets, Intangible assets, net of accumulated amortization of $266, $261 and $244 as of April 3, 2022, January 2, 2022 and April 4, 2021, respectively, Accrued compensation, payroll taxes and benefits, Common stock, $0.025 par value, 280,000,000 shares authorized; 86,248,545, 86,162,879 and 85,369,434 shares issued and outstanding at April 3, 2022, January 2, 2022 and April 4, 2021, respectively, Accumulated other comprehensive loss, net of tax, Total liabilities and stockholders' deficit. The increase in attendance was driven by increased operating days the quarter compared to the prior year period, which was negatively impacted by pandemic-related closures and operating restrictions. Maxx Force debuted in July 2019 and remains the park's newest roller coaster. Manage all your favorite fandoms in one place! We have an exciting lineup of new rides and immersive festivals planned for 2023, and we are optimistic that our momentum will continue through the upcoming season and beyond., (Amounts in millions, except per share data), Net income attributable to Six Flags Entertainment.

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