Six Flags Reports 98.8% Revenue Growth to $202.1 Million in Q1 2025

Six Flags Entertainment Corporation reported significant financial results for the first quarter of 2025, reflecting the impact of its recent merger with Cedar Fair. The company generated net revenues of $202.1 million, a substantial increase of 98.8% compared to $101.6 million in the same period last year. This growth was primarily driven by the inclusion of Former Six Flags operations, which contributed $111 million to the revenue. However, the company also faced an operating loss of $321 million, widening from a loss of $126.3 million in the prior year, largely due to increased operating expenses and depreciation costs associated with the merger.

The merger, completed on July 1, 2024, has resulted in a notable increase in operational scale, with the number of operating days rising to 393 from 117 year-over-year. Attendance surged by 108.9%, reaching 2.8 million visits, while in-park per capita spending increased by 5.5% to $65.40. The company reported a significant rise in operating costs, which totaled $411.9 million, up 91.6% from the previous year, driven by higher expenses related to the integration of Former Six Flags operations and increased labor costs.

In terms of strategic developments, Six Flags has initiated "Project Accelerate," aimed at enhancing guest experiences and operational efficiencies. The company plans to invest approximately $1 billion in capital expenditures over the next two years, focusing on new attractions and improvements across its parks. Additionally, the company is evaluating the potential divestiture of non-core assets to optimize its portfolio.

As of March 30, 2025, Six Flags reported total assets of $9.2 billion, with cash and cash equivalents at $61.5 million. The company’s long-term debt stood at $5.0 billion, reflecting the financial obligations incurred during the merger. The company has indicated that it has sufficient liquidity to meet its obligations through at least the first quarter of 2026, with plans to prioritize debt reduction and reinvestment in the business.

Looking ahead, Six Flags anticipates continued growth driven by increased attendance and spending, although it acknowledges potential risks including economic conditions and competition. The company remains focused on executing its strategic initiatives to enhance shareholder value and improve operational performance in the coming quarters.