Six Flags Reports 62.8% Revenue Growth but $99.6 Million Net Loss in Q2 2025

Six Flags Entertainment Corporation reported significant financial results for the second quarter of 2025, following its merger with Cedar Fair, L.P. on July 1, 2024. The company generated net revenues of $930.4 million for the three months ended June 29, 2025, a 62.8% increase from $571.6 million in the same period last year. For the six months ended June 29, 2025, revenues reached $1.13 billion, up 68.2% from $673.2 million in the prior year. The increase in revenue was primarily driven by the inclusion of Former Six Flags operations, which contributed $388.7 million in the second quarter and $499.7 million in the first half of 2025.

Despite the revenue growth, Six Flags reported a net loss of $99.6 million, or $0.99 per diluted share, for the second quarter, compared to a net income of $55.6 million in the same quarter of 2024. The loss for the first half of 2025 totaled $319.4 million, significantly higher than the $77.9 million loss reported in the first half of 2024. The increase in losses was attributed to higher operating costs, which rose 83.5% to $710.8 million in the second quarter, driven by increased expenses related to the Former Six Flags operations, including labor and general administrative costs.

Operationally, the company reported attendance of 14.2 million guests in the second quarter, a 64.3% increase from 8.6 million in the same period last year. The increase in attendance was largely due to the addition of Former Six Flags parks, which saw a significant uptick in visitor numbers. In-park per capita spending also rose to $62.46, reflecting a 2.5% increase from the previous year, while out-of-park revenues increased by 17.8% to $71.9 million.

Looking ahead, Six Flags plans to focus on enhancing guest experiences and operational efficiencies to drive attendance and revenue growth. The company is investing between $475 million and $500 million in capital expenditures for 2025, which includes new attractions and upgrades across its parks. However, the company also faces challenges, including increased wage rates and inflationary pressures on costs. Management remains cautious about the impact of weather and economic conditions on future performance, particularly during peak operating seasons.