Six Flags Entertainment Corporation (FUN) Earnings
Six Flags Entertainment Corporation is expected to report next earnings on August 6, 2026 (in NaN days), with a consensus EPS estimate of $0.28. FUN has beaten EPS estimates in 7 of its last 12 reported quarters (average surprise -31.1% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| May 7, 2026 | $-2.71 | $-2.20 | +18.8% | $226M | +8.7% |
| Feb 19, 2026 | $-0.31 | $-0.91 | -193.5% | $650M | +209.6% |
| Nov 7, 2025 | $2.24 | $3.28 | +46.4% | $1.3B | +118.7% |
| May 8, 2025 | $-2.29 | $-2.20 | +3.9% | $202M | -80.7% |
| Feb 27, 2025 | $0.34 | $0.14 | -58.8% | $687M | +191.4% |
| Aug 8, 2024 | $1.12 | $1.20 | +7.1% | $572M | +8.2% |
| May 9, 2024 | $-2.40 | $-2.47 | -2.9% | $102M | +10.0% |
| Feb 15, 2024 | $0.24 | $0.16 | -33.3% | $371M | +1.1% |
| Nov 2, 2023 | $3.74 | $4.19 | +12.0% | $842M | +0.7% |
| Aug 3, 2023 | $1.02 | $1.04 | +2.0% | $501M | -0.9% |
| May 4, 2023 | $-1.83 | $-2.61 | -42.6% | $85M | -76.9% |
| Feb 17, 2023 | $-0.16 | $0.37 | +331.3% | $366M | +5.9% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · May 7, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
- Leadership changes: Targeted adjustments in senior leadership team, with Dave Hoffman stepping in temporarily for finance. - Quarter performance: Driven by higher attendance, increased guest spending, and disciplined cost management. Benefits from earlier Easter timing and normalized conditions in California. Progress in ticketing platforms, digital/commercial capabilities, and operational improvements. Allocation of resources to revenue management, introduction of regional pass with regional access benefits. Reintroduction of park presidents for localized decision-making. Disciplined capital allocation, sale of non-core assets and land, focus on parks with highest returns. - Future plans: Entering important operating season with encouraging momentum, new park offerings like Tormenta at Six Flags Over Texas, Montezuma at Knott's Berry Farm, Looney Tunes Land at Six Flags Magic Mountain, Phantom Theater at Kings Island, and expanded entertainment offerings at several parks. Focus on family market, broadening reach, reinforcing season pass/membership programs.
Guidance
- Not providing formal earnings guidance or long-term targets currently. - Focus on consistent execution across operating levers. - Expect greater visibility into full season trends as May and June, key selling periods for season pass and membership products, progress. - Plans to provide clear qualitative context around performance trends, key initiatives, and progress against strategic priorities as season unfolds.
Segment performance
Attendance increased 4%, per capita spending increased 6%, and net revenue increased 12% compared to the prior year. Through April, trends in attendance and revenue remain positive. First quarter operating costs down meaningfully year over year, driving a $48 million improvement in adjusted EBITDA. Pricing and product structure changes, improved marketing and messaging, and strong in-park operations contributed. The regional pass offering is gaining traction with improved pass sales trends, favorable product mix, and strong guest interest in cross-park visitation. In-park spending was strong due to events like Knott's Boysenberry Festival and improved offerings.
Analyst Q&A
Q: On operating days strategy, how to think about operating days for remainder of the year and cost control?
A: Approach market-by-market, agile going forward. Q1 had efficiency, expect to remove 16 days in Q2 and add 60 days in balance of year.
Q: On Easter timing impact on year-to-date attendance, is it a headwind?
A: No, April comparisons give comfort on navigating march plus april comps favorably.
Q: On cost structure and longer-term margin opportunity, how?
A: Cost work includes organizational changes, procurement initiatives, automation/efficiency ideas, park presidents to accelerate impact. Saw 27% EBITDA margin in 2025, aim to improve.
Q: On park portfolio, other opportunities to sell/shut down underperforming parks?
A: Executed sale of six smaller parks, expect to close Montreal in Q2, no other plans in 2026, focused on execution.
Q: On cash flow implications of slimmed-down portfolio?
A: Revenue and EBITDA impact quarter by quarter, more flexibility with CapEx toward higher return parks, cash interest expected 300 - 320 million, cash taxes around 25 - 30 million.
Q: On 2Q cost opportunity, marketing and maintenance?
A: Cost savings program underway, marketing spend in Q2 last year a factor, maintenance cost pressure in Q2. Encouraged by regional pass sales.
Q: On past sales comparability, apples to apples metric?
A: No prepared five-week view, but positive impact from membership and regional pass.
Q: On regional pass and potential for more specific passes?
A: Regional pass has opportunity to mine further, early stages, implications for catchment areas, media spend, pricing.
Q: On park presidents color?
A: All of the above, talented people with commitment, entrepreneurial spirit, some internal promotions.
Q: On past product pricing and mix?
A: Trade-up into gold, premium categories, monitoring and adjusting price/promotional strategy.
Q: On marketing, where are we this year?
A: Applied learnings from 2025, made changes in creative, early innings of evolving marketing program.
Q: On hotels, core longer term?
A: Like synergy of lodging business, research supports, model at Cedar Point and Knott's Berry Farm working, no reason to walk back.
Q: On pricing and staffing?
A: Growth from trade-up in pass tiers and membership, team staffing parks well, agile approach to adjustments.