Six Flags Loss Narrower Than Estimates, Revenue Beats

(RTTNews) - Theme park operator Six Flags Entertainment Corp (SIX) on Wednesday reported fourth-quarter net loss of $34.1 million or $0.37 per share compared with a profit of $13.3 million or $0.13 per share last year.

Excluding stock-based compensation expense and other items, adjusted loss for the quarter was $0.07 per share.

Revenues for the quarter were $183.7 million compared with $154.2 million in the prior year.

Analysts polled by Thomson Reuters estimated a loss of $0.13 per share on revenues of $164.6 million for the quarter. Analysts' estimates typically exclude special items.

Revenue growth was primarily driven by a 3 percent increase in guest spending and a 15 percent increase in attendance.

Despite a higher mix of season pass visitation during the quarter, total guest spending per capita increased $0.96 or 3 percent to $38.95, the company said.

"We are extremely well-positioned as we enter the 2015 season with a 25 percent gain in our Active Pass Base, and we remain laser-focused on delivering our next long-term financial target of $600 million of Modified EBITDA by 2017," said CEO Jim Reid-Anderson.