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Six Flags rides its way to record revenues in 2016

Wednesday, February 22, 2017 7:27
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(Before It's News)

A strong fourth quarter helped Six Flags Entertainment Corp (NYSE:SIX) to post record revenues and attendance in 2016.

The attraction parks company saw attendance surge by almost 22% in the final three months of the year, driven by the growing popularity of its Halloween and holiday-themed events.

The rise in visitor numbers helped Six Flags to post quarterly revenues of US$239mln, ahead of the Wall Street consensus of US$229.5mln.

The solid finish to the year meant the Texas-based company generated record annual revenues of US$1.3bn, while annual attendance figures also climbed to their highest ever levels, with more than 30mln customers visiting Six Flag parks in 2016.

“Our strategy is working as we introduce innovative attractions in every park, increase season pass and membership sales, implement strategic pricing gains and in-park revenue initiatives, and grow our international licensing business,” said chief executive John Duffey.

Six Flags came out of bankruptcy in 2010 and, by and large, results have generally improved in the following years as the American economy recovers and more people have more money to spend on things like entertainment.

Shares were up slightly to US$61.36 in pre-market trading on Wednesday.

Story by ProactiveInvestors



Source: http://www.proactiveinvestors.com/companies/news/173546/six-flags-rides-its-way-to-record-revenues-in-2016-173546.html

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