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Six Flags Corporate Discussion Thread


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http://www.marketwatch.com/story/adjusted-ebitda-climbs-24-percent-and-cash-eps-grows-60-percent-on-11-percent-revenue-growth-in-the-second-quarter-at-six-flags-2012-07-24

 

Six Flags Entertainment Corporation SIX +7.19% , the world's largest regional theme park company, today announced that second quarter 2012 revenue grew 11 percent or $36 million over prior year to a record $375 million. The strong performance was driven by an 11 percent or $20 million increase in ticket revenue and a 12 percent or $17 million increase in in-park sales. Attendance increased by one million guests or 12 percent over prior year. Adjusted EBITDA1 for the same period grew 24 percent or $27 million to a record $141 million while cash earnings per share2 of $1.78 grew 60 percent compared to the second quarter of 2011.

 

"Our focused strategy is clearly working. We are delighting our guests with innovative new attractions and great service at an exceptional value," said Jim Reid-Anderson, Chairman, President and CEO. "I am confident our consistent execution will continue to drive growth in cash flow, enable high returns for our shareholders, and further strengthen our financial position."

 

Guest spending per capita for the quarter of $39.06 declined one percent or $0.30 due to a reduction in admissions revenue per capita. Admissions revenue per capita declined one percent or $0.31 to $21.97 as individual ticket pricing gains were offset by the company's success in growing season pass attendance. In-park revenue per capita for the quarter was $17.08--up slightly over prior year.

 

For the first six months of the year, revenue increased 10 percent or $41 million over the same period in 2011 while Adjusted EBITDA grew 47 percent or $30 million. The company's Adjusted EBITDA for the last twelve months grew to $381 million and Modified EBITDA3 for the same period grew to $408 million. Modified EBITDA margin for the last twelve months improved by 320 basis points to 38.7 percent, a new record high for the company and the industry.

 

Due primarily to strong season pass sales, deferred revenue as of June 30, 2012 grew to $106 million, an increase of $19 million or 22 percent versus June 2011.

 

Diluted earnings per share was $1.27 in the second quarter and a loss of $0.79 for the first six months of 2012, an improvement of $0.65 or 105 percent and $1.26, respectively.

 

Cash earnings per share for the last twelve months grew to $4.00, an increase of $0.89 as compared to the prior twelve-month time period. The company believes cash earnings per share is a meaningful metric given the current $1.1 billion accumulated tax loss carryforward and the net depreciation and amortization impacts relating to fresh-start accounting.

 

Net Debt4 as of June 30, 2012 was $828 million compared to $829 million as of June 30, 2011. The company's net leverage ratio declined to an industry low of 2.2 times as of June 30, 2012 from 2.6 times as of June 30, 2011. In the first six months of 2012 the company invested $64 million in new capital, net of property insurance recoveries, paid $64 million in dividends, or $1.20 per share of common stock, and repurchased $98 million or 2.1 million shares of its common stock at an average price of approximately $47 per share.

 

Conference Call At 8:00 a.m. Central Time today, the company will host a conference call to discuss its second quarter and first six months 2012 financial results. The call is accessible either through the Six Flags Investor Relations website at www.sixflags.com/investors or by dialing 1-888-282-0415 in the United States or +1-415-228-4945 outside the United States and requesting the Six Flags earnings call. A replay of the call will be available by dialing 1-800-925-0943 or +1-203-369-3380 through July 31, 2012.

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  • 1 month later...

New chain wide gold season pass for 2013. Note, the prices in this are for the Great America pass and are different at different parks.

 

 

Take advantage of the best value we’ve ever offered

 

Today we launched our Six Flags 2013 Season Pass program, which includes a variety of new features, like a new Gold Pass, free parking, discounts for current Pass Holders, and a $5.79 a month payment plan—all of which make owning a Six Flags Season Pass the best value we’ve ever offered.

 

When you buy four or more 2013 Season Passes now, you will not only receive free admission to the park for the remainder of the 2012 season, and free admission to Fright Fest both this year and next year, but you’ll also receive a free upgrade to the new Gold Pass, free parking, and additional features only available to guests who buy their Season Passes in the fall. And with our new monthly payment plan, Season Passes are more affordable than ever before.

 

New Gold Pass – Includes Free Parking & More

To help you achieve the very best park experience, we’ve just launched the new Gold Pass so you can enjoy Six Flags even more. The Gold Pass comes with special benefits, including unlimited admission and free parking at every Six Flags theme park, an additional bring-a-friend-free ticket, and the chance to enter Six Flags Great America and Hurricane Harbor early – before all of the other guests – every time you visit in 2013. To celebrate the launch of the new pass, we are offering a free upgrade to Gold (which includes free parking!) for everyone who buys four or more regular Season Passes and processes their IDs at the park by October 28, 2012.

 

2013 Season Passes Available for as Little as $5.79 a Month

For a very limited time only, we are offering a new monthly payment program that allows guests to own a Gold Pass for as little as $5.79 a month. There are no credit checks, and all that is required is a valid credit card or debit card. Paying for your monthly pass is easy: once you provide your credit card information, we’ll charge you for your first payment (and any taxes that are due) and make a similar charge to your card each month thereafter. The monthly pass includes all of the benefits and features of Season Passes that are paid up-front, and can be cancelled at any time after the first 12 months. Please note that the monthly payment plan is only available online and cannot be purchased at the park.

 

Discount for 2012 Pass Holders on 2013 Season Passes

Over the course of the summer we’ve rewarded our 2012 Season Pass Holders with exclusive ride times, early admission, extra bring a friend free days, and more. To further show our appreciation, for the first time ever, we would like to offer each and every current Pass Holder the opportunity to buy a 2013 Season Pass at a discount. For a family of four, this represents an additional $20 total off the already discounted 4 Pack price. When you buy your 2013 Season Passes online, you’ll be able to enter your 2012 ID number to receive the discount.

 

2013 Season Pass Benefits Better Than Ever

In addition to the new features described above, 2013 Season Pass Holders of all types will receive unlimited visits to the park starting the moment they buy their pass. This includes free admission to Six Flags’ premier Halloween event, Fright Fest, as well as several opportunities throughout the season to bring your friends for free. Pass Holders also receive exclusive ride times, invitations to special park events, and coupons with over $300 worth of admission discounts and in-park savings on food and merchandise.

 

Order Now for the Best Price, Best Value on 2013 Season Passes

Free upgrade to Gold, free parking, and even our $5.79 payment program is only available for a limited time. Season Pass prices will never be lower, and you’ll never get as much value.

 

http://content.sixflags.com/news/greatamerica/2013-season-pass-on-sale

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All I have to say is that I'm glad they included free parking to all of the parks on the gold pass, you don't know how annoying it is when you live in a area with 3 Six Flags parks near you (Great Escape, SFNE, SFGADV) and only being able to get free parking at one of them and having to pay $20 for parking when we visit the other two multiple days.

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  • 4 weeks later...

Trouble In Theme Park Paradise?

 

Screamscape.com

(9/21/12) Interesting news for Six Flags came out today, as the SEC filed official paperwork announcing that Al Weber (Six Flags COO) will be retiring from the company effective September 30th, 2012. No word on the wire yet about who may be tapped as his replacement, but whoever it is, I’m sure we’ll see some changes made as they shape the future of the company to their own vision. More as we find out.

 

 

If I were to guess, they would get Jack Falfas of Knott's Fame.

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  • 3 weeks later...
Oh, wow, I hadn't noticed the news about Al Weber stepping down...or being asked to leave? Seriously, how many changes of senior management can one company have in the past decade???

 

WOW he is never noticed. Don't forget they are still getting rid of the premier era management

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  • 2 weeks later...

http://www.star-telegram.com/2012/10/24/4359812/higher-attendance-and-prices-boost.html

 

Thanks to improved attendance and higher prices at its theme parks, third-quarter profits for Grand Prairie-based Six Flags Entertainment Corp. went up 31 percent, the company reported today.

 

Six Flags, the owner of Six Flags Over Texas and Hurricane Harbor in Arlington, reported net income of $253 million for the quarter ending Sept. 30, or $4.33 a share, compared to $192.8 million, or $3.43 a share in the year-ago quarter.

 

Revenue for the quarter was $485 million, up $10 million, or 2 percent, driven by an increase in admissions revenue, the company said.

 

"Cash flow is growing nicely," said Six Flags CEO Jim Reid-Anderson in a conference call with Wall Street analysts. "Six Flags has shown this business can generate high recurring revenue. We feel fantastic about where we are."

 

Despite the positive report, shares of Six Flags (ticker: SIX) were down $6.58, or 10.5 percent, at $55.76 in morning trading.

 

Admissions revenue per capita increased slightly to $23.51, the result of higher prices offset by a higher mix of season pass attendance, the company said. Attendance at the company's 19 parks increased 3 percent in the quarter to 11.5 million guests, Six Flags said.

 

Reid-Anderson said attendance for the year so far has grown 8 percent, to 25.6 million, and is "headed north." Four parks will host Holiday in the Park events later this year.

 

The company has focused on selling season passes as a way to increase revenue, Reid-Anderson said, even though season pass guests tend to spend less per visit. Over the course of the year, however, season pass holders spend more than single-day guests, he said.

 

Sales of season passes for 2013 are already showing a double-digit increase compared to sales last year of 2012 passes, he said.

 

"We are seeing no let up in the purchase of season passes," Reid-Anderson said.

 

On Sept. 28, the company said it sold its minority interest in Dick Clark Productions for $70 million. The money was used to buy back 1.1 million share of stock, the company said.

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From Screamscape:

 

Six Flags - (10/29/12) An interesting rumor from the Six Flags campground make it to my ears this weekend. Sounds like there may be some kind of contract dispute between Six Flags and SmarteCart, the 3rd party vendor who supplied Six Flags with all those walls of extra lockers at the major attractions several years ago. I believe the basis for the first deal was some kind of profit revenue sharing plan between the two if SmarteCart would install the lockers into the park on their own dime. Rumor has it SmarteCart wants more money and Six Flags is telling them to go pound sand.

The management at Six Flags now is entirely different from the the group who negotiated the original deal, and could be that they are ready to part ways with SmarteCart, which could mean that the mandatory locker system could be on the way out before the parks reopen in 2013. Stay tuned!

 

I like the sound of that!

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I like the sound of that!

 

No way. SmarteCart might jump ship, but Six Flags will just install a different locker system. They'll never go back to the station bins or switch to free lockers.

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No way. SmarteCart might jump ship, but Six Flags will just install a different fluffy, fluffy bunny filled with medicine and goo system. They'll never go back to the station bins or switch to free fluffy, fluffy bunnies filled with medicine and goo.

 

Great America has station bins and cup holders on every ride and coaster, yet when I went to St. Louis they were still making people use lockers.

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  • 5 weeks later...

http://www.nasdaq.com/article/discover-six-flags-extend-corporate-sponsorship-20121128-00378#.ULfRO6WXKfG

 

Discover Financial Services (DFS) Wednesday announced a new, multi-year extension of its corporate sponsorship with Six Flags Entertainment Corp. (SIX). The extension, which follows a successful three-year run, offers Discover cardmembers in-park discounts, special ticket packages and exclusive experiences.

 

As the official credit card of all domestic Six Flags parks, Discover will continue to reward its cardmembers in 11 U. S. markets in a variety of ways, including among others, a dedicated Discover gate during the first two hours of each park opening.

 

Six Flags will continue to feature Discover signage and branding throughout their parks via the Six Flags Media Networks, including Six Flags TV, digital billboards, scrolling signs and banners.

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