Monday, November 10, 2008

Six Flags 3rd Quarter Results

Six Flags Theme Parks has announced their results for the 3rd quarter, and for the first nine months of the year.

Some highlights:

· Full 2008 sponsorship revenues are now expected at $59 million.
· They expect to announce another Middle Eastern park partnership soon.
· Net revenues for the first 9 months of the year are up 5%.
· Costs for the first 9 months are down 7%.
· The Company slashed free ticket programs and considering that change attendance is up 800,000 visits for the year so far.
· 2009 capital expenditures will come in on the lower side of the average $90-$110 million total.

You can read the transcript of the call at this link. It's pretty positive news not only for Six Flags (who does need it, badly) but also for the industry in general, I think at least.


Unknown said...

It's just too bad the market relies so heavily on what Wall Street thinks. Despite the great news, they fell short of Wall Street expectations by 0.2%, causing their stock to drop 36% to $0.28 per share at market close.

NewsPlusNotes said...

A major flaw of the big markets indeed. Too many investors and their 'advisors' depend too heavily on raw numbers, up or down, black and white. There's usually more to a picture that is not regarded correctly.