Six Flags Shares Rise 5.3% Despite Q3 Loss as Company Updates Fourth-Quarter Outlook

Six Flags Entertainment Corporation (NYSE:FUN) reported a third-quarter net loss of $3.59 per diluted share, compared with analysts’ expectations for earnings of $1.98 per share, while revenue declined 11.0% year over year to $1.17 billion, matching market forecasts.

The theme park operator’s shares rose 5.3% in premarket trading following Thursday’s announcement.

The results included $687.7 million in non-cash impairment charges. Excluding eight parks no longer operated by the company, same-park revenue increased 1.4% from the prior-year quarter.

Same-Park Revenue and Adjusted EBITDA Increase

Six Flags reported third-quarter adjusted EBITDA of $493.2 million, representing a 1.1% increase on a same-park basis.

Same-park attendance declined 0.2% to 18.2 million visitors, while average spending per guest increased 1.3% to $60.51.

The company’s active pass base grew 7.1% on a same-park basis to 7.1 million members.

Net cash generated from operating activities during the first nine months of 2026 increased 36.5% to $498.5 million.

“Our third quarter results reflect the progress we are making against our strategic priorities and the underlying strength of our portfolio,” said President and CEO John Reilly.

“Through the first nine months of the year, we delivered double-digit growth in adjusted EBITDA on a same-park basis, reflecting the cumulative impact of our efforts to improve execution, strengthen operations and manage costs effectively.”

Fourth-Quarter EBITDA Forecast Below Prior-Year Level

Six Flags expects fourth-quarter same-park adjusted EBITDA between $140 million and $150 million, compared with $167 million in the corresponding period last year.

The midpoint of the forecast is $145 million.

The company attributed softer October trading to unfavourable weather conditions and the impact of an incident at Six Flags Over Georgia.

Capital Expenditure Guidance Reduced

Six Flags lowered its full-year 2026 capital expenditure forecast to $350 million–$375 million, compared with its previous guidance of $400 million–$425 million.

The revision reflects changes in the timing of major ride development projects.

The company’s third-quarter results showed higher same-park revenue and adjusted EBITDA despite lower attendance, while its fourth-quarter forecast indicates reduced adjusted EBITDA compared with the previous year.

Six Flags stock price