During the unprecedented last four months, at a time when uncertainty and . Adjusted EBITDA was a loss of $16 million, an improvement of $30 million compared to first quarter 2021, reflecting higher revenue and improved margins. The reduction in operating costs was driven by full-time headcount reductions, fewer total employee hours worked, and lower advertising costs. These non-GAAP financial measures are presented as supplemental information and not as alternatives to any GAAP financial measures. This widely-known consensus outlook is important in assessing the company's earnings picture, but a powerful factor that might . Do you know what to do if you come across one? Kid Flash: Cosmic Coaster (Six Flags Fiesta Texas), Batman: The Ride (Six Flags Fiesta Texas), Superman: Tower of Power (Six Flags St. Louis), Six Flags Great America Entertainment Village, Screampunk District (Six Flags Magic Mountain), SFGAMWorld on Twitter: "BREAKING NEWS: No System-Wide new for 22' Announcements for SF this year", https://www.sixflags.com/fiestatexas/attractions/dr-diabolicals-cliffhanger, Six Flags Over Texas Announces 'Pirates of Speelunker Cave' Ride, https://www.narcity.com/fr/montreal/la-ronde-donne-des-nouvelles-de-la-montagne-russe-vipere-qui-devait-ouvrir-en-2020, https://guidetosfot.com/2022/07/aquaman-power-wave-opening-delayed-until-2023/, Do Not Sell or Share My Personal Information. Six Flags is committed to creating an inclusive environment that fully embraces the diversity of our team members and guests. Capital expenditures, net of property insurance recovery (capex) represents cash spent on property, plant and equipment, net of property insurance recoveries. After weeks of in-depth teasing, Six Flags Fiesta Texas has finally unveiled their 2022 addition: Dr. Diabolical's Cliffhanger, the world's steepest dive coaster. In first quarter 2022, the company invested $29 million in new capital, net of insurance recoveries. In our press release, we make reference to non-GAAP financial measures including Modified EBITDA, Adjusted EBITDA and Adjusted EBITDA minus capex. Announcement [] In 2022, Six Flags Great Adventure, Six Flags Over Georgia and Six Flags New England announced the addition of a new roller coaster for the 2023 seasons. Six Flags America opens for the 2023 season. The following tables set forth a reconciliation of net income to Adjusted EBITDA for the three month and nine month periods ended October 3, 2022, and October 2, 2021: Third party interest in EBITDA of certain operations (4), Capital expenditures, net of property insurance recovery (5). See copyright and trademarks. These risks and uncertainties include, among others, factors impacting attendance, such as local conditions, natural disasters, contagious diseases, including COVID-19, or the perceived threat of contagious diseases, events, disturbances and terrorist activities; regulations and guidance of federal, state and local governments and health officials regarding the response to COVID-19, including with respect to business operations, safety protocols and public gatherings; political or military events; recall of food, toys and other retail products sold at our parks; accidents or incidents involving the safety of guests and employees, or contagious disease outbreaks occurring at our parks or other parks in the industry and adverse publicity concerning our parks or other parks in the industry; availability of commercially reasonable insurance policies at reasonable rates; inability to achieve desired improvements and our financial performance targets; adverse weather conditions such as excess heat or cold, rain and storms; general financial and credit market conditions, including our ability to access credit or raise capital; economic conditions (including customer spending patterns); changes in public and consumer tastes; construction delays in capital improvements or ride downtime; competition with other theme parks, waterparks and entertainment alternatives; dependence on a seasonal workforce; unionization activities and labor disputes; laws and regulations affecting labor and employee benefit costs, including increases in state and federally mandated minimum wages, and healthcare reform; environmental laws and regulations; laws and regulations affecting corporate taxation; pending, threatened or future legal proceedings and the significant expenses associated with litigation; cybersecurity risks; and other factors could cause actual results to differ materially from the companys expectations, including the risk factors or uncertainties listed from time to time in the companys filings with the Securities and Exchange Commission (the SEC). When reviewing a non-GAAP financial measure, we encourage our investors to fully review and consider the related reconciliation as detailed below. Six Flags' NEW For 2023 Coasters MIND BLOWING - YouTube Based on our current federal net operating loss carryforwards, we anticipate paying minimal federal income taxes in 2022 and do not anticipate becoming a full cash taxpayer until at least 2024. March 11 - Aquaman: Power Wave opens at Six Flags Over Texas. Privacy Policy. 01/31/2023. and our Maxx Force debuted in July 2019 and remains the park's newest roller coaster. 2022 announcements : sixflags 6 Posted by u/sam_00F 9 months ago 2022 announcements QUESTION Will six flags release one of those "whats new to six flags 2022" official announcement videos this august like they do every year (even tho they didn't do one last year)? Paul Valade | Staff Photographer, 2022. The $19.30 increase in guest spending per capita compared to first quarter 2021 was driven by a $10.33 increase in Admissions spending per capita and a $8.97 increase in In-park spending per capita. Prices, operating schedule and park policies are subject to change without notice. . We believe that Adjusted EBITDA is frequently used by all our sell-side analysts and most investors as their primary measure of our performance in the evaluation of companies in our industry. Six Flags Great America in Gurnee will open on weekends and select weekdays starting Saturday through May 23 when daily admission begins. Adjusted EBITDA minus capex as defined herein may differ from similarly titled measures presented by other companies. For more information, please see our Adjustments to reconcile net loss to net cash used in operating activities: Other, including loss (gain) on disposal of assets, Change in inventories, prepaid expenses and other current assets, Change in accounts payable, deferred revenue, accrued liabilities and other long-term liabilities, Net cash provided by financing activities, Cash and cash equivalents at beginning of period, Cash and cash equivalents at end of period, Definition and Reconciliation of Non-GAAP Financial Measures. Adjusted EBITDA minus capex, a non-GAAP measure, is defined as Adjusted EBITDA minus capital expenditures, net of property insurance recoveries. See the following financial statements and Note 4 to those financial statements for a discussion of Adjusted EBITDA (a non-GAAP financial measure) and its reconciliation to net income (loss). Six Flags Appoints Edithann Velez Ramey as Chief Marketing Officer. Maxx Force debuted in July 2019 and remains the park's newest roller coaster. At esix Gaming, we cater to all types of gamers. The increase in attendance was driven by increased operating days the quarter compared to the prior year period, which was negatively impacted by pandemic-related closures and operating restrictions. Flags and signs of support for those countries are banned from tournament grounds. SAN ANTONIO-- ( BUSINESS WIRE )-- Six Flags Fiesta Texas ,The Thrill Capital of South Texas, today announced details on the new ESIX Gaming powered by Coca-Cola. . For 61 years, Six Flags has entertained hundreds of millions of guests with world-class coasters, themed rides, thrilling waterparks and unique attractions. Adjusted EBITDA minus capex, a non-GAAP measure, is defined as Adjusted EBITDA minus capital expenditures, net of property insurance recoveries. This release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements regarding (i) the effect, impact, potential duration or other implications of the COVID-19 pandemic or virus variants, and any expectations we may have with respect thereto including the continuing efficacy of the COVID-19 vaccines, (ii) the adequacy of our cash flows from operations, available cash and available amounts under our credit facilities to meet our liquidity needs, including in the event of a prolonged closure of one or more of our parks, (iii) our ability to significantly improve our financial performance and the guest experience, (iv) expectations regarding consumer demand for regional, outdoor, out-of-home entertainment, including for our parks, and (v) expectations regarding our annual income tax liability and the availability and effect of net operating loss carryforwards and other tax benefits. The lower attendance was driven by an increase in ticket prices and elimination of free tickets and heavily-discounted product offerings. The increase in Admissions spending per capita was primarily driven by higher realized ticket pricing and a higher mix of single day tickets. The village has given the park around $387,000 total in 2018, 2019 and 2021. (3). Six Flags 2022 Announcement Video (Unofficial) 1,089 views Jan 9, 2022 10 Dislike Share Coaster Delta 6 subscribers Six Flags' 2022 Announcement Video! Park officials also announced new special events and festivals. Adjustments to reconcile net income to net cash used in operating activities: Other, including loss (gain) on disposal of assets, Change in inventories, prepaid expenses and other current assets, Change in accounts payable, deferred revenue, accrued liabilities and other long-term liabilities, Net cash provided by operating activities, Purchase of identifiable intangible assets, Redemption premium payments on debt extinguishment, Payment of tax withholdings on equity-based compensation through shares withheld, Purchase of redeemable noncontrolling interest, Distributions to noncontrolling interests, Cash and cash equivalents at beginning of period, Cash and cash equivalents at end of period, Definition and Reconciliation of Non-GAAP Financial Measures. Were thinking there may be another PowerSplash in the future. Modified EBITDA, as defined herein, may differ from similarly titled measures presented by other companies. Six Flags has 27 parks across the United States, Mexico and Canada with world-class coasters, family rides for all ages, up-close animal encounters and thrilling water parks. In a surprise December announcement, Six Flag Fiesta Texas revealed it would open the first "P'Sghetti Bowl" coaster model from Skyline Attractions. April 9 Six Flags New England re-opens for the 2022 season. Search for self managed wealth investment accounts, https://www.businesswire.com/news/home/20221017005760/en/. The higher In-park spending reflects the companys in-park pricing initiatives. View source version on businesswire.com: https://www.businesswire.com/news/home/20221017005760/en/, Stephen R. PurtellSenior Vice PresidentCorporate Communications, Investor Relations and Treasurer+1-972-595-5180investors@sftp.com. Built by Bolliger and Mabillard (B&M), this floorless dive coaster will be 150ft tall and feature the record breaking 95 degree, beyond vertical drop. Wimbledon to house Ukrainian tennis players, donate to relief Let us know in the comments section below! We believe that Adjusted EBITDA minus capex is frequently used by all our sell-side analysts and most investors as their primary measure of our performance in the evaluation of companies in our industry. In addition, due to the adoption of a fiscal reporting calendar commencing January 1, 2021, there were three fewer days in the first nine months 2022 compared to the first nine months 2021, which accounted for 89 thousand additional guests in the first nine months 2021.
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