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Six Flags Entertainment (FUN) investor relations material
Six Flags Entertainment Q2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2025 earnings summary6 Aug, 2025
Executive summary
CEO announced plans to step down, with a smooth succession process underway and continued board involvement.
Integration of Cedar Fair and Six Flags completed, with significant progress on synergy realization and cost savings.
Net revenues for Q2 2025 reached $930 million, with $389 million from legacy Six Flags operations added via merger.
Early season performance was impacted by extreme weather and macroeconomic uncertainty, leading to lower attendance and revenue.
July marked a turning point with normalized weather, increased demand, and strong season pass sales.
Financial highlights
Adjusted EBITDA guidance for 2025 revised down to $860M–$910M from $1.08B–$1.12B due to weather disruptions and a smaller active pass base.
Q2 2025 revenue was $930M, with a net loss of $100M and adjusted EBITDA of $243M.
Q2 attendance totaled 14.2M, down 9% year-over-year, with 49 park closure days due to weather.
In-park per capita spending for Q2 was $62.46, up from $60.95 in Q2 2024.
Q2 capital expenditures totaled $168M; full-year 2025 CapEx expected at $475M–$500M, with 2026 projected at $400M.
Outlook and guidance
Second half 2025 attendance expected to be flat year-over-year after adjusting for discontinued winter events.
In-park per capita spending projected to decline 3% for 2025, reflecting promotional offers and attendance mix.
Full-year operating costs and expenses (excluding adjusted EBITDA add backs) targeted to decrease by 3% versus last year.
Permanent merger-related cost synergies expected to reach $120M annualized run rate in 2025.
Long-term guidance to be reassessed after 2025 season; management remains confident in long-term growth potential.
Why did Cedar Fair's revenue decrease?
Explore divestiture of non-core assets.
Detail 2025's second-half cost reduction.
How will leadership change impact strategy?
What's driving the projected in-park spend decline?
What's the plan to address 2027 debt maturities?
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Next Six Flags Entertainment earnings date
Q3 20255 Nov, 2025
Next Six Flags Entertainment earnings date
Q3 20255 Nov, 2025
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Frequently asked questions
Six Flags Entertainment Corporation owns and operates regional theme and waterparks under the Six Flags name. The Company's business is organized into two segments: Marine Parks and Theme Parks. As of December 31, 2016, the Company owned and operated 12 amusement parks in North America (the United States (U.S.), Canada, Mexico and New Zealand). As of December 31, 2016, the Marine Park operations consisted of 6 parks located in Texas, South Carolina and Alabama; 33 waterpark locations in 8 states; operated an additional 12 central distribution centers used to lease space to third parties that operate separate waterpark facilities; sponsored 3 conservation/education centers located at 5 of its park locations in California, Texas and Oklahoma. Six Flags Entertainment Corporation is headquartered in Arlington, Texas.
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