Six Flags Entertainment Up 4% As Q4 Results Top Estimates

(RTTNews) - Shares of Six Flags Entertainment Corp. (SIX) gained more than four percent in extended trading on Wednesday after the theme park company reported results for the fourth quarter that came in above analysts' expectations.

Meanwhile, the company reported a loss for the fourth quarter compared to a profit last year, reflecting double-digit revenue grown amid improved guest spending.

The Grand Prairie, Texas-based world's largest regional theme park company reported a net loss attributable to the company of $34.12 million or $0.37 per share for the fourth quarter, compared to net income of $13.32 million or $0.13 per share in the prior-year quarter.

Loss from continuing operations for the quarter was $0.38 per share, compared to $0.12 per share last year.

Excluding stock-based compensation charge, adjusted loss for the latest quarter was $0.07 per share.

On average, eight analysts polled by Thomson Reuters expected the company to report a loss of $0.13 per share for the quarter. Analysts' estimates typically exclude special items.

Cash earnings for the quarter grew to $0.25 per share from last year's $0.15 per share.

Total revenues for the quarter grew 19 percent to $183.68 million from $154.19 million in the same quarter last year, and topped eight Wall Street analysts' consensus estimate of $164.57 million.

The company noted that strong revenue growth was primarily driven by a 3 percent increase in guest spending and a 15 percent increase in attendance.

Total guest spending per capita grew 3 percent to $38.95, with admissions revenue per capita increasing 6 percent, while in-park revenue per capita dipped 1 percent.

Theme park admissions revenues improved to $96 million from $79 million, and theme park food, merchandise and other revenues increased to $71 million from $62 last year.

Sponsorship, licensing and other fees were $15 million, up from $10 million, and accommodations revenue edged down to $2.77 million from $2.96 million a year ago.

"We are extremely well-positioned as we enter the 2015 season with a 25 percent gain in our Active Pass Base, and we remain laser-focused on delivering our next long-term financial target of $600 million of Modified EBITDA by 2017," Chairman, President and CEO Jim Reid-Anderson said in a statement.

SIX closed Wednesday's regular trading session at $46.31, up $0.92 or 2.03% on a volume of 0.92 million shares. The stock gained a further $2.08 or 4.49% in after-hours trading.