Six Flags Announces Record First-Quarter Financial Performance
Six Flags will have plenty to celebrate heading into the busy summer season.
On Wednesday, the Texas-based entertainment corporation announced record first-quarter financial performance, revealing significant growth in a pair of key areas for the period ending March 31, 2015.
The world's leading amusement park operator posted 16 percent year-over-year growth in revenue, reporting $85 million for 2015's opening quarter, and a 13 percent rise in adjusted EBITDA (earnings before interest, taxes, depreciation and amortization), which corresponded to a $5 million improvement in that metric.
Driving Six Flags' first-quarter growth was a notable increase in attendance, with the corporation recording 13 percent year-over-year growth in that category resulting in 1.6 million first-quarter guests.
The company also experienced a three percent rise in admissions per capita spending ($25.84).
"Our 2015 season is off to an excellent start with record-high guest satisfaction scores, record-high profitability, and double-digit improvements in all key performance metrics, including a 53 percent growth in our Active Pass Base compared to the prior year period," said Six Flags chairman, president and CEO Jim Reid-Anderson in a statement.
"We remain intently focused on building shareholder value by delivering an unprecedented sixth year in a row of record financial performance in 2015, and working toward achieving our long-term financial target of $600 million of Modified EBITDA by 2017," he added.
Six Flags boasts more than a dozen properties across North America, most of which are likely to draw more visitors when warmer temperatures arrive this summer.
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