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April 30, 2020, 6:23 a.m. EDT

Six Flags' stock set to rally after loss widens, revenue falls less than expected

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By Tomi Kilgore

Shares of Six Flags Entertainment Corp. /zigman2/quotes/208050417/composite SIX -3.09% were indicated up more than 3% in premarket trading Thursday, after the theme park operator reported a narrower-than-expected first-quarter loss as revenue fell less than forecast. Park attendance dropped 27% due to the coronavirus pandemic-related suspension of park operations, while total guest spending per capita increased 17% to $56.60. The net loss widened to $84.5 million, or $1.00 a share, from $69.1 million, or 82 cents a share, in the year-ago period. The FactSet consensus was for a loss of $1.04 a sahre. Revenue fell to $102.5 million from $128.2 million, but was above the FactSet consensus of $93.1 million. The Active Pass Base fell 10% as of March 31, as the pandemic led to fewer season pass and membership sales. The stock has tumbled 44.2% over the past three months through Wednesday, while the S&P 500 /zigman2/quotes/210599714/realtime SPX -1.12% has declined 10.5%.

/zigman2/quotes/208050417/composite
US : U.S.: NYSE
$ 23.84
-0.76 -3.09%
Volume: 3.70M
Sept. 18, 2020 4:00p
P/E Ratio
N/A
Dividend Yield
0.00%
Market Cap
$2.02 billion
Rev. per Employee
$609,878
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/zigman2/quotes/210599714/realtime
US : S&P US
3,319.47
-37.54 -1.12%
Volume: 4.09B
Sept. 18, 2020 5:15p
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