NYSE$FUN

Six Flags Entertainment Corp · Q3 2025 earnings

Q3 2025 earnings · · Before market open · Investor relations

Briefing

Six Flags Entertainment reported Q3 2025 net revenues of $1.32B with a net loss attributable to the company of $1.19B ($11.77 per share).

Net revenues were $1.32 billion; a $1.52 billion goodwill impairment drove a GAAP net loss of $1.19 billion, or $(11.77) per diluted share, following the Cedar Fair merger. Excluding impairment, park-level attendance and per-cap spending trends are the focus for FY26.

  • Q3 net revenues $1.32B.
  • $1.52B goodwill impairment on merger accounting.
  • Attendance and in-park spending remain key KPIs.
  • Leverage and synergy realization in focus.

Headline financials

Total Revenue

$1.32B

Previous: $1.35B-2.3%
EPS (adj)

-$11.77

Previous: $1.10-1170.0%
Attendance

21.1M

Previous: 21.0M+0.7%
Per Capita Spending

$59.08

Previous: $61.27-3.6%
Admissions Per Capita

$31.48

Previous: $34.16-7.8%
In-Park Product Per Capita

$27.60

Previous: $27.10+1.8%
Out-of-Park Revenues

$108M

Previous: $102M+5.7%
Operating Days

2.6K

Previous: 2.6K-0.5%
Adjusted EBITDA

$555M

Previous: $558M-0.6%
Net Income

-$1.19B

Previous: $111M-1170.0%
Operating Income

-$1.1B

Previous: $263M-520.4%

Revenue & EPS history

Cedar Fair · Revenue · Quarterly

$1.32B

Q3 2025-2.3%vs Q3 2024
Beat estimate in 9 of 15 quarters(60%)
ActualEstimate

Revenue by segment

Cedar Fair · $102M total across 3 segments · Q1 2024

  • Admissions
    $47.4M
  • Food, Merchandise & Games
    $38.9M
  • Accommodations & Other
    $15.4M

Forward guidance

Turnaround and integration stories focus on synergy, attendance, and path to profitability.

Tailwinds

  • Liquidity and asset base.
  • Operational initiatives.
  • Strategic transactions or portfolio actions.

Headwinds

  • GAAP volatility from impairments.
  • Leverage and execution risk.
  • Cyclical demand.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2025

Historical avgQ3 2025

+1.0%

Avg return

Earnings day

+0.8%

Avg return

5 days after

+0.9%

Avg return

30 days after

52%

33 / 64 earnings

Positive

+12.3%

Q1 2026

Best reaction

-10.3%

Q2 2018

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+12.3%-4.1%+5.2%
Q4 2025+9.0%+2.7%+0.2%
Q3 2025-1.0%-12.2%-15.0%
Q1 2025-0.1%+2.9%-7.9%
Q4 2024-5.7%-12.1%-23.0%
Q3 2024+7.1%+7.6%+11.1%
Q2 2024-0.2%-1.5%-3.7%
Q1 2024+9.2%+9.6%+7.1%
Q4 2023+2.8%-1.8%+4.0%
Q3 2023+2.0%+2.4%+4.6%
Q2 2023+11.6%+3.5%+8.3%
Q1 2023-0.2%+2.6%+10.3%
Q4 2022+4.0%+3.7%+1.3%
Q3 2022-3.4%-4.3%-1.8%
Q2 2022+1.4%+5.0%+2.8%
Q1 2022-2.4%-8.2%-11.2%
Q4 2021-7.2%-8.6%-9.3%
Q3 2021+0.9%+1.2%-2.1%
Q2 2021+6.3%+3.4%+5.4%
Q1 2021-2.4%-5.3%-7.4%
Q4 2020+4.8%+10.1%+12.9%
Q3 2020+4.6%+31.3%+41.7%
Q2 2020+2.1%+7.7%+15.4%
Q1 2020-6.4%+0.5%+37.8%
Q4 2019-1.1%-7.2%-66.2%
Q3 2019+0.1%+1.5%-3.5%
Q2 2019+4.5%+4.7%+15.3%
Q1 2019-0.5%-3.1%-10.1%
Q4 2018-2.1%-3.6%+4.0%
Q3 2018-0.1%+0.7%+5.7%
Q2 2018-10.3%-8.9%-7.0%
Q1 2018-0.3%-0.4%-1.3%
Q4 2017+2.8%+3.0%-0.1%
Q3 2017+5.0%+4.5%+5.5%
Q2 2017-5.5%-4.1%-3.3%
Q1 2017-3.3%-3.1%-1.6%
Q4 2016+4.1%+4.0%+6.5%
Q3 2016+4.1%+5.0%+6.0%
Q2 2016+3.0%+4.1%-0.5%
Q1 2016+2.0%
Q4 2015+7.0%
Q3 2015+3.6%
Q2 2015+5.7%
Q1 2015-2.7%
Q4 2014+1.5%
Q3 2014-0.3%
Q2 2014-0.2%
Q1 2014-1.2%
Q4 2013-1.1%
Q3 2013+3.3%
Q2 2013+2.0%
Q1 2013+0.8%
Q4 2012-1.7%
Q3 2012-1.3%
Q2 2012-0.4%
Q1 2012-5.8%
Q4 2011-0.5%
Q3 2011+2.4%
Q2 2011-1.0%
Q1 2011+5.6%
Q4 2010+0.7%
Q3 2010+3.4%
Q2 2010-1.3%
Q1 2010-3.9%

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