The following is a summary of the Six Flags Entertainment Corporation (SIX) Q4 2023 Earnings Call Transcript:

Financial Performance:

• Six Flags reported total Q4 revenue of $293 million, up 5% primarily due to increased attendance, offset by decreased guest spending per capita.

• Total full-year revenue for 2023 increased by $68 million or 5% mainly due to higher attendance and sponsorship revenue.

• The company recorded an EBITDA of $462 million for full year 2023, remaining constant compared to 2022.

• Fourth quarter capital expenditure was $61 million, showing an increase from Q4 2022.

• The firm saw a 17% increase in per-visit guest spend since 2021 and paid down over $300m of debt.

Business Progress:

• Six Flags saw a 6% increase in Q4 2023 attendance driven by its Fright Fest season, even amid adverse weather impacts.

• The company launched Six Flags Plus in 2023, aiming to resume growth starting second half of 2024.

• A focus for 2024 is elevating both admission and in-park per capita spending and improving guest offerings.

• As part of its future strategy, the company plans to use free cash flow to pay down debt until it achieves a favorable net leverage ratio.

• Reinforcing its technological prowess, Six Flags invested in AI for operational efficiency and safety, advanced mobile food ordering capabilities, and AI chat guest services.

• The company plans to further monetize the guest experience with exclusive events, immersive experiences such as luxury glamping, and major revamps for popular events like Fright Fest.

More details: Six Flags Entertainment IR

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