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Six Flags shares surged after surprising profits as guest spending exceeded pre-pandemic levels

A stock of Six Flags Entertainment Corporation.
Six,
-0.80%

In pre-market trading on Wednesday, attendee and guest spending was also higher than expected, resulting in a 2.8% surge after theme park operators shook unexpected profits and profits far beyond expectations. Net earnings for the quarter to July 4 were $ 70.5 million (81 cents per share) after a loss of $ 136.9 million ($ 162 per share) during the same period in 2020. Net profit was $ 79.5 million (94 cents). Share in 2019. FactSet’s consensus was a loss of 22 cents per share. Revenues were $ 459.8 million, up from $ 19.1 million in the previous year and down 3.7% from 2019, well above FactSet’s consensus of $ 332.2 million. Compared to about 400,000 in 2020 and 10.5 million in 2019, 8.5 million attendees surpassed FactSet’s consensus of 7.2 million with total per capita revenue of $ 51.94 last year. It was $ 35.77, above the $ 42.27 in 2019 and above the expected $ 47.20. .. Mike Spanos, Chief Executive Officer, said: Year-to-date stock prices rose 23.3% until Tuesday for the S & P 500.
SPX,
-0.47%

It advanced 17.2%.

Six Flags shares surged after surprising profits as guest spending exceeded pre-pandemic levels

Source link Six Flags shares surged after surprising profits as guest spending exceeded pre-pandemic levels

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