DivestmentMay 7, 2026, 04:03 PM
Six Flags Sells 7 Parks for $331.4M; Q1 Net Loss $(268.6)M
AI Summary
Six Flags Entertainment Corporation reported a net loss of $(268.6) million for the three months ended March 29, 2026, an increase from $(219.7) million in the prior year. The company announced the sale of seven parks for an aggregate purchase price of $331.4 million, resulting in a $28.0 million loss on the disposal group. Net revenues increased to $225.6 million from $202.1 million year-over-year, and net cash used in operating activities improved significantly.
Key Highlights
- Sold seven parks for $331.4 million, with US properties closing April 6, 2026.
- Reported Q1 2026 net loss of $(268.6) million, compared to $(219.7) million YoY.
- Net revenues increased to $225.6 million in Q1 2026 from $202.1 million YoY.
- Recognized a $28.0 million loss on the disposal group from the park sales.
- Incurred a $38.6 million loss on impairment of goodwill and other intangibles.
- Basic and diluted loss per share was $(2.65), up from $(2.20) YoY.
- Net cash used in operating activities improved to $(83.2) million from $(178.0) million YoY.
- Current assets held for sale totaled $347.2 million as of March 29, 2026.