Michael Russell
Head of Investor Relations
Replay available
Six Flags Entertainment Corporation Common Stock New (FUN) Q4 2025 Earnings Call
Six Flags Entertainment Corporation Common Stock New (NYSE: FUN) Q4 2025 earnings conference call, held 2026-02-19. Replay captured from the company's public earnings webcast.
Hosted by
Featured presenters
Thomas Yeh
Analyst, Morgan Stanley
Adam Fox
Analyst, Tourist Securities
Anthony Owen
Analyst, Jefferies
Steve Wisinski
Analyst, Stifel
James Hardiman
Analyst, Citi
Investor webinar replay
Watch the replay and follow the connected company analysis, news, and investor updates for Six Flags Entertainment Corporation.
Replay transcript excerpt
WEBVTT 00:00:00.031 -- 00:00:01.158 Good morning, everyone. 00:00:01.158 -- 00:00:06.256 My name is Ellie, and I will be your conference operator today. 00:09:58.317 -- 00:10:03.243 providing an update on select balance sheet items as well as early performance indicators 00:10:03.243 -- 00:10:05.245 for the season ahead. 00:10:05.245 -- 00:10:10.211 For the fourth quarter, we are in the middle of our guidance range, delivering adjusted 00:10:10.211 -- 00:10:15.236 EBITDA of $165 million on attendance of 9.3 million guests and 00:10:15.236 -- 00:10:18.160 revenues of $650 million. 00:10:18.160 -- 00:10:23.266 Two dynamics impacted the quarter. First, results for the quarter were up against a record 00:10:23.266 -- 00:10:29.030 performance in October of 2024, which we discussed on our last earnings call. 00:10:29.030 -- 00:10:33.737 Secondly, operating days and the winter holiday calendar mattered a lot. 00:10:33.737 -- 00:10:38.904 We operated 779 days in the fourth quarter of 2025 versus 00:10:38.904 -- 00:10:43.991 878 days last year. As was expected, and as we discussed last 00:10:43.991 -- 00:10:48.277 quarter, a significant portion of the decline in operating days reflects our decision 00:10:48.277 -- 00:10:53.624 not to operate winter holiday events at four parks, a decision that was made earlier 00:10:53.624 -- 00:10:58.657 in the year. In hindsight, that decision did not optimize profits at every part 00:10:58.657 -- 00:11:03.541 the way we needed it to. Those events can be meaningful demand drivers, and removing 00:11:03.541 -- 00:11:08.666 them created a self-inflicted headwind in terms of both attendance and operating leverage. 00:11:08.666 -- 00:11:13.811 We're taking that learning directly into our planning for 2026, and we will rethink 00:11:13.811 -- 00...