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Dec 31, 2025
Cedar Fair Q4 2025 Earnings Report
Six Flags reported lower fourth quarter 2025 revenue and attendance, resulting in a net loss and reduced Adjusted EBITDA compared with the prior year.
Key Takeaways
For Q4 2025, Six Flags generated 650089000 in revenue, down year over year due to lower attendance, while reporting a net loss of 92384000 and operating loss of 24894000. Adjusted EBITDA totaled 165494000 as higher per capita spending partially offset attendance declines.
Net revenues declined 5% year over year to 650089000.
Attendance decreased to 9270000 guests, down 13% from the prior year quarter.
Per capita spending increased 8% to 66.41, driven by higher in-park product and admissions spending.
Adjusted EBITDA declined to 165494000 from 208974000 in the prior year period.
Revenue by Segment
Forward Guidance
Management expressed confidence in restoring sustainable profitable growth through continued investment in attractions, operational improvements, and balance sheet strengthening initiatives.
Positive Outlook
- Plans to continue investing in new family-oriented attractions and record-breaking roller coasters.
- Ongoing upgrades to food and beverage offerings and park infrastructure.
- Refined revenue management and marketing approach.
- Successful refinancing of 2027 notes to strengthen balance sheet.
- Commitment to reducing leverage and improving financial flexibility.
Challenges Ahead
- Attendance declined 13% in the quarter.
- Operating loss of 24894000 compared to operating income in prior year.
- Adjusted EBITDA decreased year over year.
- Higher SG&A expenses driven by wage and technology costs.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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