<p>Six Flags (NYSE: SIX) gains for the amusement park’s fourth quarter 2019 SIX shares fell sharply on Thursday. This after reporting diluted losses per share of -13 cents. It is well below the Wall Street estimate of 15 percent per profit (share) for the quarter. However, revenue of $ 261 million manages to beat analysts’ estimates of $ 260.11 million.
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Here’s what’s worth noting from the latest Six Flags results report.
Diluted losses per share were a significant decrease from diluted earnings of 93 cents during the fourth quarter of 2018. Revenue for the period decreased by 3.15% from USD 269.5 million during the same period last year. The Six Flags earnings report also included a net loss of $ 11.16 million. It is nowhere near the company’s net profit of $ 79.42 million from the same period the year before.
Mike Spanos, President and CEO of Six Flags, said this about SIX share income:
“We are working diligently to formulate a new strategic plan with the goal of restoring sustainable growth in attendance, revenue and profitability, and also to add board members with critical skills and experience to our board. We will continue our consumer-centric strategy while focusing our organization on action, creativity and relentless execution for the benefit of our guests, our employees and our shareholders. ”
Six Flags earnings report also notes that it does not expect things to get better by 2020. This includes that the company says it will face several headwinds that will affect its earnings. It plans to invest in its core business to try to overcome these obstacles.
The SIX share ended the day with almost 16%.
At the time of writing, William White had no position in any of the above securities.
Article printed from InvestorPlace Media, https://investorplace.com/2020/02/six-flags-earnings-six-stock-sinks-17-on-q4-miss-warnings/.
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