Six Flags reported fourth-quarter sales of $650.089 million, down 5% from the prior year, with an adjusted loss of $0.91 per share versus a $0.22 per-share loss expectation. Adjusted EBITDA totaled $165 million compared with $209 million a year earlier, and the company ended the quarter with $91.134 million in cash and equivalents.

Attendance declined 13% to 9.3 million visits, or a 2% decrease on a per-operating-day basis, while per-capita spending climbed 8% to $66.41—driven by $35.32 in admissions and $31.10 in in-park purchases. Out-of-park revenues rose 8% to $51 million, reflecting stronger sponsorship and premium experience demand.

Management attributed underperformance to execution gaps at specific parks and a broad decision to eliminate winter holiday events at four locations, which reduced attendance by approximately 425,000 visits and failed to optimize profitability across the portfolio.

The company is transitioning to a localized test-and-learn framework after identical promotions yielded varied results regionally, shifting spending from foundational IT and ERP integrations to high-ROI physical asset improvements such as restoring coaster train capacity. A new frontline feedback channel has generated over 300 efficiency proposals ready for scaling.