Theme park operator Six Flags Entertainment Corp. shares slid 4% in premarket trade Wednesday, after the company missed second-quarter profit and revenue estimates. Six Flags said it had net income of $52.0 million, or 59 cents a share, in the quarter, down from $60.9 million, or 64 cents a share, in the year-earlier period. Revenue rose to $422.4 million from $407.1 million. The FactSet consensus was for EPS of 70 cents and revenue of $438 million. Attendance rose 6% to 9.5 million guests, but spending per capita fell 2%. "Adjusting for the approximately 380,000 guest visits that shifted from the first quarter to the second quarter due to the timing of Easter, second quarter 2017 attendance grew 1 percent," the company said in a statement. "Rainy weather on the East Coast and in Texas negatively impacted attendance in the second quarter, particularly attendance associated with one-day ticket sales, with the resulting higher mix of season pass visitation dampening guest spending per capita." Shares are down 7% in 2017, while the S&P 500 has gained 10.6%.
Copyright © 2017 MarketWatch, Inc.
Continue Reading Below