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Midas Edge

Six Flags Entertainment Corporation/NEW

For the period ended Mar 29, 2026. Filed May 7, 2026.

View on SEC.gov

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Mar 29, 2026 · Filed May 7, 2026

FUN$10.16-5.6%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits
Contents

Item 1. Financial Statements

UNAUDITED CONSOLIDATED BALANCE SHEETS

March 29, 2026December 31, 2025March 30, 2025
ASSETS
Current assets:
Cash and cash equivalents$116,510$91,134$61,512
Receivables129,898160,283106,023
Litigation recoveries44,52048,90040,000
Income tax receivables47,42154,36011,598
Inventories71,45868,53784,634
Prepaid insurance18,4518,96219,799
Other current assets55,36940,69255,755
Assets held for sale347,153——
830,780472,868379,321
Property and equipment, gross6,738,0507,350,1447,039,875
Accumulated depreciation(2,802,831)(3,055,385)(2,692,004)
Property and equipment, net3,935,2194,294,7594,347,871
Goodwill2,068,8672,071,6803,303,351
Other intangibles, net683,647722,493897,874
Right-of-use assets167,237214,986221,742
Other assets23,12922,41613,758
$7,708,879$7,799,202$9,163,917
LIABILITIES AND EQUITY
Current liabilities:
Current maturities of long-term debt$15,038$15,038$210,000
Accounts payable115,17174,181128,887
Deferred revenue345,814293,061368,627
Accrued interest86,71547,41396,505
Accrued taxes27,45035,66834,555
Accrued salaries, wages and benefits40,72945,80732,419
Self-insurance reserves44,92751,33536,327
Litigation reserves55,79355,46562,900
Current NCI call option liability334,178——
Other accrued liabilities82,40467,15065,670
Liabilities held for sale66,940——
1,215,159685,1181,035,890
Deferred tax liabilities335,484488,713353,757
Lease liabilities176,015219,290229,182
NCI call option liability—323,902298,614
Non-current deferred revenue16,58617,7055,545
Non-current self-insurance reserves96,01199,55591,444
Other liabilities14,86214,04336,323
Long-term debt:
Revolving credit loans444,566258,386609,003
Term debt1,446,6991,445,809968,527
Notes3,449,2243,461,8773,460,036
5,340,4895,166,0725,037,566
Commitments and contingencies (Note 1)
Redeemable non-controlling interests235,047235,047241,816
Equity:
Common stock, $0.01 par value; 400,000 shares authorized; 107,420 shares issued and 101,988 shares outstanding as of March 29, 2026 (107,128 and 101,696 shares as of December 31, 2025 and 106,506 and 101,074 shares as of March 30, 2025, respectively)1,0171,0171,010
Additional paid-in-capital2,245,2902,245,5532,209,825
Accumulated deficit(2,031,969)(1,763,369)(383,989)
Accumulated other comprehensive income64,88866,5566,934
279,226549,7571,833,780
$7,708,879$7,799,202$9,163,917

UNAUDITED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS

(In thousands, except per share amounts)

Three months ended
March 29, 2026March 30, 2025
Net revenues:
Admissions$113,500$106,761
Food, merchandise and games78,26465,848
Accommodations, extra-charge products and other33,86329,448
225,627202,057
Costs and expenses:
Cost of food, merchandise, and games revenues21,28721,601
Operating expenses266,893299,479
Selling, general and administrative73,29590,785
Depreciation and amortization107,349102,330
Loss on retirement of fixed assets, net2,4358,098
Loss on impairment of goodwill and other intangibles38,640—
Loss on disposal group27,971—
Loss on other assets—791
537,870523,084
Operating loss(312,243)(321,027)
Interest expense, net94,92887,035
Loss on early debt extinguishment4,053—
Other expense (income), net5,739(1,584)
Loss before taxes(416,963)(406,478)
Benefit for taxes(148,363)(186,760)
Net loss(268,600)(219,718)
Net loss attributable to non-controlling interests——
Net loss attributable to Six Flags Entertainment Corporation$(268,600)$(219,718)
Net loss$(268,600)$(219,718)
Other comprehensive (loss) income, (net of tax):
Foreign currency translation(1,668)9,038
Defined benefit retirement plan—176
Other comprehensive (loss) income, (net of tax)(1,668)9,214
Comprehensive loss(270,268)(210,504)
Comprehensive loss attributable to non-controlling interests——
Comprehensive loss attributable to Six Flags Entertainment Corporation$(270,268)$(210,504)
Weighted average shares of common stock outstanding (See Note 10)
Basic101,485100,094
Diluted101,485100,094
Loss attributable to Six Flags Entertainment Corporation per share of common stock outstanding (See Note 10)
Basic$(2.65)$(2.20)
Diluted$(2.65)$(2.20)

UNAUDITED CONSOLIDATED STATEMENTS OF EQUITY

For the three months endedShares of Common Stock OutstandingCommon StockAdditional Paid-in-CapitalRetained DeficitAccumulated Other Comprehensive Income (Loss)Total Equity
Balance as of December 31, 2024100,350$1,004$2,207,410$(164,271)$(2,280)$2,041,863
Net loss attributable to Six Flags Entertainment Corporation———(219,718)—(219,718)
Equity-based compensation72462,415——2,421
Foreign currency translation adjustment, net of tax————9,0389,038
Defined benefit retirement plan, net of tax $(58)————176176
Balance as of March 30, 2025101,074$1,010$2,209,825$(383,989)$6,934$1,833,780
Balance as of December 31, 2025101,696$1,017$2,245,553$(1,763,369)$66,556$549,757
Net loss attributable to Six Flags Entertainment Corporation———(268,600)—(268,600)
Equity-based compensation292—(263)——(263)
Foreign currency translation adjustment————(1,668)(1,668)
Balance as of March 29, 2026101,988$1,017$2,245,290$(2,031,969)$64,888$279,226

The accompanying Notes to Unaudited Consolidated Financial Statements are an integral part of this statement.

UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS

Three months ended
March 29, 2026March 30, 2025
CASH FLOWS FOR OPERATING ACTIVITIES
Net loss$(268,600)$(219,718)
Adjustments to reconcile net loss to net cash for operating activities:
Depreciation and amortization107,349102,330
Loss on early debt extinguishment4,053—
Loss on impairment of goodwill and other intangibles38,640—
Non-cash loss on disposal group18,775—
Non-cash foreign currency loss (gain) on USD notes5,493(1,332)
Non-cash equity based compensation expense3,77717,076
Deferred income tax benefit(152,946)(189,873)
Other non-cash expenses13,05314,149
Changes in assets and liabilities:
(Increase) decrease in receivables31,48819,959
(Increase) decrease in inventories(9,774)(13,187)
(Increase) decrease in other assets(20,267)(6,056)
Increase (decrease) in accounts payable36,96111,905
Increase (decrease) in deferred revenue70,93665,471
Increase (decrease) in accrued interest39,31342,159
Increase (decrease) in accrued taxes927(3,696)
Increase (decrease) in accrued salaries, wages and benefits(5,202)(18,706)
Increase (decrease) in self-insurance reserves(9,926)(2,961)
Increase (decrease) in other liabilities12,7914,444
Net cash for operating activities(83,159)(178,036)
CASH FLOWS FOR INVESTING ACTIVITIES
Capital expenditures(53,964)(139,932)
Net cash for investing activities(53,964)(139,932)
CASH FLOWS FROM FINANCING ACTIVITIES
Net borrowings on revolving credit loans185,174310,668
Note borrowings1,000,000—
Note payments(1,000,000)—
Payment of debt issuance costs(17,447)—
Payments related to tax withholding for equity compensation(4,039)(14,380)
Other—137
Net cash from financing activities163,688296,425
EFFECT OF EXCHANGE RATE CHANGES ON CASH AND CASH EQUIVALENTS(1,189)(119)
CASH AND CASH EQUIVALENTS
Net increase (decrease) for the period25,376(21,662)
Balance, beginning of period91,13483,174
Balance, end of period$116,510$61,512
SUPPLEMENTAL INFORMATION
Cash payments for interest$47,303$38,145
Interest capitalized2,3513,199
Net cash (refunds) payments for income taxes(3,205)1,109
Capital expenditures in accounts payable19,10941,507
ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.