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Six Flags Entertainment (six – free report) program report First Quarter 2023 Results May 8, before the opening. In its last reported quarter, the company beat the Zacks Consensus Estimate by 39.1%, but missed the revenue estimate by 0.8%.
SIX has beaten analysts’ earnings estimates in two of the past four quarters and missed analysts’ estimates in the other two quarters, with an average surprise of 5.7%.
Trend in Estimate Revisions
The Zacks Consensus Estimate for loss per share has narrowed from 86 cents to 85 cents over the past 30 days. In the same period last year, SIX reported a loss of 76 cents per share. The consensus mark for revenue was $132.7 million, down 3.9% year-over-year.
Factors to be aware of
The company’s quarterly results are expected to be impacted by lower attendance due to fare increases, removal of free tickets and heavily discounted pass offerings.
Still, the company’s forthcoming quarterly per-capita spending on admission likely benefited from higher actual ticket prices, higher single-day ticket mix, and membership revenue beyond the initial 12-month commitment period.
Additionally, the company has been focusing on reducing operating costs by reducing the number of full-time employees, reducing total employee hours and reducing advertising costs.
Lower revenue may have offset the company’s efforts to save costs. However, higher wage rates and increases in repair and maintenance, utilities, and other costs due to inflation could weigh on margins.
The Zacks Consensus Estimate for revenue per enrollment was $42.4 compared to $43.3 a year ago. The consensus estimate for park admission revenue was $68 million, compared with $73 million reported a year earlier.
The consensus estimate for park food, merchandise and other revenue was $53 million, compared with $54 million a year earlier. The consensus estimate for sponsorship, international agreements and lodging revenue was $11.0 million compared to $10.9 million a year earlier.
What the Zacks Model Says
Our proven model predicts that SIX will beat expectations this time around.an aggressive combination EarningsESP A Zacks Rank #1 (Strong Buy), 2 (Buy) or 3 (Hold) increases the odds of an earnings beat.You can discover the best stocks to buy and sell before we report them to us Earnings ESP Filter.
EarningsESP: The company’s earnings ESP is +0.59%.
ranking: It currently has a Zacks Rank #3.
Other Stocks Poised to Beat Earnings
Here are some Zacks stocks Consumer Discretionary Space that investors might consider, as our modeling suggests that these also have the right mix of elements to be profitable this quarter.
Wynn Resorts Ltd. (Wynn – free report) has an Earnings ESP of +105.69%, a Zacks Rank #2.you can see The full list of today’s Zacks #1 Rank stocks is here.
Shares of Wynn Resorts have risen 59.5% over the past year. WYNN’s earnings have beaten estimates in two of the past four quarters and missed estimates twice, with an average surprise of 0.6%.
DISH Network (plate – free report) has an Earnings ESP of +21.55% and a Zacks Rank #3.
Shares of DISH Network have lost 75.8% over the past year. DISH’s earnings beat estimates three times in the past four quarters and missed once, with an average surprise of 63.4%.
Playa Hotels & Resorts Nevada (puglia – free report) has an Earnings ESP of +40.22%, a Zacks Rank #2.
Shares of Playa Hotels & Resorts have risen 14.5% over the past year. PLYA’s earnings have beaten estimates in each of the trailing four quarters, with an average surprise of 419.4%.
Stay informed about upcoming earnings announcements Zacks Earnings Calendar.
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