Six Flags has some good news to report in their 2010 2nd quarter results.
We won’t bore you with all of the small details, but the company highlighted these important points:
- Revenues increased by 7% for Quarter 2 and the first six months of 2010. This was driven by increases in attendance and sponsorship.
- Q2 Adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) increased 68% to $94.7 million driven by top line growth and effective cost management.
- Strong liquidity position, including cash balance of $210 million as of August 1st with no revolver drawn, enables $25 million pay down of first lien term loan.
- Six Flags emerges from bankruptcy with approximately one-third of the annual financing cost burden (approximately $75 million) and over $1 billion in federal NOLs
- New management team in place focused on theme park excellence and shareholder value creation.
I like part of the last bullet: “focused on theme park excellence.” If the company can retain this mindset, I believe we’ll see Six Flags continue in the right direction.
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