![]() ![]() The decrease in in-park spending per capita was driven primarily by lower spend on parking, retail, and flash passes, resulting from a higher mix of attendance from season passes in second quarter 2023 versus the prior year,” the company said in a statement. “The decrease in admissions spending per capita was driven primarily by lower average pricing on season passes in second quarter 2023 versus second quarter 2022. Revenue was crimped by a $3.11 decline in total guest spending per capita, comprised of the $2.56 decrease in admissions spending and a 55 cent decrease in in-park spending. The FactSet consensus was for EPS of 78 cents and revenue of $465 million. Revenue rose 2% to $444 million from $435 million. The Arlington, Texas-based company had net income of $21 million, or 25 cents a share, for the quarter to July 2, down from $45 million, or 53 cents a share, in the year-earlier period. Six Flags Entertainment Corp.’s stock SIX slid 5% premarket Thursday, after the theme park operator posted weaker-than-expected second-quarter earnings and revenue that fell short of estimates. Six Flags’ stock slides 5% premarket after earnings fall short of estimates The stock has shed 8.2% over the past three months through Wednesday while the S&P 500 SPX has gained 8.0%. For 2023, the company raised its guidance ranges for adjusted EPS to between $2.23 and $2.32 from between $2.12 and $2.23. Drinkware sales rose 8% to $233.4 million while coolers and equipment sales dropped 19% to $156.6 million. Yeti initiated in March voluntary recalls of some Hopper coolers and SideKick Dry gear cases. Sales slipped 4.2% to $402.6 million, below the FactSet consensus of $411.5 million, as a recall reserve adjustment negatively impacted sales by $24.5 million. ![]() Excluding nonrecurring items, adjusted earnings per share of 57 cents beat the FactSet consensus of 47 cents. Net income fell to $38.1 million, or 44 cents a share, from $46.3 million, or 53 cents a share, in the year-ago period. YETI hiked up 1.9% in premarket trading Thursday, after the the maker of drinkware, coolers and outdoor products missed second-quarter revenue expectations but beat on profit and raised its full-year outlook. ![]() Yeti stock gains after profit beat and raised outlook, while sales miss due to recall reserve adjustment ![]()
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