Tue, Apr 29, 8:52 PM (24 days ago)
**Six Flags Entertainment Corporation (FUN) 2024 Financial Summary** **Financial Performance:** - **Revenue:** $2.7 billion, up $0.9 billion from 2023. - **Net Income:** -$231.2 million, down from $124.6 million in 2023 due to increased taxes and interest expenses. - **Adjusted EBITDA:** $875.3 million, up $347.6 million from 2023. - **Earnings per Share (EPS):** Not explicitly stated, but implied by net income and share count. **Strategic Overview:** - **Merger:** Completed a merger-of-equals with Cedar Fair on July 1, 2024, creating a leading amusement park operator with 27 amusement parks, 15 water parks, and 9 resort properties across 17 states in the U.S., Canada, and Mexico. - **Executive Compensation:** Post-merger compensation packages were established, with a focus on performance-based incentives. - **Compensation Philosophy:** Emphasizes performance-based compensation, aligning executive interests with stockholder interests. **Future Outlook:** - **2025 Compensation Program:** Aligned with executives' employment agreements, including base salary, annual cash incentive awards, and long-term equity awards. - **Risk Factors:** Not explicitly detailed in the provided text but generally include operational, financial, and market risks. - **Financial Condition:** Strong balance sheet and disciplined capital allocation strategy. - **Market Position:** Expanded and diversified property portfolio, positioning as a leading amusement park operator. **Changes in Market Position:** - **Merger Impact:** Significant expansion of the property portfolio, enhancing market position. - **Executive Changes:** Board and executive officer changes to strengthen leadership and governance. **Amendment Details:** - **Changes Made:** The amendment focuses on updating executive compensation and governance details post-merger. - **Reasons for Changes:** To reflect the new corporate structure and strategic direction following the merger. - **Impact:** Ensures alignment of executive compensation with stockholder interests and enhances corporate governance. **Note:** Amounts are usually in thousands ($000s).