Before the bell on Wednesday, amusement park operator Six Flags Entertainment Corp (SIX) reported that it was able to turn a profit in the fourth quarter with adjusted net and revenue coming in above Wall Street expectations.
The Grand Prairie, Texas-based company posted a net income of $143.83 million, or $2.59 per share, versus a loss of $102.01 million, or $1.85 per share, in the same quarter a year earlier.
This earnings result was favorably impacted by some accounting measures that enabled the company to partially reverse a net operating loss. Without accounting for that earnings manipulation, Six Flags reported a loss of 4 cents per share. However, this was better than the analyst expectation of a 50 cents per share loss in the quarter.
Revenue for the quarter came in at $143.93 million, up from $137.56 million in the prior year quarter. Analyst had projected a fourth quarter revenue of $135.96 million for Six Flags.
Six Flags shares were up $3.11, or +4.88%, during pre-market trading on Wednesday. The stock is up about 35% over the past year.
The Bottom Line
Shares of Six Flags (SIX) have a dividend yield of 5.65% based on last night’s closing price of $63.73 and the company’s annualized dividend payout of $3.60 per share.
Six Flags Entertainment Corp (SIX) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
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