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Jim Reid-Anderson, Six Flags CEO, on the theme park’s earnings report and its comeback after filing for bankruptcy.
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First quarter that theme park operator narrowed its loss has right now improve joining us now -- a Fox Business exclusive.
It's Six Flags CEO Jim Reid Anderson Jim thanks so much for joining us.
It's a pleasure to be on your show Melissa.
Just look at the quarter your loss narrowed it was still -- Below expectations you lost 211 to share the street was looking for dollar 62.
But if there was a bigger loss than expected.
What what how wedding industry got it wrong.
Actually had a I don't believe we did miss expectations we were ahead of all of the analysts who covered us I was a analysts analysts right FactSet expected a lots -- -- dollar sixty -- that's what I'm quoting.
Okay -- -- -- to eight -- 88 record quarters in a -- They know strong growth in revenue in attendance.
And our ebitda.
Loss is -- is the lowest in the company's history for this quarter and let me explain why Melissa okay the first quarter if you think about the theme parks.
-- -- bad weather in it in the winter months tends to mean that we don't we don't opens we had very few parks open.
And obviously the cost of operating -- as if we're open so.
In a sense we we lost money but it's not much lower loss than we've ever had before we're on a very good trend -- -- see yourself in the rebuilding cycle right now.
-- -- halfway through three quarters.
I would say that we're probably you know three quarters of the way through -- I said it's a record quarter as the stock is up 215%.
Yet -- -- And it's two years ago.
And death and I think we have we still have a long way to go because I think there's opportunity for attendance growth there's opportunity for a little bit of pricing improvement here.
And I think that you know with our new strategy which is really focused on.
Having used in every single -- something -- innovation and also getting directly.
To our local gas within each of the nineteen -- that we have we think we're gonna see very nice growth going forward city board.
I -- into what the consumer is doing -- obviously this is discretionary income when you're talking about going -- amusement park.
Buying tickets bringing -- family spending money on food how consumer feeling right now.
You know I think it continues to be tough ministers be frankly view.
I'm -- I think there's some optimism generally that the markets tanning and that that would be very good for us.
You know we are not necessarily seeing that change.
What I do think is that set people are being cautious.
And in a sense but that means that we are getting people who made it may have traveled elsewhere or coming to our parks and and continuing to.
To visit because they know that Six Flags is just a fantastic value a great day out at a very reasonable price.
So I'm hopeful that the economy does continue to turn it because I think that will -- the propel our growth.
About right now we're being cautious and I'm not assuming you know some -- It's actually better for your business when times are a little bit -- because rather than going -- -- vacation are traveling far away -- You know visit relatives or or take a long trip instead to go to local amusement -- it's a way to have fun but not -- quite as much money do you.
See that.
I think -- a small element of that in that you know people can literally most of our guests come from within fifty to a hundred miles of our parks they can drive very easily.
I'm but I think the most important thing is that we've really just refocused our strategy minister the company was trying to do a little too much.
We're focused only on regional theme parks we've -- -- in every park every single one of our parts has a new ride a new show.
We -- the single largest drive thru safari outside of Africa right here in this country there's just a lot going on at six flags great place to go.
All right I'm gonna go can't wait you're reading Anderson congratulates aren't part of -- he's so much -- thank that take care what the last time I -- a roller coaster which was like a couple of he didn't.
I -- so -- Those watching that video here it's the idea -- -- -- -- you think that I'm getting old but it -- -- so many places to go at fat and none of them are appropriate.
