SIX stock was falling hard on Thursday despite Six Flags earnings for the fourth quarter of 2018 beating estimates.
Six Flags (NYSE:SIX) reported earnings per share of 93 cents for the fourth quarter of the year. This is down from its earnings per share of $1.12 from the same time last year. However, it did easily blow past Wall Street’s earnings per share estimate of 27 cents for the quarter.
Net income reported by Six Flags for the fourth quarter of 2018 was $79.42 million. This is a drop from the company’s net income of $98.01 million that was reported in the fourth quarter of 2017.
The real blow to SIX stock from the Six Flags earnings report for the fourth quarter of the year is revenue of $269.50 million. The amusement park company’s revenue from the same period of the year prior was $256.76 million. Unfortunately for SIX stock, analysts were expecting the company to report revenue of $284.23 million in the fourth quarter of 2018.
Six Flags earnings for the full year were also a mixed bag for the company. This has earnings per share for 2018 coming in at $3.23. This is up from its earnings per share of $3.09 from the same time in 2017. It also beats out Wall Street’s earnings per share estimate of $2.59 for the year.
Just like with its fourth quarter results, revenue of $1.46 billion was below analysts’ estimates of $1.48 billion for 2018. However, it is worth noting that this is an increase over the company’s revenue of $1.36 billion in 2017.
SIX stock was down 12% as of noon Thursday.
As of this writing, William White did not hold a position in any of the aforementioned securities.