posted
they have over 1.00 a share in cash--not counting all the property they own--and made that big deal last week in the mid east
Posts: 3056 | Registered: Feb 2005
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posted
going back up--jmo-they shorted down from 1.70 and are covering--on the way to 2.00 short term--jmho
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The Devil Is in Six's Details By Rick Aristotle Munarriz March 10, 2008 0 Recommendations
Even if the economy throws more curves than its signature coasters, Six Flags (NYSE: SIX) is positioning itself to weather the storm this year.
This morning's quarterly report out of the regional amusement park operator is encouraging, with momentum carrying over after a robust finish to 2007, and a 42% surge in EBITDA (adjusted earnings before interest, taxes, depreciation, and amortization) projected for 2008.
Investors normally should not read too much into the final quarter of a company that relies on the summer season to drive the bulk of its performance, but the abridged results bear pointing out.
Thanks to a healthy December, Six Flags' revenue climbed 7% to $112.1 million. With a 4% spike in per-capita spending, stacked on top of a 4% increase in turnstile clicks, the company's top-line results topped Wall Street's expectations. It missed on the bottom line, though. The net loss from continuing operations widened -- from $1.12 a share to $1.43 a share -- but the deficit is padded by non-cash charges like accounting for the removal of poorly performing rides as well as additional stock-based compensation.
Perhaps the biggest news out of this morning's conference call is the upbeat outlook and improved recent performance. A strong December has carried over into year-over-year improvement so far during the first quarter. Sure, most of the parks are still closed, but it's encouraging to see Six Flags improving despite higher gasoline prices and an iffy economy. Those factors may actually be helping the company as locals spring for attractively priced season passes as a substitute for costlier getaways further away.
The company's guidance calls for $270 million in adjusted EBITDA this year, well ahead of the $189.5 million it generated last year. That is based on flat attendance and a modest 1% rise in guest spending. If admissions climb by 3% during the year instead, Six Flags would post its first year of positive free cash flow in recent history.
The cheery outlook was enough to send battered shares of the company soaring 12% at the open, but that's what the market gets for assuming that Six Flags was just going to keel over and file for bankruptcy.
Six Flags is a speculative enigma. Despite the puny market cap, its enterprise value is padded by a whopping $2.2 billion in long-term debt. That is the kind of leverage that will kill you in bad times but pay off handsomely on the other end of a turnaround
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I love this part--------------------The company's guidance calls for $270 million in adjusted EBITDA this year, well ahead of the $189.5 million it generated last year. That is based on flat attendance and a modest 1% rise in guest spending. If admissions climb by 3% during the year instead, Six Flags would post its first year of positive free cash flow in recent history.
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Monday, March 10, 2008 - 2:58 PM EDT Dan Snyder's Six Flags boosts attendanceWashington Business Journal - by Jeff Clabaugh Staff Reporter Print Article Email Article Reprints RSS Feeds Add to Del.icio.us Digg This Related News $897K being raised for Glens Falls group home [Albany] Six Flags considers selling more parks, eying big budget cuts [St. Louis] Building base by tapping friends [Columbus] Six Flags is still losing money, but the theme park chain cut losses and boosted revenue after seeing park attendance rise.
Six Flags, controlled by Redskins owner Dan Snyder, reports a fourth quarter net loss of $126.9 million, or $1.39 per share, compared to a net loss of $189.7 million, or $2.07 per share in the final quarter of 2006.
Revenue rose seven percent to $112.1 million.
Six Flags, which sold eight theme parks to help pay down debt last year, had 2.8 million visitors at its parks during the quarter, up 3.7 percent. Park goers also increased their spending by 3.5 percent.
Six Flags (NYSE: SIX) last week announced a partnership with Dubai Holding LLC to develop its first theme parks outside of North America
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good read from another board---------------------------------------------SIX FLAGS STRATEGY IS CONTEMPORARY 10-Mar-08 10:42 pm Six Flags has a strategy that is relevant to the times we live in. The wealth creation in the Middle East and Asia will be tapped by Six Flags. During recent times the real value of most American's net worth has declined. How? Much higher costs for crude oil affects all Americans who participate in society in an indirect manner due to higher gas prices. Gas to fuel cars, trucks,trains & planes has made a huge rise in price and the consumer pays. Many food commodity prices have gone up, thus as everyone eats food all who pay for this food are spending more. As home ownership is about the highest it has ever been and home equity values are falling in most markets homeowners have less net equity thus less net worth. Many people now have negative equity in their homes. As the $US is now worth a lot less in foreign currency terms than 1 ,2 & 3 years ago many Americans can now only afford to take vacations close to home assuming they have enough money to take any vacation. And those close to a Six Flags can have a great day trip instead of a costly vacation. There are now more parks with features for smaller children. The Six Flags management recognizing the large increases in wealth in both the Middle East and Asia have stepped up to the plate and will be tapping into a new source of revenue. Having others pay for new parks overseas is a smart strategy. Six will receive cash from these new parks without spending the huge amount of capital to build these parks. Once built and running royalty money flowing to Six Flags every year. And another aspect is geographical diversification. __________________
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I was able to grab a few more at 1.57 yesterday. I'm thiinking we may see a pop today but I might just hold til friday.
Posts: 235 | Registered: Jan 2007
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quote:Originally posted by Spectacles: I was able to grab a few more at 1.57 yesterday. I'm thiinking we may see a pop today but I might just hold til friday.
This is the turn up for SIX-this is from yesterday-------Six Flags, which sold eight theme parks to help pay down debt last year, had 2.8 million visitors at its parks during the quarter, up 3.7 percent. Park goers also increased their spending by 3.5 percent. visits up-3.7% increased spending up-3.5% now read this comment from yesterday,which looks like it is going to happen-------------------------The company's guidance calls for $270 million in adjusted EBITDA this year, well ahead of the $189.5 million it generated last year. That is based on flat attendance and a modest 1% rise in guest spending. If admissions climb by 3% during the year instead, Six Flags would post its first year of positive free cash flow in recent history.
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I look for some short covering today--and the DOW is way up this morning---17 million short here could move it up really good--G/L
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from another SIX board------Bill Gates still hanging on! 16 minutes ago Cascade investments is still a large holder in this company. If Bill Gates didn't see a turn around in the future I wouldn't think he would still be into it. I know that relative to his portfolio it's not much money but I don't think he would want to sink money into something he thought would fale. Does anyone think he has conference calls with NY and stays on top of their moves. Just my opinion. Wanted to see what anyone else thinks. Mark should try to convince him into paying down a large portion of the debt in return for unlimited season passes to any parks. lol
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Even though Bill is more of a techie than a financial guy he knows how to make money. I don't believe he holds dead wood at all. You don't compile billions of dollars by investing in losers,,GLTU on this... Posts: 235 | Registered: Jan 2007
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quote:Originally posted by Spectacles: Even though Bill is more of a techie than a financial guy he knows how to make money. I don't believe he holds dead wood at all. You don't compile billions of dollars by investing in losers,,GLTU on this...
I agree, it looks like a few of the shorts are trying to cover the last 15 minuites--G/L
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posted
in at 1.68. Ready to roll once again. Good flipper.
-------------------- All post are my opinion. Do your own DD. Who's clicking your buy/sell button!? Posts: 7800 | From: Virginia | Registered: May 2006
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