Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at Six Flags (NYSE:SIX) and the best and worst performers in the leisure facilities industry.
Leisure facilities companies often sell experiences rather than tangible products, and in the last decade-plus, consumers have slowly shifted their spending from "things" to "experiences". Leisure facilities seek to benefit but must innovate to do so because of the industry's high competition and capital intensity.
The 13 leisure facilities stocks we track reported a weaker Q1; on average, revenues beat analyst consensus estimates by 1.6%. while next quarter's revenue guidance was 5.2% below consensus. Stocks, especially growth stocks where cash flows further in the future are more important to the story, had a good end of 2023. But the beginning of 2024 has seen more volatile stock performance due to mixed inflation data, but leisure facilities stocks have performed well, with the share prices up 11.1% on average since the previous earnings results.
Six Flags (NYSE:SIX) Sporting the fastest rollercoaster in the United States, Six Flags (NYSE:SIX) is a regional theme park operator offering thrilling rides, entertainment, and family-friendly attractions.
Six Flags reported revenues of $133.3 million, down 6.3% year on year, falling short of analysts' expectations by 2.5%. Overall, it was a weak quarter for the company with a miss of analysts' earnings estimates.
"Our 2024 season is off to a promising start, with 2024 season pass sales through April increasing by double-digits compared to last year, pre-booked group sales approaching pre-pandemic levels, and our park beautification and technology initiatives resonating strongly with our guests," said Selim Bassoul, President and CEO.
Six Flags delivered the slowest revenue growth of the whole group. The stock is up 30.3% since reporting and currently trades at $32.66.
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Best Q1: United Parks & Resorts (NYSE:PRKS) Parent company of SeaWorld and home of the world-famous Shamu, United Parks & Resorts (NYSE:PRKS) is a theme park chain featuring marine life, live entertainment, roller coasters, and waterparks.
United Parks & Resorts reported revenues of $297.4 million, up 1.4% year on year, outperforming analysts' expectations by 4.5%. It was an very good quarter for the company with an impressive beat of analysts' earnings estimates and a narrow beat of analysts' visitors estimates.
The market seems happy with the results as the stock is up 20.1% since reporting. It currently trades at $59.01.
Weakest Q1: Dave & Buster's (NASDAQ:PLAY) Founded by a former game parlor and bar operator, Dave & Buster’s (NASDAQ:PLAY) operates a chain of arcades providing immersive entertainment experiences.
Dave & Buster's reported revenues of $588.1 million, down 1.5% year on year, falling short of analysts' expectations by 4.5%. It was a weak quarter for the company with a miss of analysts' earnings estimates.
Dave & Buster's had the weakest performance against analyst estimates in the group. As expected, the stock is down 20.4% since the results and currently trades at $40.12.
Vail Resorts (NYSE:MTN) Founded by two Aspen, Colorado ski patrol guides, Vail Resorts (NYSE:MTN) is a mountain resort company offering luxury experiences in over 30 locations across the globe.
Vail Resorts reported revenues of $1.28 billion, up 3.6% year on year, falling short of analysts' expectations by 1.5%. Taking a step back, it was a weak quarter for the company with a miss of analysts' earnings estimates.
The stock is down 7.1% since reporting and currently trades at $180.26.
Xponential Fitness (NYSE:XPOF) Owner of CycleBar, Rumble, and Club Pilates, Xponential Fitness (NYSE:XPOF) is a boutique fitness brand offering diverse and specialized exercise experiences.
Xponential Fitness reported revenues of $79.52 million, up 12.5% year on year, in line with analysts' expectations. More broadly, it was a weaker quarter for the company with a miss of analysts' earnings estimates.
The stock is up 33.9% since reporting and currently trades at $18.
This content was originally published on Stock Story
