SIX says it now expects Q4 revenue to come in $8M-$10M below the year-ago quarter, which would translate to revenues of $259.5M-$261.5M, well below $286M analyst consensus.
"North America parks experienced lower attendance in [Q4] vs. the same period in 2018 due to softer than expected season pass and membership sales, primarily during the holiday sales periods," the company says.
Separately, it says Six Flags-branded projects in China have not progressed as expected, citing the macroeconomic environment and the declining real estate market in China, which has caused Chinese partner Riverside Investment to default on its payment obligations.
SIX says it will not realize any revenue from the China agreements, and it expects a negative $1M revenue adjustment and a one-time $10M charge in Q4.
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