Six Flags Entertainment (NYSE:FUN), the largest regional amusement park operator in North America following its 2024 merger of legacy Six Flags and Cedar Fair operations, reported a narrowed fourth-quarter net loss for 2025.
Net revenues for the fourth quarter ended Dec. 31, 2025, totaled $650 million, down $37 million or 5% from the year-earlier period, largely reflecting an 11% reduction in operating days to 779 from 878 in the prior year.
On a per operating day basis, net revenues rose 7%, driven by stronger pricing and in-park spending.
Attendance came in at 9.3 million guests, down 13% or about 1.4 million visitors year over year, but declined only 2% on a per-day basis.
Per capita spending increased 8% to $66.41, underscoring the combined company's success in driving higher guest spend through premium offerings, food and beverage enhancements, and targeted upselling initiatives.
The company posted a net loss attributable to Six Flags Entertainment of $92 million for the quarter, a significant improvement from the $264 million loss in the fourth quarter of 2024, which had included substantial merger-related and integration expenses.
Adjusted EBITDA totaled $165 million, down from $209 million a year earlier, reflecting the impact of reduced operating days, ongoing integration costs, and weather-related attendance softness in certain markets.
For the full year 2025, net revenues reached $3.10 billion with total attendance of 47.4 million guests.