Six Flags Entertainment (NYSE:SIX) shares gained more than 23% since the company’s reported Q3 results on Thursday. While both EPS of $1.39 and revenue of $505 million came in worse than the Street estimates of $1.77 and $582.65 million, shares rose on a more optimistic outlook for 2023 based on positive data points about October, with season pass sales in the month improving “significantly” and management expecting that momentum to continue.
Furthermore, the company announced that H Partners will increase its beneficial ownership of Six Flags common stock from 14.9% (cap in the original agreement) to 19.9%.