六旗娱乐二季度业绩未达预期,分析师称多为“光学”而非实质性问题

投资观察
Aug 07

1423 ET——Mizuho分析师指出,若穿透表面噪音,六旗娱乐(Six Flags)二季度表现实则“相当可观”。分析师Ben Chaiken认为,在同类公园运营天数低于预期200个基点的情况下,游客量仍实现3.5%的同比增长,达到健康水平,这“在运营天数较我们预期低200个基点的背景下,是令人鼓舞的”。

尽管同类公园EBITDA为2.49亿美元,未达预期,但Chaiken在研报中表示,这种“未达预期更多是‘光学’上的,而非实际意义上的”。他将此归因于“多个变动因素”,包括七座公园的出售及一座公园的关闭。

“我们(以及市场,可能也是如此)所使用的去年同期‘同店’游客量,高估了52万人次(因此推高了2026年二季度的预估/基准),”Chaiken表示。这构成了营收与EBITDA未达预期的主要部分,而“人均消费略低则是剩余差距”。

受此影响,六旗娱乐股价暴跌17%。

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