Six Flags beats Street 4Q forecasts

Six Flags Entertainment Corp. has appointed Mike Spanos as president and CEO effective Nov. 18, and as a member of the Board of Directors effective immediately. Spanos will be relocating to the Dallas-Fort Worth area with his family. Spanos, 55, most recently served as CEO of PepsiCo, Asia, Middle East and North Africa.

GRAND PRAIRIE, Texas (AP) — Six Flags Entertainment Corp. (SIX) on Thursday reported fourth-quarter net income of $2.2 million, after reporting a loss in the same period a year earlier.

On a per-share basis, the Grand Prairie, Texas-based company said it had net income of 2 cents.

The results surpassed Wall Street expectations. The average estimate of six analysts surveyed by Zacks Investment Research was for a loss of 4 cents per share.

The amusement park operator posted revenue of $217.5 million in the period, which also beat Street forecasts. Seven analysts surveyed by Zacks expected $192.6 million.

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For the year, the company reported profit of $154.7 million, or $1.58 per share. Revenue was reported as $1.26 billion.

Six Flags shares have declined 6.5 percent since the beginning of the year. The stock has climbed 13 percent in the last 12 months.