Six Flags Entertainment Corporation Common Stock New

Thank you for standing by. My name is Novi and I will be your conference operator today. At this time, I would like to welcome everyone to the Six Flags Entertainment Corporation 2024 fourth quarter earnings call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you'd like to withdraw your question, press star 1 again. We also ask that you please limit your questions to one question, one follow-up. Thank you. I would now like to turn the call over to Six Flags Management. Please go ahead.

Thank you, Novi, and good morning, everyone. My name is Michael Russell, Corporate Director of Investor Relations for Six Flags. Welcome to today's earnings call to review our 2024 fourth quarter financial results for Six Flags Entertainment Corporation. Earlier this morning, we distributed via wire service our earnings press release, a copy of which is also available under the news tab of our investor relations website at investors.sixflags.com. Before we begin, I need to remind you that comments made during this call will include forward-looking statements within the meaning of the federal securities laws. These statements may involve risks and uncertainties that could cause actual results to differ from those described in such statements. For a more detailed discussion of these risks, you may refer to the company's filings with the SEC. In compliance with the SEC's Regulation FD, this webcast is being made available to the media and general public, as well as analysts and investors. Because the webcast is open to all constituents and prior notification has been widely and unselectively disseminated, All content on this call will be considered fully disclosed. On the call with me this morning are Six Flags Chief Executive Officer Richard Zimmerman and Chief Financial Officer Brian Witherow. With that, I'll turn the call over to Richard for some opening remarks. Richard.

Thank you, Michael. Good morning and thanks everyone for joining us today. As we close out 2024, I want to take a moment to recognize the incredible work of our team this past year. I couldn't be more pleased with what we have accomplished, particularly since the completion of the merger, and I've never been more excited about what this company can achieve for our guests, associates, and shareholders moving forward. Looking back at 2024, we wrapped up the year by delivering a record October performance and outstanding fourth quarter results, all while capturing close to half of our target merger-related cost synergies. Through strong revenue growth and disciplined cost management initiatives, we boosted modified EBITDA margins in the fourth quarter by 650 basis points, another meaningful step in returning operating margins back to historical levels. And by taking decisive actions within days of finalizing the merger, we immediately drove guest satisfaction scores higher, a critically important first step in improving our cost value proposition and driving demand levels higher. Heading into the 2025 season, early trends indicate consumer demand remains strong for high-quality entertainment experiences. Although it represents a limited sample size, attendance in the first two months of the year is up 2% and sales of season pass units are up 3%, both positive indicators for the season ahead. Given our strong fourth quarter and the solid start to 2025, at this time, We believe the general economic environment for our consumers remains healthy, with park goers showing a willingness to spend their entertainment dollars on the high quality and differentiated experience that we offer. With that positive outlook as a backdrop and our integration efforts progressing well, we are targeting adjusted EBITDA of $1.08 billion to $1.12 billion this year. representing an initial step function of growth for our expanded portfolio. Before I ask Brian to provide a closer look at our financial results, let me shift gears for a moment to address the recent wildfires in the LA area. Our immediate concern at the time was for the safety and well-being of our guests, associates, and neighboring communities. We are proud to have supported local first responders who used Magic Mountain's parking areas for staging crews and emergency equipment, during critical containment efforts. We are fortunate that neither Knott's Berry Farm nor Magic Mountain was directly affected. We will continue to monitor the situation closely, assessing any potential impact on our business as we get closer to the core operating season. In the meantime, we remain focused on supporting our associates and local communities through the recovery. With that, I'll turn it over to Brian.