A 10-fold increase in stock compensation helped reduce third-quarter profit at Six Flags’ parent company, the theme park operator said after the market closed Tuesday.
Revenue for Grand Prairie-based Six Flags Entertainment Corporation, in the quarter that ended Sept. 30, grew to a record $541.8 million, a 7 percent gain over the year-ago period.
Operating expenses grew 7 percent, fueled in part by a line item for stock-based compensation that grew from $7.08 million a year ago to $78.17 million in the just-ended quarter.
Six Flag’s profit for the quarter was $105.03 million, or $1.08 a diluted share, down from $120.4 million or $1.22 a share a year ago.
The company’s stock was trading near $43 a share earlier in the year. It gained nearly 4 percent to close Tuesday at $34.50 and was up nearly 10 percent in after-hours trading.