- Cedar Fair reported fourth quarter revenues of $139.077 million, which are up from last year's Q4 revenues of $129.205 million.
- The company reported a net loss for the quarter of $20.484 million, which is a steeper loss than last year's Q4 loss of $10.324 million.
- On a per share basis, FUN reported a loss of 37 cents, which is worse than last year's Q4 loss of 19 cents per share.
- Cedar Fair missed analysts' Q4 EPS estimates of a 9 cent loss per share, but beat analyst revenue expectations of $136.74 million.
- For the full year, Cedar Fair reported record revenue of $1.135 billion, which is up 6% from last year. Net income for the year came in at $108.2 million, or $1.94 per share.
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Cedar Fair L.P. (FUN) - News
Cedar Fair, L.P. Posts Q4 Net Loss; Misses Estimates (FUN)Feb 20, 2014Amusement park owner and operator Cedar Fair L.P. (FUN) announced its fourth quarter earnings before the opening bell on Wednesday morning, posting a net loss for the quarter. FUN's Earnings in Brief
Cedar Fair Q2 Profit and Revenue Rise, Beating Estimates (FUN)Aug 8, 2013Amusement park operator Cedar Fair, L.P. (FUN) reported early on Thursday that its second quarter net income rose about 30% year-over-year on 1% revenue growth. Both earnings and revenues were able to top Wall Street estimates. The Sandusky, Ohio-based company posted a second quarter net income of $47.390 million, or 85 cents per share, up from $36.58 million, or 66 cents per share, earned in the same period in 2012. According to analysts polled by Thomson Reuters, the company was expected to earn 82 cents per share in the quarter. Cedar Fair's quarterly revenues came in at $361.62 million, up from $357.61 million in the same quarter last year. Analysts were expecting the company to see revenues of $360 million in the most recent quarter. "Our strong capital line-up, coupled with the second year of our 'Thrills Connect' marketing campaign and new e-commerce platform, have resulted in record season pass sales for our 2013 operating season," said Cedar Fair CEO Matthew A. Ouimet. "We have also experienced steady growth in group sales this year, as we continue to add value to our offerings, improve catering facilities and have the second-year benefit of an incentivized sales force. "As we head into the peak vacation month of August and our Halloween period, we are encouraged by the positive momentum we have experienced through July and remain confident in our 2013 plan and growth strategy," added Ouimet. "While we have approximately one-third of the operating season still ahead of us, we expect 2013 to be another record year and are reiterating our expectations for full-year net revenues between $1.090 billion and $1.115 billion and Adjusted EBITDA between $400 million and $410 million." Cedar Fair shares were inactive during pre-market trading on Thursday. The stock is up 29.21% year-to-date. The Bottom Line Shares of Cedar Fair (FUN) offer a dividend yield of 5.78% based on last night's closing price of $43.22 and the company's annualized dividend payout of $2.50 per share. Cedar Fair, L.P. (FUN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
Goldman Sachs Maintains "Neutral" Rating on Cedar Fair Following Investor Day (FUN)Jul 1, 2013Following an investor investor day with Cedar Fair, L.P. (FUN) , analysts at Goldman Sachs reiterated their "Neutral" rating on the amusement park operator on Friday, as the company's first half of 2013 revenues have been slightly below previous estimates. The analysts see shares of FUN reaching $43, which suggests a 4% upside to the stock's Friday closing price of $41.40. A Goldman Sachs analyst noted, “On 6/27, Cedar Fair held an investor day at their flagship park, Cedar Point. The tone of the day was upbeat. While the focus was mainly on the long-term opportunity and direction of the company, FUN also provided year-to-date (through June 23) revenue, attendance and per cap figures. Total revenue is up 5.0%, slightly below GS 1H13 revenue forecast of up 5.7% but above consensus of up 3.8%. Attendance is up 1% above GS forecast of up 0.1% but in-park guest per cap of +4% was below our forecast of 5.7%. Management cautioned though that thus far, we are only roughly 37% of operating days and 25% of budgeted attendance. They indicated that same park attendance, adjusting for the park they sold and two parks now combined, would actually be up slightly above 1%.” Cedar Fair shares were inactive during pre-market trading on Monday. The stock is up 23.77% year-to-date. The Bottom Line Shares of Cedar Fair (FUN) have a dividend yield of 6.04% based on Friday's closing price of $41.40 and the company's annualized dividend payout of $2.50 per share. Cedar Fair, L.P. (FUN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
Cedar Fair Announces YTD Net Revenue; Reaffirms Guidance (FUN)Jun 27, 2013At an investor presentation held at Cedar Point, Cedar Fair (FUN) gave an update on its net revenues up until June 23. The company revealed that net revenues were up 5% compared to the same period last year, as a result of increased attendance and increased per-visitor spending. Also helping net revenues was a 5% increase in out-of-park revenues. Cedar Fair's president and CEO, Matt Ouiment, went on to reaffirm the company's guidance: "Based on our 2013 performance to date, we reaffirm our 2013 guidance for net revenue in the range of $1.090 billion to $1.115 billion and Adjusted EBITDA to be between $400 million to $410 million. We also remain well on track to achieve our targeted Adjusted EBITDA of at least $450 million by 2016." Cedar Fair shares were up $1.11, or 2.73%, today. The company is up more than 13% YTD. The Bottom Line Shares of Cedar Fair (FUN) have a dividend yield of 6.15% based on today's closing price of $40.64 and the company's annual dividend of $2.50. Cedar Fair (FUN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
The following companies announced a change in their dividend payouts today. Companies Increasing Dividend Payouts Deere & Co. (DE) has raised...
Cedar Fair Q3 Earnings Miss Estimates; Will Boost Distribution 56% (FUN)Nov 6, 2012Amusement park operator Cedar Fair L.P. (FUN) on Tuesday posted disappointing third quarter earnings results, but noted it would increase its partnership distributions substantially for fiscal 2013. The Sandusky, OH-based company reported third quarter net income of $111.6 million, or $2.00 per share, compared with just $71.6 million, or $1.28 per share, in the year-ago period. Excluding special items, adjusted profit was $2.51 per share. On average, Wall Street analysts expected a much higher profit of $2.51 per share in the latest quarter. In a separate announcement, FUN said it plans to increase its annual distribution to shareholders to $2.50 per share for fiscal 2013, up from a current level of $1.60 per share. Cedar Fair shares posted small gains in premarket trading Tuesday. The Bottom Line Shares of Cedar Fun L.P. (FUN) have a 4.47% dividend yield, based on last night's closing stock price of $35.80. The stock has technical support in the $32 price area. The shares are trading near all-time highs. Cedar Fair L.P. (FUN) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars. Be sure to visit our complete recommended list of the Best Dividend Stocks, as well as a detailed explanation of our ratings system here.
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