Cedar Fair LP

NYSE:FUNUnited States

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• Cedar Fair's Fiscal Q1 Net Loss Narrows, Revenue Rises, from 16 hours ago by MT Newswires

  16 hours ago by MT Newswires
  Companies Mentioned: FUN
  09:08 AM EDT, 05/09/2024 (MT Newswires) -- Cedar Fair (FUN) reported a fiscal Q1 net loss Thursday of $133.5 million, narrowing from a loss of $134.5 million a year earlier. The entertainment company did not provide per-share earnings for the quarte...

• DJ Cedar Fair Saw More Visitors, Less Spending in 1Q -- Market Talk, from 17 hours ago by Dow Jones

  17 hours ago by Dow Jones
  Companies Mentioned: FUN
  
  0758 ET - Cedar Fair logged a 20% jump in revenue during 1Q to $101.6M, clearing analyst expectations, thanks to a 27% rise in attendance and a 21% bump in its smaller out-of-park revenue channel. That boost in visits was partially offset by a 6% decline in in-park spending as the company lowered season pass prices. 1Q historically accounts for only about 5% of the company's full-year attendance and revenue, since most parks in its portfolio are closed. This year, Cedar Fair cut 1Q operating days to 117 from 161 a year ago. Yet attendance still increased due primarily to higher season pass sales and better weather at Knott's Berry Farm, along with an extra week in the quarter. (dean.seal@wsj.com)
  

• -- Earnings Flash (FUN) CEDAR FAIR ENTERTAINMENT COMPANY Posts Q1 Revenue $101.6M, from 21 hours ago by MT Newswires

  21 hours ago by MT Newswires
  Companies Mentioned: FUN
  04:08 AM EDT, 05/09/2024 (MT Newswires) -- ...

• Cedar Fair Reports First Quarter 2024 Results, from 21 hours ago by Business Wire

  21 hours ago by Business Wire
  Companies Mentioned: FUN

  Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement parks, water parks and immersive entertainment, today announced financial results for its first quarter ended March 31, 2024, which included a planned extra week compared to the first quarter of 2023 due to a fiscal calendar shift. To provide more informative comparisons, results for the first quarter of 2024 are also compared on a same-week basis with the three months ended April 2, 2023.

• *DJ Cedar Fair 1Q Loss $133.5M >FUN, from 21 hours ago by Dow Jones

  21 hours ago by Dow Jones
  Companies Mentioned: FUN
  Total partners' deficit $ (730,919) $ (793,240) CEDAR FAIR, L.P. RECONCILIATION OF ADJUSTED EBITDA (In thousands) Three months ended ------------------------------------ March 31, 2024 March 26, 2023 ---------------- ------------------ Net loss $ (133,467) $ (134,546) Interest expense 34,696 32,129 Interest income (360) (514) Benefit for taxes (32,416) (24,090) Depreciation and amortization 10,312 13,681 ----------- ----------- EBITDA (121,235) (113,340) Non-cash foreign currency loss 5,239 3,703 Non-cash equity compensation expense 5,284 5,053 Loss on impairment / retirement of fixed assets, net 2,614 3,636 Costs related to proposed merger (1) 10,147 -- Other (2) 771 (116) ----------- ----------- Adjusted EBITDA (3) (97,180) (101,064) ----------- ----------- (1) Consists of $6.4 million of third-party legal and consulting transaction costs and $3.7 million of third-party integration consulting costs related to the proposed merger with Six Flags. These costs are added back to net loss to calculate Adjusted EBITDA as defined in the Company's current and prior credit agreements. (2) Consists of certain costs as defined in the Company's current and prior credit agreements. These costs are added back to net loss to calculate Adjusted EBITDA and have included certain legal expenses, severance and related benefits and contract termination costs. This balance also includes unrealized gains and losses on short-term investments. (3) Adjusted EBITDA represents earnings before interest, taxes, depreciation, amortization, other non-cash items, and adjustments as defined in the Company's current and prior credit agreements. The Company believes Adjusted EBITDA is a meaningful measure as it is widely used by analysts, investors and comparable companies in the industry to evaluate operating performance on a consistent basis, as well as more easily compare the Company's results with those of other companies in the industry. Further, management believes Adjusted EBITDA is a meaningful measure of park-level operating profitability and uses it for measuring returns on capital investments, evaluating potential acquisitions, determining awards under incentive compensation plans, and calculating compliance with certain loan covenants. Adjusted EBITDA is provided as a supplemental measure of our operating results and is not intended to be a substitute for operating income, net income or cash flows from operating activities as defined under generally accepted accounting principles. In addition, Adjusted EBITDA may not be comparable to similarly titled measures of other companies.