Cedar Fair Beats Expectations with Q1 Earnings of $1.04 Per Share
August 8, 2023
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Cedar Fair ($NYSE:FUN), a leading amusement park and resort company, has recently released its Q1 earnings report with a higher-than-expected result of $1.04 per share. This result is particularly impressive due to the adverse economic conditions faced during the first quarter of 2021. The company’s ability to beat expectations is a testament to its strong management and strategic decisions. Cedar Fair’s Q1 performance was further boosted by its concerted efforts to reduce overall costs during the period. The company also made significant investments in the digital side of its business, which resulted in increased customer engagement and higher revenues.
Furthermore, Cedar Fair’s theme parks experienced healthy growth in attendance, which was driven by the introduction of new rides and attractions. Overall, Cedar Fair’s Q1 earnings of $1.04 per share demonstrate its operational effectiveness and effective cost management strategies. Its focus on improving customer engagement and introducing new attractions has been key to the company’s success. Going forward, investors are optimistic that this performance will continue as Cedar Fair continues to make strategic investments for long-term growth.
Earnings
CEDAR FAIR recently reported its financial performance for the second quarter ending June 30 2021. According to the report, the company earned a total revenue of 224.14M USD and reported a net loss of 58.87M USD. This was a significant drop compared to the previous year, signifying a 56.0% decrease in total revenue and a 216.0% decrease in net income.
However, CEDAR FAIR has seen steady growth over the last three years, with total revenue rising from 224.14M USD to 500.98M USD. This strong performance is expected to continue in the future, as CEDAR FAIR remains focused on providing its guests with memorable experiences.
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Cedar Fair. More…
| Total Revenues | Net Income | Net Margin |
| 1.79k | 264.42 | 8.6% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Cedar Fair. More…
| Operations | Investing | Financing |
| 274.56 | 97.94 | -445.49 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Cedar Fair. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 2.32k | 3.08k | -14.86 |
Key Ratios Snapshot
Some of the financial key ratios for Cedar Fair are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 20.3% | 71.2% | 25.7% |
| FCF Margin | ROE | ROA |
| 3.5% | -37.0% | 12.4% |
Stock Price
Despite this positive news, the stock opened at $41.8 and closed at $40.5, down by 3.6% from last closing price of 42.1. This decline could be attributed to investors anticipating a larger beat of expectations or perhaps a reflection of the generally bearish sentiment in the market at present. Nonetheless, the strong quarterly earnings is a testament to the company’s financial strength and resilience during this turbulent period. Live Quote…
Analysis
GoodWhale has conducted an in-depth analysis of CEDAR FAIR‘s financials. Based on our Risk Rating assessment, CEDAR FAIR is rated as a medium risk investment in terms of financial and business aspects. On the income statement side, GoodWhale detected one risk warning. To get more detailed information about the risk warning, you have to become a registered user of GoodWhale and log in to your account. Once you do, you can access all the details and insights that our analysis has to offer. More…
Peers
Cedar Fair LP is one of the leading entertainment and amusement park companies in the world. The company owns and operates 11 amusement parks, 5 outdoor water parks, 1 indoor water park, and 2 hotels. The company’s parks are located in the United States, Canada, and England. Cedar Fair LP also has a minority interest in the operations of Knott’s Berry Farm, a theme park in California. The company’s closest competitors are Six Flags Entertainment Corp, Life Time Group Holdings Inc, and Planet Fitness Inc.
– Six Flags Entertainment Corp ($NYSE:SIX)
Six Flags Entertainment Corporation is an American amusement park corporation based in Grand Prairie, Texas. It is the largest amusement park operator in the world, with 26 parks across the United States, Mexico, and Canada. The company operates under the brand names of Six Flags, Great Adventure, Magic Mountain, and Hurricane Harbor.
The company has a market capitalization of 1.96 billion as of 2022 and a return on equity of -22.8%. The company operates amusement parks and attractions, including water parks, themed entertainment destinations, and family entertainment centers. The company also owns and operates the Six Flags Discovery Kingdom theme park in Vallejo, California.
– Life Time Group Holdings Inc ($NYSE:LTH)
Lifetime Group Holdings Inc is a holding company that operates in the healthcare industry. The company has a market cap of 2.37B as of 2022 and a Return on Equity of -10.41%. The company operates in three segments: healthcare services, medical devices, and pharmaceuticals. The healthcare services segment provides healthcare services to individuals and families in the United States. The medical devices segment manufactures and sells medical devices to healthcare providers and patients in the United States. The pharmaceuticals segment manufactures and sells pharmaceutical products to healthcare providers and patients in the United States.
– Planet Fitness Inc ($NYSE:PLNT)
Founded in 1992, Planet Fitness is one of the largest and fastest-growing franchisors and operators of fitness centers in the United States. As of December 31, 2020, Planet Fitness had more than 15.3 million members and 2,074 stores in all 50 states, the District of Columbia, Puerto Rico, Canada, the Dominican Republic, Panama, Mexico, and Australia. The company’s mission is to enhance people’s lives by providing a high-quality fitness experience in a welcoming, non-intimidating environment, which they call the “Judgement Free Zone.”
Summary
Cedar Fair, a leading amusement park and resort company, has reported higher than expected earnings for the first quarter of the year. Despite this strong performance, the stock price of the company dropped on the same day. This suggests that investors may be wary of Cedar Fair’s future prospects, as the amusement park industry has faced significant challenges in recent years. Going forward, investors should closely monitor Cedar Fair’s financials to gain a better understanding of the potential risks and opportunities associated with investing in the company.
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