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As of 4:03 PM 12/26/14 All times are local (Market data is delayed by at least 15 minutes).

cedar fair lp (FUN) Key Developments

Cedar Fair, L.P. Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 28, 2014; Revises Earnings Guidance for the Full Year of 2014; Announces Loss on Impairment/Retirement of Fixed Assets for the Third Quarter of 2014

Cedar Fair, L.P. announced unaudited consolidated earnings results for the third quarter and nine months ended September 28, 2014. For the quarter, the company reported that it's net revenues increased to a record $595 million for the third quarter, up from $592 million in the third quarter a year ago. Net income allocated to limited partners was $162 million, or $2.90 per diluted LP unit, compared with net income of $190 million, or $3.41 per diluted LP unit, during the same period last year. The increase in revenues for the quarter was the result of a 2%, or $0.85, increase in average in-park guest per capita spending, offset somewhat by 1% decreases in both attendance and out-of-park revenues. Adjusted EBITDA was $316 million compared with $318 million for the same period last year. The decrease in Adjusted EBITDA for the quarter is the result of higher operating costs associated with the company's long-term commitment to enhancing the overall guest experience, combined with a slight year-over-year decrease in attendance. This was partially offset by increased net revenues in the quarter which were driven by the higher guest spending levels. Operating income was $252,933,000 compared to $266,723,000 a year ago. Income before taxes was $211,305,000 compared to $248,449,000 a year ago. EBITDA was $290,995,000 compared to $331,456,000 a year ago. For the nine months, the company reported net revenues of $998,798,000 compared to $995,495,000 a year ago. Operating income was $273,203,000 compared to $297,858,000, a year ago. Income before taxes was $148,604,000 compared to $162,714,000 a year ago. Net income allocated to limited partners was $124,378,000 or $2.19 per diluted share compared to $128,687,000 or $2.31 per diluted share a year ago. EBITDA was $332,135,000 compared to $348,054,000 a year ago. Adjusted EBITDA was $394,724,000 compared to $405,186,000 a year ago. For the quarter, the company reported loss on impairment/retirement of fixed assets, net of $1,475,000 compared to $1,637,000 a year ago. The company revised earnings guidance for the full year of 2014. For the period, the company expects net revenues to be at the lower end of the current guidance of $1.15 billion to $1.17 billion. The company also anticipate being at the lower end o the current Adjusted EBITDA guidance range of $425 million to $435 million.

Cedar Fair, L.P. Declares Quarterly Cash Distribution, Payable on December 15, 2014

Cedar Fair, L.P. declared a quarterly cash distribution of $0.75, a 7% increase from the prior quarter. The distribution is payable on December 15, 2014 to unit holders of record as of December 3, 2014.

Cedar Fair, L.P. Presents at Wells Fargo Technology, Media and Telecom Conference 2014, Nov-13-2014 10:00 AM

Cedar Fair, L.P. Presents at Wells Fargo Technology, Media and Telecom Conference 2014, Nov-13-2014 10:00 AM. Venue: The Waldorf Astoria, 301 Park Avenue, New York, NY 10022, United States. Speakers: Lisa Broussard, IR, Stacy L. Frole, Director of Investor Relations - Cedar Fair Management Company.

Cedar Fair, L.P. to Report Q3, 2014 Results on Nov 06, 2014

Cedar Fair, L.P. announced that they will report Q3, 2014 results at 10:00 AM, US Eastern Standard Time on Nov 06, 2014

Cedar Fair, L.P., Q3 2014 Earnings Call, Nov 06, 2014

Cedar Fair, L.P., Q3 2014 Earnings Call, Nov 06, 2014

 

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