Cedar Fair Earnings: Everything You Must Know Now

Cedar Fair LP (NYSE:FUN) delivered a profit and beat Wall Street’s expectations, AND beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company.

Cedar Fair LP Earnings Cheat Sheet

Results: Adjusted Earnings Per Share increased 30.77% to $0.85 in the quarter versus EPS of $0.65 in the year-earlier quarter.

Revenue: Rose 1.12% to $361.6 million from the year-earlier quarter.

Actual vs. Wall St. Expectations: Cedar Fair LP reported adjusted EPS income of $0.85 per share. By that measure, the company beat the mean analyst estimate of $0.82. It beat the average revenue estimate of $360 million.

Quoting Management: Matt Ouimet, Cedar Fair’s president and chief executive officer said, “Our strong performance in the first half of the year and into the peak summer vacation months reinforces our confidence in our ability to deliver a fourth consecutive year of record results in 2013. We continue to see guests respond favorably to our long-term ‘FUNforward’ growth initiatives which have helped to increase revenues across all aspects of our business. Through this past weekend, we have experienced an increase in guest spend — both in admissions and in-park spending, and an increase in out-of-park revenues, driven largely by our resort accommodations. These results reflect our strong positioning which has allowed us to generate consistently solid results in both the short and long term.”

Key Stats (on next page)…

Revenue increased 765.07% from $41.8 million in the previous quarter. EPS increased to $0.85 in the quarter versus EPS of $-1.95 in the previous quarter.

Looking Forward: Analysts have a more positive outlook for the company’s next-quarter performance. Over the past three months, the average estimate for next quarter’s earnings has risen from a profit of $2.79 to a profit $2.82. For the current year, the average estimate has moved down from a profit of $2.30 to a profit of $1.77 over the last ninety days.

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(Company fundamentals provided by Xignite Financials. Email any earnings discrepancies to earnings [at] wallstcheatsheet.com)