Cedar Fair net revenue down, but record year anticipated

Its services are moving away from a “Here-is-what-we-can-do-for-you” philosophy, and instead embracing a fully customizable “What-can-we-do-for-you” approach
Melissa Topey
May 9, 2014

 

Cedar Fair anticipates a fifth year of record performance.

 

   In the company’s quarterly distribution announcement Thursday, CEO and president Matt Ouimet said the amusement park operator would pay its unitholders 70 cents per unit. The distribution will be paid on June 16.

 

   This is in line with the company’s anticipated yearly distribution rate of $2.80 per unit. Cedar Fair is aiming for another year of record revenue, in the range of $1.16 billion to $1.19 billion. “With eight of our parks now open, we are seeing firsthand the excitement our guests are experiencing as they leave this winter’s snowy, cold weather behind and create new memories with their families and friends,” Ouimet said.

 

   The company also anticipates park guests will react favorably to a shift in thought process. Its services are moving away from a “Here-is-what-we-can-do-for-you” philosophy, and instead embracing a fully customizable “What-can-we-do-for-you” approach.

 

   In the first quarter, January to March 31, Cedar Fair’s net revenues decreased 3 percent to $40.5 million, compared to $41.8 million in the same quarter last year. The company said this was in line with its expectations, and the decrease was entirely the result of the timing shift of the Easter and spring break holiday, which occurred in the second quarter this year, compared to the first quarter of 2013.

 

   Cedar Fair stock closed at $51.18 on Thursday, down 80 cents from the close of business Wednesday, according to the New York Stock Exchange.

Comments

dorothy gale

They can lower their daggone prices, especially on food and drinks!!

GoBigLex2001

I agree!

JMOP's picture
JMOP

The food and drink prices are high. I starve and dehydrate myself so I can afford a $7.00 cheese on a stick. Boy, those are soo yummy!

lifetimeresident

Get a platinum pass and they offer alot of buy1 get 1 free for food.

FalconBall

Platinum pass deals aren't as good as they once were. All the same we put some ham, water bottles, and other items on ice along with a grocery bag of snacks and take at least one meal in the parking lot. Free water at every concession with fountain pop. The prices are typical of movie theaters, professional ballparks, amusement parks and even mall food courts. It's cheaper to make your own food and serve it to yourself unless you calculate the costs of driving to the grocery, buying microwaves, refrigerators, stoves, the house wear the kitchen resides, kitchen utensils and all the time but I suspect were still ahead of eating out every meal.

Nemesis

Most of those items are fixed costs of having a household, though - buying junk food at CP doesn't reduce them.