Six Flags Entertainment Corporation Stock Price, News & Analysis

Cedar Fair (NYSE: FUN) will release its third-quarter financial results for 2022 on November 2, 2022, prior to market opening. A conference call hosted by management, including President and CEO Richard Zimmerman, will take place at 10 a.m. EDT on the same day to discuss details of the results and the company's business outlook. Investors can access the live audio webcast on Cedar Fair's investor site. Cedar Fair operates 13 amusement and water parks across various states and Ontario, Canada, offering immersive entertainment experiences.

Cedar Fair, L.P. (NYSE: FUN) announced changes to its Board of Directors effective October 3, 2022. New members include Michelle McKinney Frymire, former CEO of CWT, and Jennifer Mason, a global officer at Marriott International. They replace outgoing directors Debra Smithart-Oglesby and Lauri M. Shanahan, who served since 2012. Chairman Daniel J. Hanrahan praised the outgoing directors for their invaluable contributions, especially during the COVID-19 pandemic, while expressing confidence in the fresh perspectives that Frymire and Mason will bring to drive future growth.

Cedar Fair Entertainment Company (NYSE: FUN) reported record year-to-date preliminary net revenues of $1.37 billion through September 5, 2022, driven by in-park per capita spending averaging $61.11 and out-of-park revenues of $163 million. Average daily attendance rose 5% year over year, totaling 20.5 million guests. For the five-week period ending September 5, revenues reached $343 million, marking a 27% increase compared to the same period in 2019. The company anticipates strong demand for its Halloween celebrations and season pass sales for 2023.

Cedar Fair, L.P. (NYSE: FUN) has made its 2021 Schedule K-3 forms available online for unitholders needing international tax reporting information. This is particularly relevant for foreign unitholders and others seeking foreign tax credits. The forms can be accessed via Cedar Fair’s website. For further assistance, unitholders can contact the Tax Package Support Team during business hours. Cedar Fair is a leading regional amusement park operator, managing 13 properties across the U.S. and Canada, focusing on delivering enjoyable experiences.

Cedar Fair Entertainment Company (NYSE: FUN) has announced exciting 2023 plans for its amusement parks, focusing on new attractions, themed areas, and seasonal events. Capital investments will reach approximately $200 million, the largest ever for the company. Highlights include the 50th anniversary of Worlds of Fun and Carowinds, and the introduction of unique rides like Tundra Twister at Canada's Wonderland and the revamped Zambezi Zinger. The parks aim to enhance guest experiences with improved dining options and a full calendar of events, including the return of popular celebrations.

Cedar Fair reported a record 3.2 million season passes sold for 2022, supporting a robust outlook. For Q2 2022, net revenues reached $509 million, up $285 million from Q2 2021. Net income climbed to $51 million, a $110 million increase from the previous year. Adjusted EBITDA rose to $171 million, reflecting strong operational performance. The company reinstated a $0.30 per unit distribution and authorized a $250 million unit repurchase program, reflecting confidence in future growth. However, attendance for Q2 2022 fell by 8% compared to 2019, highlighting ongoing recovery challenges.

Cedar Fair Entertainment Company (NYSE: FUN) has announced a cash distribution of $0.30 per limited partner unit for Q3 2022, payable on September 15, 2022, to unitholders of record as of August 31, 2022. Additionally, the Board authorized a $250 million unit repurchase program, stating that this strategy reflects confidence in the company's financial stability and growth prospects. The company aims to maintain a strong balance sheet while returning capital to unitholders, signaling a positive outlook for Cedar Fair moving forward.