Six Flags Entertainment Corporation Stock Price, News & Analysis

Cedar Fair Entertainment Company (NYSE: FUN) reported record preliminary net revenues of $704 million for the year-to-date period through July 4, 2022, a 20% increase from the same fiscal period in 2019. Key drivers included a 26% rise in in-park per capita spending, reaching $59.52, and a 20% increase in out-of-park revenues. Notably, sales of 2022 season passes surpassed three million units, marking a 31% growth compared to 2019. The company's performance reflects strong consumer demand and effective strategic investments in enhancing guest experiences.

Cedar Fair (NYSE: FUN) has announced the sale of its California's Great America amusement park land to Prologis (NYSE: PLD) for approximately $310 million, retaining a long-term lease for continued operation. This transaction is part of a strategic review aimed at maximizing asset value, allowing Cedar Fair to focus on reducing debt and reinvesting in high-return projects. The company aims to reach a $2 billion debt target and plans to reinstate quarterly unitholder distributions by Q3 2022, pending board approval.

Cedar Fair (NYSE: FUN) reported a 21% increase in year-to-date net revenues, totaling $343 million, through May 30, 2022, compared to the same period in 2019. Factors contributing to this growth include a 28% rise in per capita spending and a 13% increase in out-of-park revenues, despite a reduction in attendance by 210,000 visitors due to fewer operating days. The company is optimistic about future demand, noting stronger sales in season passes and resort bookings. They plan to provide another performance update by July 4, 2022.

Cedar Fair Entertainment Company (NYSE: FUN) announced the reelection of Louis Carr, D. Scott Olivet, and Carlos A. Ruisanchez to its Board of Directors, each serving three-year terms until 2025. The company’s unitholders also confirmed Deloitte & Touche LLP as its independent registered public accounting firm and approved an advisory vote on executive officer compensation. CEO Richard A. Zimmerman acknowledged the board members' insightful contributions that have aided Cedar Fair's recovery since the pandemic.

Cedar Fair Entertainment Company (NYSE: FUN) reported strong preliminary results for Q1 2022, achieving record net revenues of $193 million, a 33% increase from Q1 2019. With all parks opening fully without restrictions for the first time since 2019, the company anticipates continued growth. Season pass sales surged by $59 million compared to 2019 levels. Although the company posted a net loss of $89 million, this was an improvement from last year's loss of $110 million. Cedar Fair aims to reinstate quarterly distributions to unitholders by Q3 2022, bolstered by strategic initiatives and healthy demand.

Cedar Fair Entertainment Company (NYSE: FUN) announced it will release its 2022 first-quarter financial results on May 4, 2022, prior to market opening. Following this, management will hold a conference call at 10 a.m. EDT to discuss the results and the company's outlook. Key executives including President and CEO Richard Zimmerman and CFO Brian Witherow will participate. The call will be accessible via a live audio webcast on Cedar Fair's investor site, with recorded access available post-call.

Cedar Fair Entertainment Company (NYSE: FUN) has opted out of the covenant modification period in its amended credit agreement, which enables the firm to reinstate quarterly cash distributions to unitholders by Q3 2022. This decision reflects the company's robust performance in late 2021 and positive season pass sales, signaling a strong recovery post-COVID-19. Cedar Fair's President, Richard A. Zimmerman, highlighted the company's resilience and growth potential in the entertainment sector as it approaches the upcoming season.

Cedar Fair Entertainment Company (NYSE: FUN) announced that its 2021 tax packages, including Schedule K-1, are now available online at its investor relations website. The mailing of these tax packages is expected to be completed by March 11, 2022. Unitholders can access the tax packages through the company's website and obtain support by calling the K-1 Tax Package Support Team on weekdays from 9 a.m. to 6 p.m. ET. Cedar Fair operates 13 amusement and water parks, aiming to deliver fun and memorable experiences.

Cedar Fair Entertainment Company (NYSE: FUN) reported its 2021 financial results, highlighting a net revenue of $1.34 billion despite a 70% attendance rate compared to 2019 levels. In-park spending reached a record $62.03 per guest, marking a 28% increase from 2019. The company faced a net loss of $49 million and Adjusted EBITDA of $325 million, a significant recovery from the previous year's losses. Management expressed confidence in reinstating a quarterly cash distribution by Q3 2022, driven by strong season pass sales and strategic initiatives aimed at enhancing guest experiences.