Six Flags Entertainment Corporation Stock Price, News & Analysis

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.

Cedar Fair Entertainment Company (NYSE: FUN) plans to release its 2022 second-quarter financial results on August 3, 2022, before market hours. Following the announcement, a conference call will be held at 10 a.m. EDT to discuss the results and the company's future outlook. Key executives, including Richard Zimmerman, Brian Witherow, and Michael Russell, will participate. The call can be accessed via a live audio webcast on Cedar Fair's investor site, with a recorded version available post-call.

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.