Roller Coaster Revival: Cedar Fair's Q1 Sales Soar, Despite Hurdles, Eyes Set on Thrilling Season Ahead
Roller Coaster Revival: Cedar Fair's Q1 Sales Soar, Despite Hurdles, Eyes Set on Thrilling Season Ahead
Cedar Fair, L.P. (NYSE:FUN) shares are trading higher after it reported first-quarter FY24 sales growth of 20% Y/Y to $101.6 million, beating the analyst consensus of $92.4 million.
Cedar Fair, L.P.（紐約證券交易所代碼：FUN）公佈的24財年第一季度銷售額同比增長20％至1.016億美元，超過了分析師共識的9,240萬美元，股價走高。
The company recorded a net loss of $(133) million compared with a net loss of $(135) million a year ago quarter, including $10 million of costs related to the proposed merger with Six Flags Entertainment Corp (NYSE:SIX).
該公司的淨虧損爲1.33億美元，而去年同期的淨虧損爲1.35億美元，其中包括與六旗娛樂公司（紐約證券交易所代碼：SIX）擬議合併相關的1000萬美元成本。
Attendance totaled 1.3 million guests, up 27% Y/Y, primarily due to higher season pass sales and improved weather at Knott's Berry Farm, as well as the inclusion of the extra calendar week in the first quarter of FY24.
出席人數共計130萬人，同比增長27％，這主要是由於季票銷量增加和Knott's Berry Farm天氣改善，以及在24財年第一季度增加了日曆周。
In-park per capita spending was $60.53, down by 6% Y/Y. The decrease was primarily due to a planned reduction in season pass pricing and a higher mix of season pass visitation at Knott's Berry Farm. Out-of-park revenues were $23 million, up 21% Y/Y, in the quarter.
園內人均支出爲60.53美元，同比下降6％。下降的主要原因是計劃降低季票價格，以及諾特漿果農場的季票訪問量增加。本季度園外收入爲2300萬美元，同比增長21％。
During the quarter, the parks had 117 operating days compared to 161 prior year quarter.
在本季度，公園的運營天數爲117天，而去年同期爲161天。
Adjusted EBITDA was a loss of $(97) million versus $(101) million a year ago. As of March 31, 2024, cash and cash equivalents of $35 million.
調整後的息稅折舊攤銷前利潤虧損9,700萬美元，去年同期虧損1.01億美元。截至2024年3月31日，現金及現金等價物爲3500萬美元。
Distribution: The board approved a quarterly cash distribution of $0.30 per LP unit, payable on June 19 to unitholders of record on June 5.
分配：董事會批准了每LP單位0.30美元的季度現金分配，將於6月19日支付給6月5日登記在冊的單位持有人。
Cedar Fair President and CEO Richard Zimmerman said, "Our highly marketable capital investment program has created widespread pre-season excitement, which has helped drive up season pass sales nearly 250,000 units through the first four months of the year. We are optimistic that these positive trends, combined with tailwinds in other demand channels such as group bookings and reservations at our resort properties, position us to deliver another outstanding year for Cedar Fair in 2024."
Cedar Fair總裁兼首席執行官理查德·齊默爾曼表示：“我們高度適銷的資本投資計劃在季前賽中引起了廣泛的激動，這使今年前四個月的季票銷量增長了近25萬套。我們樂觀地認爲，這些積極的趨勢，加上度假村物業的團體預訂和預訂等其他需求渠道的不利因素，使我們有望在2024年爲Cedar Fair再創輝煌的一年。”
Commenting on the proposed merger with Six Flags, Zimmerman concluded, "Both Cedar Fair and Six Flags continue to work constructively with the Department of Justice ("DOJ") in its review of the merger, having complied fully with the DOJ's Second Request received in January."
齊默爾曼在評論與Six Flags的擬議合併時得出結論：“Cedar Fair和Six Flags都完全遵守了司法部在1月份收到的第二份請求，繼續與司法部（“司法部”）進行建設性合作，對合並進行審查。”
Price Action: FUN shares are up 6.97% at $43.69 at the last check Thursday.
價格走勢：在週四的最後一次檢查中，FUN股價上漲6.97％，至43.69美元。
Photo via Wikimedia Commons
照片來自維基共享資源