Cedar Fair Corporate Development Discussion Thread (FUN)

P. 143: CF releases 2018 mid-year figures
Users viewing this topic: No registered users and 1 guest
Discuss theme parks, roller coasters, and mules!
Full Fledged Donkey Enthusiast!
User avatar
 
Posts: 107
Joined: 17 Sep 2014
Location: Maryland
Gender: Male

Re: Cedar Fair Development Discussion Thread

Postby Rougarou » Tue Jan 02, 2018 5:38 pm

^…Your WRITE Ha Ha

Counts I305 as 32 credits...
User avatar
 
Posts: 5867
Joined: 22 Apr 2006
Location: Orlando, FL
Gender: Male
Age: 27

Re: Cedar Fair Development Discussion Thread

Postby A.J. » Tue Jan 02, 2018 7:10 pm

Seriously though, Magnum XL-200 is a capacity monster. You'd be asking them to cut the total capacity from 108 people down to 48, as Magnum runs 3 trains, 6 cars, 6 people per car vs Titan Max's 2 trains, 6 cars, and 4 people per car. You literally don't have enough cars to fully replace all of the trains on any of the other Arrow hyper coasters, and that includes Phantom's Revenge.
Image
Data entry nut for the official TPR coaster poll! https://coasterpoll.com/
Check out my theme park 3D visualization portfolio!
The opinions that I post on this forum do not necessarily represent those of the company I work for.

I know quite a lot about Donkeys!
User avatar
 
Posts: 54
Joined: 08 Oct 2016
Gender: None specified

Re: Cedar Fair Development Discussion Thread

Postby A.T.I » Wed Jan 03, 2018 1:28 pm

Rougarou wrote:Cedar Fair if your out there buy these Titan Max trains fron the now closed Space World for Magnum
Please

Nah, they had better be going on the Big One at BPB!
ATI Stands for Amusement Thrills International! =) =) =)

We were born to fly...

Why do I still have a donkey title???
User avatar
 
Posts: 3041
Joined: 08 Jul 2011
Location: Gurnee, Illinois
Gender: Male
Age: 30

Re: Cedar Fair Development Discussion Thread

Postby Rollercoaster Rider » Tue Jan 16, 2018 4:10 am

A.J. wrote:Seriously though, Magnum XL-200 is a capacity monster. You'd be asking them to cut the total capacity from 108 people down to 48, as Magnum runs 3 trains, 6 cars, 6 people per car vs Titan Max's 2 trains, 6 cars, and 4 people per car. You literally don't have enough cars to fully replace all of the trains on any of the other Arrow hyper coasters, and that includes Phantom's Revenge.


Bummer, I love Phantom's Revenge trains/restraints.
Proud Member of the 300 Coaster Club. Joined June 16, 2012
Proud Member of the 400 Coaster Club. Joined August 17, 2013
Proud Member of the 500 Coaster Club. Joined January 30, 2015
Proud Member of the 600 Coaster Club, Joined April 21, 2017

Why do I still have a donkey title???
User avatar
 
Posts: 13375
Joined: 16 Feb 2005
Location: The bar
Gender: Male
Age: 30

Cedar Fair revenues down through July 4th

Postby coasterbill » Wed Jul 11, 2018 7:04 am

As an aside... I used the advanced search feature looking for a Cedar Fair Corporate Discussion thread and somehow found nothing. I feel like it has to exist like it does for SIX and SEAS, so if it does, sorry about that. Edit: Hey look at that... sorry. :lol:

Anyway...

Cedar Fair Reports Revenues Through July 4th Holiday Weekend

SANDUSKY, Ohio, July 11, 2018 /PRNewswire/ -- Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement parks, water parks and immersive entertainment, today reported preliminary net revenues through July 8, 2018, of approximately $563 million, on 11.1 million guest visits, average in-park per capita spending of $45.87 and out-of-park revenues of $70 million. This period represents approximately 40% of the Company's total operating days for 2018.

When compared with the same period a year ago, net revenues were down 2%, or $10 million, the result of a 3%, or 314,000-visit, decrease in attendance. This was partially offset by a 3%, or $2 million, increase in out-of-park revenues, including resort accommodations, and a slight increase in average in-park per capita spending when compared with the same period last year.

Cedar Fair's President and CEO Richard Zimmerman said, "We came into this year with a clear focus on enhancing the guest experience and a business plan designed to drive additional attendance, especially in the second half of the year which includes the peak vacation months of July and August and the expansion of our WinterFest events in November and December. Although early-season attendance at our seasonal parks through this past weekend has not met our expectations, we are encouraged by the positive guest response to our new rides and attractions, in particular our new coasters Steel Vengeance at Cedar Point and Hang Time at Knott's Berry Farm. We are also pleased with the growth of in-park guest spending where we are seeing year-over-year increases in food, merchandise and extra charge attractions."

Zimmerman noted that the strong attendance and revenue trends that Knott's Berry Farm produced in the first quarter have continued through the July 4th holiday weekend. He also added that Cedar Fair's out-of-park revenues have continued to perform well. "Demand within our resort properties has been very strong, particularly at Cedar Point, where we recently opened a new 158-room tower at the historic Hotel Breakers located on the park's mile-long beach," he said. "We believe this demand will continue as advanced reservations at our resort accommodations for the second half of the year are up when compared with the same period in 2017. The expansion of our resort facilities will be a key driver of increased revenues over the long-term as we open additional hotels adjacent to Carowinds in Charlotte, North Carolina, in late 2019, and Canada's Wonderland, near Toronto, in 2020."

Virtually all of Cedar Fair's revenues from its seasonal amusement parks and water parks are realized during a 130- to 140-day operating period beginning in early May, with the major portion concentrated in the peak vacation months of July and August. In addition, fourth-quarter revenues have grown in recent years with the introduction and expansion of popular events and activities such as Halloween-related attractions and WinterFest celebrations. Only Knott's Berry Farm is open year-round and it operates at its highest level of attendance in the fiscal third quarter.

"We believe the positive guest response to our new attractions and offerings, as emphasized by this year's high guest satisfaction ratings, combined with the continued growth in advance purchases and lengthened seasons at many of our parks, will provide the momentum needed to increase attendance and drive additional guest spending in the second half of the year," added Zimmerman. He also noted that the Company anticipates 2018 full-year net revenues to be in the range of $1.34 billion and $1.38 billion, and full-year Adjusted EBITDA1 to be in the range of $475 million to $495 million.

"Although we've seen some early-season margin compression as a result of the attendance shortfalls and previously discussed labor cost pressure, our long-term strategy continues to produce a significant amount of free cash flow. As such, we remain committed to a steady 4% increase in our annual distribution rate going forward," concluded Zimmerman.

The Company will provide additional information regarding net revenues, operating costs and cash flows when it announces second-quarter results on Wednesday, August 1, 2018...

- PR Newswire

====================

So yeah, this is bad. These are YTD numbers, not Q2 numbers so you can't blame an Easter shift or anything like that (though it's not as big of a factor for Cedar Fair as it is for Disney, Universal and Busch/SeaWorld anyway given the seasonal nature of most of their parks). Obviously Q3 is the one to watch, but this period represents approximately 40% of the Company's total operating days for 2018. They spent a ton of money on new attractions this year, so these numbers are pretty surprising.

As a result, their stock prices are tanking hard, hitting a one year low this morning...
notfun.png
Down 8% as of 10AM... which is ridiculous


I've got to admit, I have very few theories on what's going on here and it doesn't seem like the chain does either. The economy is good... gas prices are up a tiny bit but it's not all that significant. I don't know, but thee numbers are very unexpected (as evidenced by the reaction on Wall Street).

I'm sure people will happily inject politics and/or everything they don't like about the parks into the discussion (ie: "It's because they took the chicken tender and gravy wrap off the dining plan" or "It's because Valravn is developing a rattle", but it's actually really hard to come up with anything reasonable to explain this).

Site Admin
User avatar
 
Posts: 47665
Joined: 01 Feb 2005
Location: Orlando, FL
Gender: Male

Re: Cedar Fair revenues down through July 4th

Postby robbalvey » Wed Jul 11, 2018 7:09 am

coasterbill wrote:I used the advanced search feature looking for a Cedar Fair Corporate Discussion thread and somehow found nothing.

I added the word "Corporate" to this thread title just now to help with future searches.
Last edited by robbalvey on Wed Jul 11, 2018 7:09 am.

Why do I still have a donkey title???
User avatar
 
Posts: 13375
Joined: 16 Feb 2005
Location: The bar
Gender: Male
Age: 30

Re: Cedar Fair Corporate Development Discussion Thread

Postby coasterbill » Wed Jul 11, 2018 7:13 am

Thanks. Sorry about that, I was 99.9% sure it existed and that I had probably posted in it but I was having no luck finding it. :lol:

Why do I still have a donkey title???
User avatar
 
Posts: 6315
Joined: 02 Aug 2012
Location: These Ozarks Hills
Gender: Male
Age: 33

Re: Cedar Fair revenues down through July 4th

Postby ytterbiumanalyst » Wed Jul 11, 2018 7:15 am

coasterbill wrote:I'm sure people will happily inject politics and/or everything they don't like about the parks

Okay, well in that case, it's Chester A. Arthur's fault they don't have enough Intamins.
Image

Did my donkey title just change???
 
Posts: 97
Joined: 01 Sep 2017
Gender: None specified

Re: Cedar Fair Corporate Development Discussion Thread

Postby Sledgehammer_77 » Wed Jul 11, 2018 7:17 am

I'm just throwing this out there but a combination of a lower Canadian dollar plus a volatile American president and his followers might be creating a "travel everywhere but the US" mentality.
I know that KI and CP would get a fair amount of Canadians.... not sure about the parks further south.
1. Steel Vengance 2. Maverick 3. Behemoth 4. Leviathan 5. Millennium Force

Full Fledged Donkey Enthusiast!
User avatar
 
Posts: 105
Joined: 15 Dec 2017
Location: Michigan
Gender: Male

Re: Cedar Fair Corporate Development Discussion Thread

Postby CoasterInk » Wed Jul 11, 2018 7:29 am

Speaking of the stock price falling, Six Flags' stock also dropped quite a bit around the same time that the Cedar Fair's Price dropped... 4:00 to be exact.

PreviousNext

Return to Theme Parks, Roller Coasters, & Donkeys!

Who is online

Users viewing this topic: No registered users and 1 guest

These pages are in no way affiliated with nor endorsed by SeaWorld Parks & Entertainment, Cedar Fair, Legoland, Merlin Entertainment,
Blackstone, Tussaud's Group, Six Flags, Universal Theme Parks, the Walt Disney Company or any other theme park company.

All onride photos and videos on this website were taken with the permission of the park by a professional ride photographer.
For yours  and others safety, please do not attempt to take photos or videos at parks without proper permission.

Disclaimer!  You need a sense of humor to view our site, 
if you don't have a sense of humor, or are easily offended, please turn back now!
Most of the content on this forum is suitable for all ages. HOWEVER!
There may be some content that would be considered rated "PG-13."
Theme Park Review is NOT recommended for ages under 13 years of age.

cron