cfc Posted November 5, 2009 Share Posted November 5, 2009 Cedar Fair Entertainment held a conference call to discuss third-quarter earnings on November 3. Here's a link to the transcript: http://seekingalpha.com/article/170967-cedar-fair-entertainment-company-q3-2009-earnings-call-transcript?page=1. I'm not a "financials" type of guy, but here are a few highlights: 1. According to Richard Kinzel (chairman, president, and CEO), CF expected to take a hit from the "worst economy in decades," calling their performance "slightly better" than their "industry peers," but still "disappointing." 2. The CF parks entertained 18.8 million guests through the end of the third quarter--6 percent less than the same period last year. 3. In addition to the weak economy, Mr. Kinzel cited "consistely poor weather" as a factor in the decreased attendance. 4. The parks have managed to reduce operating costs by 5 percent over last year. The transcript is a rather hefty one by online standards--10 pages. Link to comment Share on other sites More sharing options...
slither37 Posted November 5, 2009 Share Posted November 5, 2009 Concur on the weather comment at least here in Ohio. The weather for the Halloween events at the open parks in Ohio has been terrible, very cold and/or rain on the weekends. Usually some of CP's busiest times. Link to comment Share on other sites More sharing options...
Cavs Fan Posted November 5, 2009 Share Posted November 5, 2009 ^ Well since it is October and we're kind of in the north, of course it is going to be cold. It is going to be windy too because it IS a peninsula. I went a few times during halloweekends and the only times I got wet were in Happy Jack's Toy Factory. And what is all of that stuff about typical Cedar Point weather. It is usually beautiful here. We also have four seasons. Link to comment Share on other sites More sharing options...
larrygator Posted November 5, 2009 Share Posted November 5, 2009 Also, it has been sepculated that Cedar Fair will stop issuing a dividend to shareholders in 2010. The stock on down 20% at points yesterday. Cedar Fair was very proud of their ability to increase their dividend year over year until last year. Many say Cedar Fair is the new Six Flags with all it's debt, but at least Cedar Fair has the luxury of using the suspended dividends to pay down debt. Certainly not positive news, but not as seriuos as Six Flags problems. Link to comment Share on other sites More sharing options...
wiyoh1984 Posted November 5, 2009 Share Posted November 5, 2009 http://www.my13abc.com/wap/news/text.jsp?sid=1005&nid=2251504&cid=284&scid=-1&title=Local%20News&ith=16 So this explains part of the reason why my shares in Cedar Fair have tanked.....GREAT! Link to comment Share on other sites More sharing options...
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