Cedar Fair LP Earnings: Here’s Why Shares are Down Now
Cedar Fair LP (NYSE:FUN) had a loss and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company. Shares are down 0.42%.
Cedar Fair LP Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased to $-0.19 in the quarter versus EPS of $0.02 in the year-earlier quarter.
Revenue: Decreased 10.8% to $129.2 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Cedar Fair LP reported adjusted EPS loss of $-0.19 per share. By that measure, the company missed the mean analyst estimate of $-0.08. It missed the average revenue estimate of $130.6 million.
Quoting Management:Commenting on the Company’s year-end results for 2012, Matt Ouimet, Cedar Fair’s president and chief executive officer said, “I am pleased to report a third consecutive year of both record revenues and Adjusted EBITDA and we expect this trend to continue into 2013. Our strong current year results are attributable to solid increases in average in-park guest per capita spending across the majority of our parks, along with near-record attendance levels.”
Key Stats (on next page)…