Cedar Fair Q2 Earnings Miss Estimates As Low Attendance Affects Revenue
Portfolio Pulse from Shivani Kumaresan
Cedar Fair LP (NYSE:FUN) reported a 2% YoY decline in Q2 FY23 sales to $500.98 million, missing the analyst consensus of $512.74 million. The decrease in net revenues was due to a 6% decrease in attendance. In-park per capita spending increased by 3% over 2Q22. The company held $49.2 million in cash and equivalents as of June 25, 2023. Earnings per unit of $1.04 missed the analyst consensus of $1.10. The Board authorized additional unit repurchases of up to $250 million.

August 04, 2023 | 12:50 pm
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NEGATIVE IMPACT
Cedar Fair's Q2 FY23 sales and earnings per unit missed analyst estimates, which could negatively impact the stock price.
Cedar Fair's Q2 FY23 sales and earnings per unit missed analyst estimates, which could lead to a decrease in investor confidence and a potential drop in the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100