Spellbinding Stock: Cedar Fair, L.P. (NYSE: FUN)

On 31 Dec 2019, Cedar Fair, L.P. (NYSE: FUN) changed -0.41% to recent value of $55.44. The stock transacted 202956 shares during most recent day however it has an average volume of 422.07K shares. It spotted trading -14.52% off 52-week high price. On the other end, the stock has been noted 21.63% away from the low price over the last 52-weeks.

Cedar Fair Entertainment Company (FUN) recently reported results for the third quarter ended September 29, 2019, and record year-to-date performance trends through November 3, 2019.

Highlights

Net revenues for the third quarter ended September 29, 2019, totaled a record $715M, a raise of 8%, or $51M, contrast with the third quarter of 2018. The increase in net revenues reflects increases in attendance, in-park per capita spending and out-of-park revenues, all of which were up meaningfully in the quarter.

On a same-park/same-week basis, net revenues in the third quarter were up 7%, or $43M.

Net income for the 2019 third quarter reduced $23M to $190M and Adjusted EBITDA1 increased $17M to $355M, contrast with the third quarter 2018. On a same-park/same-week basis, net income in the period reduced 13%, or $25M, and Adjusted EBITDA2 increased 5%, or $17M.

Year-to-date preliminary net revenues through November 3, 2019, totaled a record $1.37B, a raise of $113M, or 9%, when contrast with the same period ended November 4, 2018. On a same-park basis, preliminary net revenues totaled a record $1.33B, up $71M or 6%.

Third-Quarter Results

Net revenues for the 2019 third quarter increased $51M, or 8%, to $715M from $664M in the third quarter last year. The increase in revenues reflects a 7%, or 818,000-visit, increase in attendance, a 1%, or $0.47, increase in in-park per capita spending, and a 9%, or $6M, increase in out-of-park revenues. On a same-park/same-week basis, net revenues in the third quarter of 2019 were up 7%, or $43M, on a 732,000-visit, or 6%, increase in attendance, a less than 1% increase in in-park per capita spending, and a 9%, or $6M, increase in out-of-park revenues.

Operating income for the 2019 third quarter totaled $275M, up $17M, or 6%, contrast with $259M for the third quarter last year. The increase in operating income was the result of the 8% increase in net revenues noted above, offset by a 13%, or $42M, increase in operating costs and expenses contrast with the third quarter of 2018. On a same-park/same-week basis, and not including $6M of acquisition-related costs, operating costs and expenses in the period were up $28M, or 8%, with the increase Because of incremental variable operating costs, in particular cost of goods sold and transaction fees, associated with the record attendance levels, higher labor costs driven by wage-rate increases and incremental operating costs associated with the Company’s new facilities and immersive events.

FUN has a gross margin of 91.40% and an operating margin of 22.60% while its profit margin remained 10.00% for the last 12 months. Its earnings per share (EPS) expected to touch remained -27.20% for this year while earning per share for the next 5-years is expected to reach at 6.00%.  The company has 56.05M of outstanding shares and 55.8M shares were floated in the market. According to the most recent quarter its current ratio was 1.2 that represents company’s ability to meet its current financial obligations. The price moved ahead of 0.44% from the mean of 20 days, -0.63% from mean of 50 days SMA and performed 3.44% from mean of 200 days price. Company’s performance for the week was -0.36%, -0.72% for month and YTD performance remained 17.21%.

 

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