- Cedar Fair L.P. (NYSE:FUN) reported first-quarter FY22 revenues of $98.8 million, beating the consensus of $76.93 million.
- During 1Q22, the parks had 130 operating days compared to zero in 1Q21 as the pandemic impacted operations.
- In-park per capita spending was $58.86 versus $46.13 in 1Q19. Out-of-park revenues for the quarter totaled $16 million versus $10 million last year.
- Attendance for 1Q22 totaled 1.5 million guests versus 1.2 million guests in 1Q19.
- The operating loss for the quarter was $(84) million compared to a loss of $(92) million last year. Adjusted EBITDA loss narrowed to $(68) million.
- The company held $50 million in cash and equivalents as of March 27, 2022.
- Loss per unit of $(1.56) beat the analyst consensus of $(1.92).
- Cedar Fair expects all parks within its portfolio to be opened by the end of May.
- Cedar Fair CEO Richard A. Zimmerman stated, "We expect compelling revenue growth in 2022 as we build on our previously announced initiatives to drive strong attendance and in-park purchases, price into demand, and create a more flexible, resilient Cedar Fair."
- Price Action: FUN shares are trading higher by 1.39% at $53.52 on the last check Wednesday.
- Photo Via Wikimedia Commons
