New Attractions: Snoopy's Racing Railway: Guests can join Snoopy as he races to deliver root beer and pizza to Camp Snoopy's Mess Hall, where Woodstock and his yellow bird buddies are causing quite a ruckus. This family-friendly steel launch coaster accelerates from 0 to 31 mph in seconds, providing an exhilarating adventure for all ages. Riders will experience exciting dips and wild turns, ensuring the delivery arrives safely and on time. Riders get double the fun as they race through the course twice. Cha ...

Rapterra, inspired by the powerful Jungle Hawk, offers riders the sensation of flight. The adventure begins with a powerful launch, accelerating passengers to 65 miles per hour in just four seconds before ascending to its zenith over the Jungle X-Pedition midway. The ride then plummets into a dive loop, and navigates a series of thrilling aerial maneuvers, including an S-turn, a wing slide, a flat spin, an airtime hill, and a 360-degree raptor roll. The 89-second ride totals three inversions before a smooth ...

Six Flags Entertainment NYSE: SIX announced last week the successful completion of its merger with Cedar Fair NYSE: FUN. The merger of these two firms in the consumer discretionary sector creates one of the largest theme park operators in North America. It will compete with firms such as the Walt Disney Company NYSE: DIS and Universal Studios. Going forward, the combined entity will operate under the name Six Flags Entertainment. Shares will trade on the New York Stock Exchange under the ticker symbol FUN. ...

The merger, which was completed Monday, puts the estimated value of the company at $8 billion and "brings together the strengths of both companies, combining Cedar Fair's reputation for delivering exceptional guest experiences with Six Flags' innovative ride and attraction designs," according to a statement from Six Flags Entertainment Corporation. Cedar Fair, prior to the merger, said it operated 11 regional amusement parks, four water parks and two sports destinations. Those included Cedar Point in Sandus ...

Cedar Fair, L.P. (FUN) reported $101.62 million in revenue for the quarter ended March 2024, representing a year-over-year increase of 20.2%. EPS of -$2.47 for the same period compares to -$2.61 a year ago.The reported revenue represents a surprise of +10.49% over the Zacks Consensus Estimate of $91.97 million. With the consensus EPS estimate being -$2.40, the EPS surprise was -2.92%.While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to W ...

Financial Data and Key Metrics - Q1 2024 net revenues increased to $102 million, up from $85 million in Q1 2023, driven by a 290,000 visit increase in attendance and a $4 million increase in out-of-park revenues [118] - In-park per capita spending decreased by 6% or $3.94, partially offsetting the revenue growth [118] - Operating costs and expenses totaled $215 million, up $25 million compared to Q1 2023, with $15 million attributed to SG&A expenses related to the proposed merger with Six Flags [30] - Excluding merger-related costs, operating costs and expenses were flat year-over-year despite a 125,000 increase in guest visits [124] - Deferred revenue balance at the end of Q1 2024 was $233 million, up 10% compared to the same period last year, driven by strong season pass sales [112] Business Line Data and Key Metrics - Season pass sales increased by 8% or $15 million, driven by a 17% increase in units sold (270,000 units), partially offset by an 8% decrease in average season pass price [9] - Sales of other all-season products increased by $13 million or 27%, reflecting higher unit sales and average pricing [9] - Knott's Berry Farm improved EBITDA margins by more than 200 basis points in Q1 2024, driven by higher demand and tight management of variable costs [21] - The company introduced next-gen mobile apps with features like Fast Lane wait times and improved park mapping, enhancing the guest experience [34] Market Data and Key Metrics - Attendance in Q1 2024 increased by 10% or 125,000 visits compared to the same period last year, despite 62 fewer operating days [35] - Out-of-park revenues increased by 8% or $2 million, driven by the extra calendar week and improved performance of the Knott's Hotel [30] - The company strategically reduced operating days at seasonal parks like Carowinds, Kings Dominion, and California's Great America to eliminate lower-value, higher-risk days [20] Company Strategy and Industry Competition - The company is focused on improving margins by increasing demand and driving operational efficiencies, particularly around variable costs like seasonal labor [5] - Investments in digital technology aim to enhance the guest experience, drive revenue growth, and improve operational efficiencies [4] - The company is deploying next-gen 6G-enabled WiFi coverage at its parks, with plans to expand this technology to six major parks by the end of 2024 [34] - The proposed merger with Six Flags is expected to close before the end of Q2 2024, with both companies working constructively with the DOJ on the review process [116] Management Commentary on Operating Environment and Future Outlook - Management remains optimistic about consumer health and the strength of core markets, citing record performance in the second half of 2023 and strong momentum in 2024 [32] - The company is focused on driving higher attendance and activating cost-saving measures, particularly around labor, which represents more than half of the overall cost structure [31] - Management is confident in the long-term growth potential of the business, driven by strong season pass sales, operational efficiencies, and a robust capital program [33] Other Important Information - The company spent $57 million on capital investments in Q1 2024, in line with full-year guidance of $210 million to $220 million [36] - The company fully redeemed its 2025 notes using proceeds from a new $1 billion term loan and secured a new $300 million revolving credit facility [21] - Net debt at the end of Q1 2024 totaled $2.4 billion, with total liquidity of $157 million, including $35 million in cash and $122 million in available borrowings [121] Q&A Session Summary Question: Cost growth and inflationary pressures [123] - Management acknowledged inflationary pressures but noted that the outlook for 2024 is better than in previous years, with a focus on managing variable costs like seasonal labor [11] - The company has successfully optimized seasonal labor rates and staffing levels, achieving healthier staffing levels heading into the 2024 summer season [23] Question: Impact of Easter timing on Q1 results [52] - The timing of Easter had minimal impact on Q1 results, as Knott's Berry Farm, the only park with substantial Q1 operations, was not significantly affected [14] Question: Season pass pricing strategy at Knott's Berry Farm [24] - Management explained that the decision to lower season pass pricing at Knott's was a strategic move to drive demand in a competitive Southern California market [25] - Despite the price adjustment, season pass sales have continued to grow, with unit sales and pricing trending up mid-single digits in recent weeks [26] Question: Group demand trends [44] - The company is seeing strong demand in both youth and corporate group channels, with youth group visits trending back to or surpassing 2019 levels [56] - Investments in CRM systems and technology are supporting the growth in group sales [82] Question: Operating expense trends in Q1 [67] - Management clarified that operating expenses per day can be misleading in Q1 due to the small number of operating days and the concentration of operations at Knott's Berry Farm [16] - Excluding merger-related costs, operating expenses were flat year-over-year despite higher attendance [71] Question: Digital transformation and app revenue opportunities [76] - The company views its mobile app as a key tool for enhancing guest experience and driving incremental revenue, with early success in push offers and loyalty programs [96] - The app is part of a broader digital transformation strategy aimed at improving operational efficiencies and guest engagement [99] Question: Minimum wage increases and labor costs [85] - Management is confident in its ability to manage labor costs despite minimum wage increases, citing tools like dynamic pricing and operational efficiencies [85] - The company has successfully managed seasonal labor rates and hours, achieving cost efficiencies while maintaining staffing levels [86] Question: Capital expenditure allocation and ROI [103] - Approximately 60-70% of the $210 million to $220 million capital expenditure budget is allocated to ROI-driving projects like new rides and digital initiatives [103] - Marquee attractions like Top Thrill 2 and Iron Menace have historically generated cash-on-cash returns well above 20% [104]

(Mark One) Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2024 For the transition period from to . Commission File Number: 1-9444 CEDAR FAIR, L.P. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) Delaware 34-1560655 (I.R.S. Employer Identification No.) One Ce ...

Exhibit 99.1 NEWS RELEASE CEDAR FAIR REPORTS FIRST QUARTER 2024 RESULTS SANDUSKY, Ohio (May 9, 2024) -- Cedar Fair Entertainment Company (NYSE: FUN), a leader in regional amusement parks, water parks and immersive entertainment, today announced financial results for its first quarter ended March 31, 2024, which included a planned extra week compared to the first quarter of 2023 due to a fiscal calendar shift. To provide more informative comparisons, results for the first quarter of 2024 are also compared on ...

Wall Street analysts forecast that Cedar Fair, L.P. (FUN) will report quarterly loss of $2.40 per share in its upcoming release, pointing to a year-over-year increase of 8.1%. It is anticipated that revenues will amount to $91.97 million, exhibiting an increase of 8.8% compared to the year-ago quarter.Over the past 30 days, the consensus EPS estimate for the quarter has been adjusted downward by 6.7% to its current level. This demonstrates the covering analysts' collective reassessment of their initial proj ...

SANDUSKY, Ohio, April 30, 2024 /PRNewswire/ -- Top Thrill 2, the world's tallest and fastest triple-launch strata coaster, will open to the public on Cedar Point's opening day, Saturday, May 4. The "strata" coaster, known as any roller coaster eclipsing a height of 400 feet, was first pioneered by Cedar Point in 2003. The new and reimagined Top Thrill 2 dominates the park's skyline with not one, but two 420-foot-tall track towers, putting riders in the driver's seat for one of the greatest races of all time ...