On the adjusted EBITDA front, for the full year, adjusted EBITDA totaled $528 million compared to $552 million in 2022. The $24 million decrease was primarily attributable to the year-over-year decreases in attendance and net revenues and, to a lesser extent, by the higher advertising, land lease and insurance-related costs in 2023. Now turning to the balance sheet. We ended the year with $65 million in cash on hand, no outstanding borrowings under our revolving credit facility and total net leverage just a ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 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 incor ...

Summary of Cedar Fair and Six Flags Merger Conference Call Industry and Companies Involved - **Industry**: Amusement Park and Entertainment - **Companies**: Cedar Fair, L.P. (NYSE:FUN) and Six Flags Core Points and Arguments 1. **Merger Announcement**: Cedar Fair and Six Flags announced a proposed merger of equals, aiming to create a leading amusement park operator [3][4] 2. **Financial Results Overview**: - Cedar Fair reported a 7% increase in third-quarter adjusted EBITDA to a record $388 million, with a margin increase to 46.1% [7] - Six Flags reported a 16% increase in attendance to 9.3 million guests and an 8% revenue increase to $547 million [14] 3. **Attendance and Revenue Trends**: - Cedar Fair entertained 12.4 million guests in Q3 2023, generating net revenues of $842 million, slightly down from 2022 [7] - Six Flags experienced a decrease in guest spending per capita but saw strong growth in food and beverage sales [15] 4. **Cost Management**: Cedar Fair reduced operating expenses by $22 million, while Six Flags' cash operating and SG&A expenses increased by 20% due to investments in guest experience [8][16] 5. **Future Growth Strategy**: - The merger is expected to unlock annual synergies of $200 million, with $120 million in cost savings and $80 million in incremental EBITDA [22][27] - The combined company will operate 42 amusement and water parks and 9 resort properties, targeting a more diversified experience for guests [30] 6. **Cultural Fit**: Both companies emphasize a guest-obsessed culture, with a focus on enhancing visitor experiences and operational efficiencies [20][21] 7. **Financial Structure**: The new company will be structured as a C Corp, which is expected to unlock more value for shareholders compared to the previous MLP structure [64][66] 8. **Season Pass Strategy**: The merger will enhance the value proposition for season pass holders, allowing for greater access to multiple parks [60][70] Important but Potentially Overlooked Content 1. **Deferred Revenue Growth**: Cedar Fair's deferred revenue increased by 11% to $208 million, indicating strong early sales for 2024 season passes [10] 2. **Weather Impact**: Poor weather conditions negatively affected attendance and revenue for both companies, particularly in the Northeast and Mid-Atlantic regions [13][16] 3. **Integration Planning**: A comprehensive integration plan is a priority to ensure long-term success post-merger [43] 4. **Cash Flow Generation**: The combined company expects to generate nearly $800 million in free cash flow, with a focus on deleveraging and strategic investments [42] 5. **Guest Experience Focus**: The merger aims to create a more engaging and immersive experience for guests, leveraging both companies' strengths [29][40] This summary encapsulates the key points discussed during the conference call regarding the merger between Cedar Fair and Six Flags, highlighting financial performance, strategic goals, and operational synergies.

CopperSteel HoldCo, Inc. ("HoldCo") (C Corp to be listed on NYSE; Ticker Symbol: FUN) Leadership & Governance 5 Transaction Overview (Continued) and receipt of regulatory clearance ▪ No unitholder vote will be required from Cedar Fair's unitholders, as Cedar Fair will own greater than 51% of the combined company 6 Enhancing the Guest Experience More robust operating platform for improved park offerings and more efficient systemwide performance Combined technology platforms and data analytics capabilities to ...

Cedar Fair, L.P. (NYSE:FUN) Q2 2023 Results Conference Call August 3, 2023 10:00 AM ET The new app is being designed to simplify and streamline the guest experience, expedite and expand payment options and minimize wait time beyond the improvements we have already achieved. This is just the latest example of our ongoing investments in technology to improve the guest experience, build loyalty and drive higher attendance and in-park spending. We will begin rolling out the new mobile app in our parks later thi ...

Ricardo Chinchilla There are still two more years on those. So we're not going to -- there isn't a sense of urgency that we have to do something right now. We want to remain opportunistic when the market conditions are right to address those. I would say, as Richard mentioned, the goal continues to be to work leverage down back into that three to four times adjusted EBITDA range. Thank you very much for taking my question. The next question comes from Eric Wold. Richard Zimmerman Our target customer, again, ...

Cedar Fair, L.P. (NYSE:FUN) Q4 2022 Earnings Conference Call February 16, 2023 10:00 AM ET Michael Russell - Corporate Director of Investor Relations Richard Zimmerman - President & Chief Executive Officer Brian Witherow - Executive Vice President & Chief Financial Officer Chris Woronka - Deutsche Bank Steve Wieczynski - Stifel James Hardiman - Citi Ben Chaiken - Credit Suisse Mike Schwartz - Truist Securities Eric Wold - B. Riley Securities Paul Golding - Macquarie Capital Barton Crockett - Rosenblatt Secu ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 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 incor ...

Cedar Fair, L.P. (NYSE:FUN) Q3 2022 Earnings Conference Call November 2, 2022 10:00 AM ET Company Participants Michael Russell - Corporate Director of Investor Relations Richard Zimmerman - President & Chief Executive Officer Brian Witherow - Executive Vice President & Chief Financial Officer Conference Call Participants James Hardiman - Citigroup Steve Wieczynski - Stifel Chris Woronka - Deutsche Bank Mike Swartz - Truist Securities Ben Chaiken - Credit Suisse Eric Wold - B.Riley Securities Barton Crockett ...

Cedar Fair LP (NYSE:FUN) Q2 2022 Earnings Conference Call August 3, 2022 10:00 AM ET Company Participants Michael Russell - Corporate Director, IR Richard Zimmerman - President, CEO & Director Brian Witherow - EVP & CFO Conference Call Participants Steven Wieczynski - Stifel, Nicolaus & Company James Hardiman - Citigroup Benjamin Chaiken - Crédit Suisse Chris Woronka - Deutsche Bank Michael Swartz - Truist Securities Paul Golding - Macquarie Research Barton Crockett - Rosenblatt Securities Operator Good mor ...