Cedar Fair third quarter revenue up 8% over last year

Posted Thursday, November 4, 2004 5:00 PM | Contributed by Jeff

Cedar Fair's third quarter net revenue was up 3% over last year. Excluding the acquisition of Geauga Lake, revenue was up 3% on a 1.5% decrease in combined attendance, a 3% increase in average in-park guest per capita spending, and a 6% increase in out-of-park revenues. Excluding Geauga Lake, combined October attendance was still up 4% between years and average in-park guest per capita spending was also up 4%.

Read the press release from Cedar Fair.

Thursday, November 4, 2004 6:05 PM
Congrats CF, November 10th is so close, yet so far away.....
Thursday, November 4, 2004 6:41 PM
Hmmm...a 6% increase in out-of-park revenues. I don't suppose that has anything to do with jacking up the parking fee by 13% halfway through the season...

--Dave Althoff, Jr.
Who thinks the parking rates at most parks are criminal...

Thursday, November 4, 2004 7:44 PM
Jeff's avatar ...but it doesn't stop you from going.
Thursday, November 4, 2004 8:28 PM
Was the weather forecast voided from the article? I heard some parks had difficulty with rainy days. I'm also glad to see that physical altercations have not caused a decrease in attendance.

Sincerely, Mike Tyson

Thursday, November 4, 2004 8:32 PM
Didn't stop me. I went to GL 6 times in 2004 and it takes me 2.5 hours from PGH to get there.
Thursday, November 4, 2004 8:44 PM
What's so exciting about Nov. 10? This thread clearly leads me to belief that Geauga Lake has a watersports fetish. ;)

Music: Wake Up (Make a Move)- Lostprophets

+Danny, reading between the lines is a sporting event at CB

Thursday, November 4, 2004 8:46 PM
Well looks like well have to wait til wed. to find out then.
Thursday, November 4, 2004 8:51 PM
I'm excited about CF's investments for next season, especially because I feel it will be a turning point year for the company. These results are not as good as they may seem. Although revenue might be up slightly, it is due mostly to increase in prices. This indeed has not prevented people from going, but it will also hit a maximum point eventually. The only way to generate continuously increasing revenue on a year to year basis is to increase attendance overall. This year's numbers are disappointing, especially given the extra few operating days in this quarter. Hopefully things will start to get better, but it's not terrible now either. At least they are meeting their distribution.
*** This post was edited by MagnumAllan 11/4/2004 8:52:25 PM ***
Thursday, November 4, 2004 9:05 PM
The 13% increase in the parking fee (actually 12.5%) hasn't stopped me from going, but then I go frequently enough that I pre-paid my parking fee a season in advance.

--Dave Althoff, Jr.

Thursday, November 4, 2004 9:56 PM
See I didn't get the parking pass with my 2005 pass because I'm gonna be doing alot of traveling to visit the other CF parks a few times each and wasn't sure if it was good for the other parks. So I just didn't get it.
Thursday, November 4, 2004 10:06 PM
So do you, Danny. So do you...;)
Thursday, November 4, 2004 10:11 PM
Jeff's avatar

The only way to generate continuously increasing revenue on a year to year basis is to increase attendance overall.
You mean besides the increases in per capita spending, resort spending and acquisitions?

This year's numbers are disappointing...
Yeah, investors really frown upon increases in revenue.

Let Dick and the gang run the company. You have no idea what you're talking about.

Friday, November 5, 2004 3:18 AM
Jeff, it seems that you selectively quote about as well as a politician. CF is a great company, which is why I have a large portion of my med school tuition money tied up in them now. My only point is that SOME companies compensate for decreasing sales by increasing prices. This works for only a limited time as long as the trend continues; CF has used this method for at least a few quarters now, and this last quarter had a few extra days which is a significant statistic. If it continues for a few more years, then investors should be worried. This is why I said that next year will be an important year, especially since their stakes are high.
I give up fighting this battle with you Jeff because no matter what I say, you will selectively quote it and distort it every way possible until you believe you've "gotten me." Case is a pretty difficult school and I simply don't have time to argue with people who sit at home in good old Brunswick, OhiA. You win ;)*** This post was edited by MagnumAllan 11/5/2004 4:16:48 AM ***
*** This post was edited by MagnumAllan 11/5/2004 4:17:52 AM ***
Friday, November 5, 2004 7:59 AM
I haven't gotten into the whole buying stocks thing yet because I don't know where to begin. If I did go and buy stock, It would would probably b from CF. I believe their the best run amusement park company in this world, maybe even the moon.
Friday, November 5, 2004 9:11 AM
Jeff's avatar razore86: It's a pretty safe investment for the long haul, and after 70 straight quarters of paying out a distribution (like a dividend), you can't go wrong. For me at least, it made up for the losses I sustained in the dotcom days (that and a few short sells on tech stocks). As long as the board continues to play it conservatively, I don't doubt that it will be a great unit for years to come.

Allan: Do you want a cookie for going to college? I want one too then. Stephanie gets like three at this point for her advanced degrees. Anyone else? Cookies are on me!

No one took what you said out of context, your point is just weak. Assuming for a minute that you were correct, that increased prices were a poor way to grow revenue, you could look back at the last decade and see that for the most part every increase was in line with inflation.

And attendance is a fixture for the established parks at this point. Cedar Point has been in the same attendance range now for the last 15 years I can remember. Only the more recent acquisitions have room to grow at this point, and maybe Dorney given its location.

It's an income stock (unit). Investors aren't looking for IPO-style growth here. At the current price it offers a 6% return annually. That's not a huge score, but it's predictable and safe. Can't say that about much of anything these days.

I get to "sit at home" because I did the work, sonny. Study hard, and one day you can set your own work hours and be your own boss.

Friday, November 5, 2004 9:26 AM
I go to college do I get a cookie?
Friday, November 5, 2004 9:31 AM
Hey Jeff what does CF pay out? Say that I own 3 shares - what would my return be?
Friday, November 5, 2004 9:47 AM
Thanks for the advice on the work Jeff. When you have a degree from a reputable university, come talk to me. When Stephanie has any type of degree from a reputable university, come talk to me. When Brunswick has landmarks that aren't barns, come talk to me.
Friday, November 5, 2004 10:34 AM
If you take away SFOT, SFMM, SFDL, SFKK, SFSL, SFNO, SFFT, etc. etc....

Six Flags revenues are up with their property Wyandot Lake ;)


You must be logged in to post

POP Forums - ©2022, POP World Media, LLC