Cedar Fair L.P. (FUN) Misses Q2 EPS by 4c
Cedar Fair L.P. (NYSE: FUN) reported Q2 EPS of $1.03, $0.04 worse than the analyst estimate of $1.07. Revenue for the quarter came in at $388 million versus the consensus estimate of $390.43 million.
Commenting on the Company's strong second quarter and results through July 31, 2016, Matt Ouimet, Cedar Fair's president and chief executive officer, said, "Our record performance in the second quarter and through the first seven months of the year reinforces our confidence in our ability to deliver a seventh consecutive year of record results in 2016 and to continue this record-setting trend into future years. Our commitment to the quality of the guest experience and our investments in transformative capital projects are expanding our audience, enhancing repeatability and improving value perceptions, resulting in growth across all aspects of our business.
"In the month of July we did experience a pullback in results when compared with last year's record performance, however, we do not believe this is indicative of a broader trend but instead, directly related to weather during the last two weeks of the month," continued Ouimet. "Based on the nature of July attendance patterns, which showed solid year-over-year growth when weather was good, and the strength of our advance purchase commitments, such as our record season pass sales, and our trends in group bookings and hotel reservations, we continue to believe the underlying demand for our business remains strong."
For earnings history and earnings-related data on Cedar Fair L.P. (FUN) click here.
