Cedar Fair reports record net revenues in Q3 2018
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Cedar Fair reports record net revenues in Q3 2018

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Theme park operator Cedar Fair has reported record Q3 net revenues – alongside uplifts in operating income and pre-tax profits.

The company, which operates Cedar Point and Valley Park among others, saw its net revenues increase by 2 per cent – by US$11m (€9.7m, £8.6m) to US$664m (€586.8m, £520.3m) – during the third quarter, when compared to Q3 2017.

Publishing its results, the company said the net revenue growth was a result of increased in-park visitor spending per capita and higher out-of-park revenues.

“The net revenue increase was the direct result of a 2 per cent increase in average in part guests per capita spending as well as an 8 per cent increase in waterpark revenues compared with the same period a year ago,” said Brian Witherow, Cedar Fair EVP and CFO in a conference call on the results.

Operating income improved in this year’s third quarter by 1 per cent compared to Q3 2017, reaching US$259m (€228.9m, £202.9m).

Adjusted EBITDA was also up 1 per cent from Q3 2017 to US$338m in the third quarter of 2018.

Based on its performance to date this year, Cedar Fair expects a full-year net revenue of US$1.34bn (€1.18bn, £1.05bn) up from US$1.32bn (€1.17bn, £1.03bn) and forecasts its full-year adjusted EBITDA will be US$470m (€415.3m, £368.3m) in 2018, up from US$460m (€406.5m, £360.4m).

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Theme park operator Cedar Fair has reported record Q3 net revenues, alongside uplifts in operating income and pre-tax profits.
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