Cedar Fair L.P. (NYS:FUN) said Thursday that year-to-date revenue through July 4 was a record $704 million, up 20% from the comparable period in pre-pandemic 2019 that went through July 8. The stock was still inactive in premarket trading. The increase in revenue was fueled by new highs for in-park per capita spending of $59.52 and growth in out-of-park revenue, such as resort properties, to $88 million. The amusement park operator said those gains were partially offset by a slower recovery in its group-sales channel and a calendar shift resulting in fewer operating days through the July 4 weekend. "Our strong early-season trends indicate that consumer demand remains healthy and that guests are responding well to the quality and breadth of the entertainment experience we offer," said Chief Executive Officer Richard Zimmerman. The stock has slipped 6.8% year to date, while the S&P 500 (S&P:SPX) has dropped 19.3%.
July 7, 2022, 6:17 a.m. EDT