Showing posts from November, 2017

Earnings Analysis: Cedar Fair (FUN)

Back on November 2, Cedar Fair announced the results of their third quarter fiscal 2017 earnings results.  Results were a little mixed as they missed on the top line slightly, but provided a nice beat against earnings expectations.  EBITDA guidance confirmed what was already expected last quarter, with the company decidedly unable to meet its $500M target a year early.  Despite this, the board decided to increase its annual distribution (remember, this is an MLP, not a regular stock with a dividend) by 4%.  That sets the payout at $3.56, or approximately 5.27% as of today's price.  

Revenues came in at $652.69M compared to estimates of $652.97M, which were revised down during the quarter.  Despite this, earnings beat expectations of $3.24 by eighteen cents, showing strong cost and expense discipline.  Despite management's desire to avoid using it as an excuse, weather clearly was a factor prior, considering how Hurricane Harvey rolled through the Midwest and East coast when it …