Cedar Fair L.P.

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Other Pre-Announcement

Cedar Fair Provides Preliminary Operating Results For The 2020 Third Quarter And Updates Its Current Liquidity Position

Published: 10/01/2020 11:49 GMT
Cedar Fair LP (FUN) - Cedar Fair Provides Preliminary Operating Results for the 2020 Third Quarter and Updates Its Current Liquidity Position.
Sees Q3 2020 Revenue $85 Million to $90 Million.
Q3 Revenue View $119.0 Million -- Refinitiv Ibes Data (analyst estimates).
As of Sept.
27, 2020, Company Had Cash on Hand of Approximately $215 Million.
Anticipates It Will Have Ample Liquidity to Meet Its Cash Obligations Through End of 2021, Even If Operations Remain Disrupted.
Attendance at Reopened Parks Has Been Impacted by Self-imposed Limitations, Fewer Operating Days and Hours.
Q3 In-park per Capita Spending is Expected to Decrease by About 6% to $47 Compared to $49.94 in Q3 of 2019.
Park Attendance Trends Have Gradually Improved Since Reopening.
Attendance in Q3 Totaled 1.3 Million Guests, a Decline of 11.9 Million Guests From Q3 of 2019.company Had Total Liquidity of About $574 Million As of Sept 27.
Attendance Versus Prior-year Has Ranged From About 35% to 40% for Last Few Weeks Leading Up to Labor Day.
Anticipates It Will Have Ample Liquidity to Meet Its Cash Obligations Through End of 2021, Even If Operations Remain Disrupted.
On Several Days in August, Attendance at Several Parks Easily Exceeded 50% of Prior-year Attendance.