Six Flags Entertainment Corporation - FUN STOCK NEWS

Cedar Fair Entertainment Company (NYSE: FUN) has announced a cash distribution of $0.30 per limited partner unit for Q3 2022, payable on September 15, 2022, to unitholders of record as of August 31, 2022. Additionally, the Board authorized a $250 million unit repurchase program, stating that this strategy reflects confidence in the company's financial stability and growth prospects. The company aims to maintain a strong balance sheet while returning capital to unitholders, signaling a positive outlook for Cedar Fair moving forward.

Cedar Fair Entertainment Company (NYSE: FUN) plans to release its 2022 second-quarter financial results on August 3, 2022, before market hours. Following the announcement, a conference call will be held at 10 a.m. EDT to discuss the results and the company's future outlook. Key executives, including Richard Zimmerman, Brian Witherow, and Michael Russell, will participate. The call can be accessed via a live audio webcast on Cedar Fair's investor site, with a recorded version available post-call.

Cedar Fair Entertainment Company (NYSE: FUN) reported record preliminary net revenues of $704 million for the year-to-date period through July 4, 2022, a 20% increase from the same fiscal period in 2019. Key drivers included a 26% rise in in-park per capita spending, reaching $59.52, and a 20% increase in out-of-park revenues. Notably, sales of 2022 season passes surpassed three million units, marking a 31% growth compared to 2019. The company's performance reflects strong consumer demand and effective strategic investments in enhancing guest experiences.

Cedar Fair (NYSE: FUN) has announced the sale of its California's Great America amusement park land to Prologis (NYSE: PLD) for approximately $310 million, retaining a long-term lease for continued operation. This transaction is part of a strategic review aimed at maximizing asset value, allowing Cedar Fair to focus on reducing debt and reinvesting in high-return projects. The company aims to reach a $2 billion debt target and plans to reinstate quarterly unitholder distributions by Q3 2022, pending board approval.

Cedar Fair (NYSE: FUN) reported a 21% increase in year-to-date net revenues, totaling $343 million, through May 30, 2022, compared to the same period in 2019. Factors contributing to this growth include a 28% rise in per capita spending and a 13% increase in out-of-park revenues, despite a reduction in attendance by 210,000 visitors due to fewer operating days. The company is optimistic about future demand, noting stronger sales in season passes and resort bookings. They plan to provide another performance update by July 4, 2022.

Cedar Fair Entertainment Company (NYSE: FUN) announced the reelection of Louis Carr, D. Scott Olivet, and Carlos A. Ruisanchez to its Board of Directors, each serving three-year terms until 2025. The company’s unitholders also confirmed Deloitte & Touche LLP as its independent registered public accounting firm and approved an advisory vote on executive officer compensation. CEO Richard A. Zimmerman acknowledged the board members' insightful contributions that have aided Cedar Fair's recovery since the pandemic.

Cedar Fair Entertainment Company (NYSE: FUN) reported strong preliminary results for Q1 2022, achieving record net revenues of $193 million, a 33% increase from Q1 2019. With all parks opening fully without restrictions for the first time since 2019, the company anticipates continued growth. Season pass sales surged by $59 million compared to 2019 levels. Although the company posted a net loss of $89 million, this was an improvement from last year's loss of $110 million. Cedar Fair aims to reinstate quarterly distributions to unitholders by Q3 2022, bolstered by strategic initiatives and healthy demand.

Cedar Fair Entertainment Company (NYSE: FUN) announced it will release its 2022 first-quarter financial results on May 4, 2022, prior to market opening. Following this, management will hold a conference call at 10 a.m. EDT to discuss the results and the company's outlook. Key executives including President and CEO Richard Zimmerman and CFO Brian Witherow will participate. The call will be accessible via a live audio webcast on Cedar Fair's investor site, with recorded access available post-call.

Cedar Fair Entertainment Company (NYSE: FUN) has opted out of the covenant modification period in its amended credit agreement, which enables the firm to reinstate quarterly cash distributions to unitholders by Q3 2022. This decision reflects the company's robust performance in late 2021 and positive season pass sales, signaling a strong recovery post-COVID-19. Cedar Fair's President, Richard A. Zimmerman, highlighted the company's resilience and growth potential in the entertainment sector as it approaches the upcoming season.