The 10-second takeaway
For the quarter ended Dec. 31 (Q4), Cedar Fair missed slightly on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue contracted. Non-GAAP loss per share didn't change. GAAP loss per share expanded.
Gross margins contracted, operating margins grew, net margins dropped.
Cedar Fair logged revenue of $129.2 million. The three analysts polled by S&P Capital IQ expected a top line of $131.4 million on the same basis. GAAP reported sales were 11% lower than the prior-year quarter's $144.8 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at -$0.15. The two earnings estimates compiled by S&P Capital IQ averaged -$0.03 per share. Non-GAAP EPS of -$0.15 were the same as the prior-year quarter. GAAP EPS were -$0.19 for Q4 compared to -$0.01 per share for the prior-year quarter.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 36.8%, 10 basis points worse than the prior-year quarter. Operating margin was 8.1%, 230 basis points better than the prior-year quarter. Net margin was -8.0%, 760 basis points worse than the prior-year quarter.
On the bottom line, the average EPS estimate is -$0.95.
Next year's average estimate for revenue is $1.11 billion. The average EPS estimate is $2.34.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 359 members out of 436 rating the stock outperform, and 77 members rating it underperform. Among 119 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 105 give Cedar Fair a green thumbs-up, and 14 give it a red thumbs-down.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cedar Fair is buy, with an average price target of $41.00.
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