Cedar Fair Misses Where It Counts
Cedar Fair (NYS: FUN) reported earnings on May 3. Here are the numbers you need to know.
The 10-second takeaway
For the quarter ended March 25 (Q1), Cedar Fair beat slightly on revenues and missed expectations on earnings per share.
Compared to the prior-year quarter, revenue improved and GAAP loss per share shrank.
Gross margins dropped, operating margins improved, net margins increased.
Cedar Fair logged revenue of $28.2 million. The three analysts polled by S&P Capital IQ wanted to see a top line of $27.8 million on the same basis. GAAP reported sales were 4.9% higher than the prior-year quarter's $26.9 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 -$1.32. The two earnings estimates compiled by S&P Capital IQ predicted -$0.99 per share. GAAP EPS were -$1.18 for Q1 versus -$1.53 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 -167.3%, 960 basis points worse than the prior-year quarter. Operating margin was -244.7%, 490 basis points better than the prior-year quarter. Net margin was -231.2%, 8,400 basis points better than the prior-year quarter.
Next quarter's average estimate for revenue is $295.3 million. On the bottom line, the average EPS estimate is $0.34.
Next year's average estimate for revenue is $1.07 billion. The average EPS estimate is $2.28.
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 347 members out of 425 rating the stock outperform, and 78 members rating it underperform. Among 111 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 93 give Cedar Fair a green thumbs-up, and 18 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 $34.00.
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At the time this article was published Seth Jayson had no position in any company mentioned here at the time of publication. You can view his stock holdings here. He is co-advisor ofMotley Fool Hidden Gems, which provides new small-cap ideas every month, backed by a real-money portfolio. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.