Cedar Fair Q2 2024 Earnings Report
Key Takeaways
Six Flags Entertainment Corporation announced the second quarter results for legacy Cedar Fair and legacy Six Flags. Legacy Cedar Fair experienced record revenues and attendance, while legacy Six Flags saw a slight decrease in revenue but an increase in net income. The merger integration is proceeding well, with early initiatives focused on enhancing the guest experience and ensuring consistency across park operations.
Legacy Cedar Fair reported record net revenues of $572 million, up 14%, and record attendance of 8.6 million guests, up 17%.
Legacy Cedar Fair Adjusted EBITDA increased by 36% to $205 million, with an Adjusted EBITDA Margin of 35.9%.
Legacy Six Flags reported total revenue of $438 million, a decrease of 1%, but net income increased by 66% to $34 million.
Legacy Six Flags Adjusted EBITDA was $138 million, a decrease of 14%, with a Modified EBITDA Margin of 36.9%.
Cedar Fair
Cedar Fair
Cedar Fair Revenue by Segment
Forward Guidance
Difficult weather conditions have impacted demand at several parks since the end of the second quarter. However, the company remains pleased with the broader attendance trends, supported by robust season pass sales programs and strong group bookings. The underlying demand for the entertainment value of the parks remains strong, which positions the company well for the balance of 2024 and beyond.
Revenue & Expenses
Visualization of income flow from segment revenue to net income