Cedar Fair LP, the parent company of Cedar Point and 10 other amusement parks, said Thursday that its net revenues rose $12 million, or 1 percent, to a record $939 million through its primary operating season, which began in May and ended Sept. 1.
However, the amusement park chain, which also operates four water parks and five hotels, said that overall attendance at its properties fell by 1 percent during the season and it also suffered a $3 million decrease in out-of-park revenues, which includes stays at its resorts.
As a result, the company said that it had lowered its full-year earnings forecast to net revenues of between $1.15 billion and $1.17 billion, and earnings before interest, taxes, depreciation, and amortization, or EBITDA, to between $425 million and $435 million.
Earlier, Cedar Fair said it had expected net revenues to fall between $1.16 billion and $1.18 billion, and EBITDA to be between $435 million and $445 million.
In trading on the New York Stock Exchange, Cedar Fair shares fell $1.07 to close at $47.43.
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