Cedar Fair Lp Stock Earnings Reports

Six Flags reported a solid start to 2026 driven by higher attendance, stronger in-park spending and disciplined cost control, though Q1 is a small, seasonally limited period (≈6–8% of full year). Management highlighted targeted senior leadership changes (interim finance lead named), continued monetization of noncore assets and land sales, and a recent refinancing that improved liquidity and extended maturities. Key operating results: attendance +4%, per capita spending +6%, net revenue +12% year-over-year in Q1; these combined with cost reductions drove a $48 million improvement in adjusted EBITDA. Management cautioned results benefited from the timing of Easter and more-normal California operations versus last year and said Q1 should not be extrapolated to the full year. Strategic priorities emphasize revenue management and digital enhancements (integrated ticketing, embedded pricing expertise) that are producing higher conversion, trade-ups into higher-value season passes, and stronger cross-park visitation via a new regional (“Gold”) pass. Capital allocation remains disciplined: 2026 CapEx expected $425–450M, cash interest $300–320M, and cash taxes ~$25–30M (plus a significant tax refund claimed). Company sold several smaller/noncore parks (six U.S. parks closed, Montreal pending) to sharpen focus on higher-return properties, reintroduced park presidents to decentralize decision-making, and continues rolling out new attractions to broaden appeal. Management is not providing formal full-year guidance but will provide ongoing qualitative updates as visibility improves.