Dorney Park owner posts higher revenue, lower profit
The owner of Dorney Park & Wildwater Kingdom saw record first-quarter revenues Wednesday, but it also posted a drop in net income.
Cedar Fair Entertainment Co. lost $83.8 million, $1.50 per limited partnership unit, for the period ending March 29, similar from last year, when it showed a loss of $83.5 million, or $1.51 per unit. The earnings per unit loss missed analysts’ estimate of $1.28.
The net income loss is not an overall indicator of financial performance, since Dorney and many other Cedar Fair parks are closed during the first three months of the year. The company does break out financial results on individual amusement parks.