Yahoo Finance Winners And Losers Of Q1: Cedar Fair (NYSE:FUN) Vs The Rest Of The Leisure Facilities Stocks
As the craze of earnings season draws to a close, here's a look back at some of the most exciting (and some less so) results from Q1. Today, we are looking at leisure facilities stocks, starting with Cedar Fair (NYSE:FUN).
Leisure facilities companies often sell experiences rather than tangible products, and in the last decade-plus, consumers have slowly shifted their spending from "things" to "experiences". Leisure facilities seek to benefit but must innovate to do so because of the industry's high competition and capital intensity.
The 13 leisure facilities stocks we track reported a weaker Q1; on average, revenues beat analyst consensus estimates by 1.6%. while next quarter's revenue guidance was 5.2% below consensus. Valuation multiples for many growth stocks have not yet reverted to their early 2021 highs, but the market was optimistic at the end of 2023 due to cooling inflation. The start of 2024 has been a different story as mixed signals have led to market volatility, but leisure facilities stocks have performed well, with the share prices up 11.9% on average since the previous earnings results.
Cedar Fair (NYSE:FUN)
Originally a lakeside resort, Cedar Fair (NYSE:FUN) operates amusement parks and resorts, delivering thrilling experiences and family entertainment across North America.
Cedar Fair reported revenues of $101.6 million, up 20.2% year on year, exceeding analysts' expectations by 9%. Overall, it was a strong quarter for the company with an impressive beat of analysts' visitors estimates.
“Our performance trends through the first four months of the season extend the momentum we established in the second half of 2023 and underscore the strength of our portfolio and business model,” said Cedar Fair President and CEO Richard Zimmerman.
The stock is up 22.4% since reporting and currently trades at $50.28.
Is now the time to buy Cedar Fair? Access our full analysis of the earnings results here, it's free.
Best Q1: United Parks & Resorts (NYSE:PRKS)
Parent company of SeaWorld and home of the world-famous Shamu, United Parks & Resorts (NYSE:PRKS) is a theme park chain featuring marine life, live entertainment, roller coasters, and waterparks.
United Parks & Resorts reported revenues of $297.4 million, up 1.4% year on year, outperforming analysts' expectations by 4.5%. It was a very strong quarter for the company with an impressive beat of analysts' earnings estimates and a narrow beat of analysts' visitors estimates.
The market seems happy with the results as the stock is up 20.1% since reporting. It currently trades at $59.01.
Is now the time to buy United Parks & Resorts? Access our full analysis of the earnings results here, it's free.
Weakest Q1: Dave & Buster's (NASDAQ:PLAY)
Founded by a former game parlor and bar operator, Dave & Buster’s (NASDAQ:PLAY) operates a chain of arcades providing immersive entertainment experiences.
Dave & Buster's reported revenues of $588.1 million, down 1.5% year on year, falling short of analysts' expectations by 4.5%. It was a weak quarter for the company with a miss of analysts' earnings estimates.
Dave & Buster's had the weakest performance against analyst estimates in the group. As expected, the stock is down 20.4% since the results and currently trades at $40.12.
Read our full analysis of Dave & Buster's results here.
Topgolf Callaway (NYSE:MODG)
Formed between the merger of Callaway and Topgolf, Topgolf Callaway (NYSE:MODG) sells golf equipment and operates technology-driven golf entertainment venues.
Topgolf Callaway reported revenues of $1.14 billion, down 2% year on year, falling short of analysts' expectations by 1.1%. Overall, it was an ok quarter for the company with an impressive beat of analysts' earnings estimates but full-year revenue guidance missing analysts' expectations.
Topgolf Callaway had the weakest full-year guidance update among its peers. The stock is down 4.9% since reporting and currently trades at $15.54.
Read our full, actionable report on Topgolf Callaway here, it's free.
Bowlero (NYSE:BOWL)
Operating over 300 locations globally, Bowlero (NYSE:BOWL) is a contemporary bowling company merging classic lanes with entertainment and deluxe food offerings.
Bowlero reported revenues of $337.7 million, up 7% year on year, falling short of analysts' expectations by 1.1%. Zooming out, it was a weak quarter for the company with a miss of analysts' earnings estimates.
The stock is up 5.5% since reporting and currently trades at $13.17.
Read our full, actionable report on Bowlero here, it's free.
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