Cedar Fair Parks Hurt by Weather, but Knott’s Does OK

Cedar Fair LP, the Ohio partnership that owns Knott’s Berry Farm, said Friday that its second-quarter and full-year earnings will fall short of analysts’ estimates because cool, rainy weather has kept customers away from its other amusement and water parks.

Cedar Fair, which owns five amusement parks and four water parks, said it expects to report earnings of 35 cents to 37 cents a unit in the second quarter, short of the 42 cents average estimate of six analysts polled by First Call/Thomson Financial. It plans to release second-quarter results Aug. 4.

Although he didn’t go into detail, Cedar Fair Chief Executive Richard L. Kinzel said Knott’s attendance “is meeting our expectations.”

Attendance also has been strong at two California water parks, including the separate-admission park, Soak City USA, that Knott’s opened last month in Buena Park, Kinzel added. The other water park, also under Knott’s management, is in Chula Vista.

The earnings estimates were disclosed after the close of regular trading in U.S. markets. Cedar Fair’s shares were off 19 cents to $19 on the New York Stock Exchange.