Cedar Fair Entertainment Co. reported Thursday that third-quarter net income rose 35 percent while revenues climbed 7 percent.
Cedar Fair, owner of the Kings Island and Cedar Point amusement parks in Ohio, said it earned $190 million, or $3.41 per share, for the quarter that ended Sept. 29. That compares with $141 million, or $2.52 per share, during the same period last year. Revenues totaled $592 million, up $38.6 million from third quarter 2012.
Cedar Fair’s net revenues increased to $592.1 million for the third quarter, up $38.6 million, or 7 percent, from $553.5 million in the third quarter a year ago. Net income for the quarter was $190.4 million, or $3.41 per diluted LP unit, compared with net income of $141.0 million, or $2.52 per diluted LP unit during the same period last year.
Cedar Fair’s board increased the company’s quarterly cash distribution by 12 percent to 70 cents per limited partner (LP) unit, payable Dec. 16.