Cedar Fair (NYSE: FUN) reported earnings on May 8. Here are the numbers you need to know.

The 10-second takeaway
For the quarter ended March 31 (Q1), Cedar Fair crushed expectations on revenues and missed expectations on earnings per share.

Compared to the prior-year quarter, revenue grew significantly. Non-GAAP loss per share expanded. GAAP loss per share increased.

Gross margins increased, operating margins grew, net margins dropped.

Revenue details
Cedar Fair logged revenue of $41.8 million. The five analysts polled by S&P Capital IQ hoped for a top line of $30.0 million on the same basis. GAAP reported sales were 48% higher than the prior-year quarter's $28.2 million.

Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.

EPS details
EPS came in at -$1.36. The five earnings estimates compiled by S&P Capital IQ averaged -$1.20 per share. Non-GAAP EPS were -$1.36 for Q1 versus -$1.32 per share for the prior-year quarter. GAAP EPS were -$1.95 for Q1 versus -$1.18 per share for the prior-year quarter.

Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.

Margin details
For the quarter, gross margin was -95.4%, much better than the prior-year quarter. Operating margin was -157.2%, much better than the prior-year quarter. Net margin was -261.1%, much worse than the prior-year quarter. (Margins calculated in GAAP terms.)

Looking ahead
Next quarter's average estimate for revenue is $368.1 million. On the bottom line, the average EPS estimate is $0.90.

Next year's average estimate for revenue is $1.11 billion. The average EPS estimate is $2.73.

Investor sentiment
The stock has a two-star rating (out of five) at Motley Fool CAPS, with 357 members out of 435 rating the stock outperform, and 78 members rating it underperform. Among 122 CAPS All-Star picks (recommendations by the highest-ranked CAPS members), 107 give Cedar Fair a green thumbs-up, and 15 give it a red thumbs-down.

Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Cedar Fair is outperform, with an average price target of $44.75.

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