Cedar Fair, L.P. (NYSE:FUN) Q2 2020 Earnings Conference Call - Final Transcript

Aug 05, 2020 • 10:00 am ET

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Cedar Fair, L.P. (NYSE:FUN) Q2 2020 Earnings Conference Call - Final Transcript

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Operator
Operator

Ladies and gentlemen, thank you for standing by and welcome to the Cedar Fair Entertainment Company's 2020 Second Quarter Earnings Call. At this time, all lines have been placed on mute to prevent any background noise and after the speakers' presentation, there will be a question-and-answer session. [Operator Instructions]

I would now like to turn the call over to Michael Russell, Corporate Director of Investor Relations. Please go ahead, sir.

Executive
Michael Russell

Thank you, James and good morning, everybody. Welcome to our 2020 second quarter earnings conference call. Earlier this morning, we distributed via wire service our earnings news release, a copy of which is available under the News tab of our Investors website at ir.cedarfair.com. On the call with me this morning are Richard Zimmerman, Cedar Fair President and CEO; and Brian Witherow, our Executive Vice President and CFO. Before we begin, I need to remind you that comments made during this call will include forward-looking statements within the meaning of the federal securities laws. These statements may involve risks and uncertainties that could cause actual results to differ from those described in such statements. For a more detailed discussion of these risks, you may refer to the Company's filings with the SEC.

In compliance with the SEC's Regulation FD, this webcast is being made available to the media and the general public as well as analysts and investors, because the webcast is open to all constituents, and prior notification has been widely and unselectively disseminated. All content on this call will be considered fully disclosed.

With that, I would like to hand it over now to our CEO, Richard Zimmerman. Richard.

Executive
Richard A. Zimmerman

Thank you, Michael, and thanks to everyone for joining us this morning. I want to start this call by wishing all of you well, and I hope that you and your families are safe and adjusting to what feels like a new normal. We are now more than five months into the pandemic, and while none of us have a crystal ball to know where and when this will end, I couldn't be prouder of how our teams have come together and adapted to the challenges at hand. Seeing how we've responded over the past several months gives me confidence that Cedar Fair will emerge from this crisis an even stronger Company than before.

On the call today, I will focus my remarks and provide more details on three specific areas: first, the progress we have made to date, including the reopening of parks and the ability of our team to adapt to an uncertain environment and a shifting marketplace; second, the learnings and insights we've gathered to date that will better position us to address the effects of the pandemic moving forward, including trends we are seeing in our business; and finally, our near-term outlook for the business, including a discussion around the strategies and initiatives we are working on to ensure we emerge from this crisis stronger and better positioned for growth. Like others in our space and