Vail Resorts (NYSE:MTN) went, well, downhill first thing Friday, following a mixed financial report for its second fiscal quarter and weak guidance that included earnings that fell short of analysts’ estimates. The company’s guidance on net income and adjusted EBITDA for the year leading up to July also came in under analysts’ expectations.
The Colorado-based resort operator posted $5.16, coming $1.07 short of consensus estimates. Meanwhile, a 21.3% jump in revenue year over year to $1.1B beat expectations by $30 million.
“Improved conditions at our Colorado, Utah and Tahoe resorts enabled select early resort openings and drove strong early season local visitation, and the easing of travel restrictions in Canada contributed to a strong rebound in destination visitation at Whistler Blackcomb relative to the prior year period,” CEO Kirsten Lynch commented. “As discussed in our January metrics release, visitation at our western U.S. resorts was negatively impacted by airline travel disruptions during the peak holiday period, as well as severe weather disruptions at our Tahoe resorts.”
Management also updated guidance to reflect net income expectations in the range of $282 million to $328 million and resort reported EBITDA between $831 million and $859 million. Management had previously forecast between $321 million to $396 million of net income attributable and $893 million to $947 million in EBITDA.
MTN shares collapsed $6.99, or 3.1%, to $221.70.
Related Stories
