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Vail Resorts slides after missing on revenue

Investing.com -- Vail Resorts Inc (NYSE:MTN) fell short of revenue expectations for its quarter ending in July, as North American summer operations underperformed.

Fourth quarter revenue rose 1% to $269.8 million and Vail reported a $3.35 loss per share. Analysts expected revenue of $282 million and loss per share of $3.28.

Season pass sales for the coming 2023/2024 North American ski season are up 7% in units and 11% in sales dollars, the company said, adding it is pleased with the performance. 

CEO Kirsten Lynch said: "Given the significant weather-related challenges this past season, we are pleased with our overall results for the year, with strong growth in 2022/2023 North American ski season visitation and spending compared to the prior year.”

Net income attributable to Vail Resorts in fiscal 2023 was $268.1 million. The company sees net income attributable to Vail Resorts to be between $316 million and $394 million for fiscal 2024. Its outlook assumes a continuation of the current economic environment and normal weather conditions for the North American and European ski seasons and Australia’s ski season, it said.

Shares dipped 0.5% in after-hours trading.

 

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