Vail Resorts (MTN) Misses Q2 EPS by 28c; lowers FY guidance

Vail Resorts (NYSE: MTN) reported Q2 EPS of $5.76, $0.28 worse than the analyst estimate of $6.04. Revenue for the quarter came in at $1.08 billion versus the consensus estimate of $1.15 billion.

GUIDANCE

We now expect net income attributable to Vail Resorts, Inc. for fiscal 2024 to be between $270 million and $325 million, and Resort Reported EBITDA for fiscal 2024 to be between $849 million and $885 million. We estimate Resort EBITDA Margin for fiscal 2024 to be approximately 29.6%, using the midpoint of the guidance range. Our guidance includes an estimated $4 million of acquisition related expenses specific to Crans-Montana, but does not include any estimate for the closing costs, operating results or integration expense associated with the Crans-Montana acquisition, which is expected to close this spring. The updated outlook for fiscal 2024 assumes a continuation of the current economic environment and normal weather conditions for the remainder of the 2023/2024 North American and European ski season and for the 2024 Australian ski season.

For earnings history and earnings-related data on Vail Resorts (MTN) click here.

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