Mountain resort company Vail Resorts reported positive top and bottom line results for the second quarter. Profit was driven by a one-time tax benefit of about $64.6 million or $1.55 per share, which lifted earnings by 57.9% year-over-year to $235.7 million or $5.67 per share.
The company’s total net revenue for the quarter inched up 1.28% to $734.5 million compared to $724 million a year ago. The company said its resort reported EBITDA increased 1.21% year-over-year to $308.9 million, which includes the operations of Stowe and $1.4 million of acquisition and integration related expenses.
Vail Resorts Board of Directors approved a 40% increase in its quarterly cash dividend to $1.47 per share from $1.053 per share, payable on April 11, 2018.
The company updated its fiscal 2018 guidance range and now expects resort reported EBITDA to be between $607 million and $627 million. Fiscal 2018 real estate reported EBITDA is expected to be between negative $8 million and negative $2 million. Net income attributable to the company is seen between $357 million and $391 million in fiscal 2018.
Last month, the IPO market was in a full swing. IPOs of Snowflake (NYSE: SNOW) and JFROG (NASDAQ: FROG) had an impressive opening day in September, the former creating a
PepsiCo Inc. (NASDAQ: PEP) beat market expectations on both revenue and earnings for the third quarter of 2020. The company saw the momentum continue in its snacks business while the
With more and more people turning to virtual entertainment sources, amid the virus-related movement restrictions, video game publishers like Electronic Arts (NASDAQ: EA) are witnessing unusually high demand. Not surprisingly,