Categories Earnings, Other Industries

Vail Resorts falls on revenue miss

Mountain resort company Vail Resorts (MTN) reported a wider loss in the fourth quarter, hurt by higher operating expenses. Though the bottom line was still better than what analysts had anticipated, revenue missed estimates, sending shares down 3.80% in the premarket session.

Net loss widened to $83.7 million or $2.07 per share from $57.1 million or $1.43 per share a year ago. Revenue inched up 1.2% to $211.6 million.

Mountain revenue increased 4.5%, driven by revenue growths in Lift, Ski school, and Dining, though this was partially offset by a decline in the retail/rental revenue. Lodging net revenue grew 4.6% on growths across all of its sub-segments.

Looking ahead into the fiscal year 2019, the company expects net income between $288 million and $335 million. Reported resort EBITDA for fiscal 2019 is projected between $718 million and $750 million.

Vail Resorts expects resort EBITDA margin to be about 31.5% in fiscal 2019, using the midpoint of the guidance range. This is an estimated 80 basis point increase over fiscal 2018. Real Estate reported EBITDA is anticipated to be between negative $3 million and positive $3 million.

Vail Resorts ended the fiscal year with $178.1 million of cash on hand, $130 million of borrowings under the revolver portion of senior credit facility and a total long-term debt of about $1.3 billion.

The company’s board of directors has declared a quarterly cash dividend of $1.47 per share of its common stock. The dividend will be payable on October 26, 2018, to shareholders of record on October 9, 2018.

In addition, a Canadian dollar equivalent dividend on the exchangeable shares of Whistler Blackcomb will be payable on October 26, 2018, to exchangeable shareholders of record on October 9, 2018.

Shares of Vail Resorts ended Thursday’s regular session down 0.89% at $286.13 on the NYSE. The stock has gained more than 34% year-to-date.

Most Popular

Does Unity Software (U) stock has more room to run?

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 (PEP): Steady snacking habits amid pandemic drive strong quarter for beverage giant

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

Does the virus-driven boom make Electronic Arts (EA) a good investment?

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,

One thought on “Vail Resorts falls on revenue miss

Comments are closed.

Tags

Add Comment
Loading...
Cancel
Viewing Highlight
Loading...
Highlight
Close
Top