logo
  Join        Login             Stock Quote

Vail Resorts (MTN) Posts Wider 1Q Loss, Warns On Outlook

 December 04, 2012 09:54 AM
 


(By Balaseshan) Vail Resorts Inc. (NYSE: MTN) reported wider first-quarter loss due to flat revenue and higher expenses. Revenue marginally missed consensus and the loss was wider than market expectations.

Looking ahead for fiscal 2013, the Broomfield, Colorado-based company said it expects that it will be more difficult to achieve the 27% to 32% Resort Reported EBITDA growth guidance, based on certain most recent booking trends.

Loss per share for the first quarter widened to $1.70 from $1.54 in the year-ago quarter, wider than market expectations of a loss of $1.59.

Net revenue was $116.4 million, roughly flat from last year, yet missing consensus estimates of $116.69 million.

[Related -Futures Gain After Payrolls Data; Quiksilver, Inc. (ZQK) Retreats]

Revenue from the company's Mountain segment increased 4.5%, while down 2.0% at Lodging. Real Estate segment revenue declined 9.2%.

"Our first fiscal quarter is historically a loss quarter since our mountain resorts are not open for winter ski operations during the period. The quarter is driven primarily by our late summer mountain activities, dining, retail and lodging operations, and administrative expenses for our year-round employees," said Rob Katz, Chief Executive of Vail Resorts.

Vail Resorts said it observed improving trends in summer business in both Mountain and Lodging operations from improved summer visitation in mountain resorts driving increased summer activities revenue, higher lodging RevPar and improved dining revenues.

[Related -Stock Upgrades And Downgrades: CA, JNJ, JNPR, LLL, MTN, NOC, WLL]

The company said its Lodging business also benefited from increased group business at Keystone, as well as the addition of a new national park property, Flagg Ranch, partially offset by lower results at Grand Teton Lodging Co. (GTLC) summer national park business, which was impacted by the effects of wildfires in the area.

Sales of season passes through December 2, 2012 for the upcoming 2012/2013 ski season were up about 5% in units and about 8% in sales dollars versus last year.

"We will know more about the season after the holidays and intend to address our fiscal 2013 guidance when we release our ski season metrics in mid-January," said Katz.

In addition, Vail Resorts said its Board of Directors has declared a quarterly cash dividend on common stock of $0.1875 per share, payable on December 27 to shareholders of record on December 19.

MTN is trading down 9.01% at $50.81 on Tuesday. The stock has been trading between $37.54 and $59.49 for the past 52 weeks.

iOnTheMarket Premium
Advertisement

Advertisement


Post Comment -- Login is required to post message
Name:  
Alert for new comments:
Your email:
Your Website:
Title:
Comments:
 

rss feed

Latest Stories

article imageChipotle Mexican Grill, Inc. (CMG) Q2 Earnings Preview: Will Higher Traffic Offset Higher Costs the Key

Chipotle Mexican Grill, Inc. (NYSE:CMG) will host a conference call to discuss second quarter 2014 read on...

article imageNetflix, Inc. (NFLX) Q2 Earnings Preview: The Ruby Month for a Reason

Netflix, Inc. (NASDAQ:NFLX) will post its second-quarter 2014 financial results and business outlook on its read on...

article imageLadenburg Thalmann Financial Services (NYSEMKT:LTS): Heavy, Durable Insider Buying

Ahh, but any worries over price levels didn’t stop multiple insiders at Ladenburg Thalmann Financial read on...

article imageInternational Business Machines Corp. (IBM) Q2 Earnings Preview: Small Beat and Pop

International Business Machines Corp. (NYSE:IBM) will host a conference call Wednesday, Jul. 16, 2014 at read on...

Advertisement
Popular Articles

Advertisement
Daily Sector Scan
Partner Center



Fundamental data is provided by Zacks Investment Research, and Commentary, news and Press Releases provided by YellowBrix and Quotemedia.
All information provided "as is" for informational purposes only, not intended for trading purposes or advice. iStockAnalyst.com is not an investment adviser and does not provide, endorse or review any information or data contained herein.
The blog articles are opinions by respective blogger. By using this site you are agreeing to terms and conditions posted on respective bloggers' website.
The postings/comments on the site may or may not be from reliable sources. Neither iStockAnalyst nor any of its independent providers is liable for any informational errors, incompleteness, or delays, or for any actions taken in reliance on information contained herein. You are solely responsible for the investment decisions made by you and the consequences resulting therefrom. By accessing the iStockAnalyst.com site, you agree not to redistribute the information found therein.
The sector scan is based on 15-30 minutes delayed data. The Pattern scan is based on EOD data.