I wrote about Vail Resorts (NYSE: MTN ) previously with a hold rating as I did not think that it would be able to hit its FY25 adj. EBITDA guidance. 2Q25 results were mixed. While revenue grew 5.5% y/yI am an individual investor that is now fully focus on managing my own capital that I have saved up over the years. My investing background spreads across a wide spectrum as I believe there are merits to each approach, for instance: Fundamental investing [Bottoms-up etc.], Technical investing [historical chart ...

Vail Resorts, Inc. (MTN) has unveiled My Epic Pro for Ski and Ride School, a new technology that will be available in the My Epic app from the 2025/2026 season.MTN stock inched up 1.8% during Monday’s trading hours, after the announcement of the new digital innovation.Perks of MTN’s My Epic ProMy Epic Pro will ensure a seamless, connected and next-level experience for the company’s child and adult group lesson participants, offering digital check-in, real-time lesson updates, photo sharing, skills tracking, ...

My Epic Pro creates a seamless direct-to-lesson digital check-in, plus offers real-time updates and photos, and gamification of ski and snowboard skills progression tracking The new technology launches in the My Epic app for the 2025/26 winter season at Vail Mountain, Beaver Creek, Breckenridge and Keystone My Epic Pro is the latest industry-leading innovation from Vail Resorts following Mobile Pass, My Epic Gear and My Epic Assistant BROOMFIELD, Colo., March 17, 2025 /PRNewswire/ -- Vail Resorts today an ...

Vail Resorts, Inc. (MTN) reported second-quarter fiscal 2025 results, with earnings beating the Zacks Consensus Estimate and revenues missing the same. Both the metrics increased on a year-over-year basis.See Zacks Earnings Calendar to stay ahead of market-making news.Vail Resorts reported strong quarterly results, with the resort reported EBITDA rising 8% year over year. It stated benefits from the stability of its season pass program, ongoing investments in guest experience and solid execution across its ...

Financial Data and Key Metrics Changes - The company reported a net income of $245.5 million or $6.56 per diluted share for Q2 FY2025, compared to $219.3 million or $5.76 per diluted share in the same period last year, reflecting a significant increase [10] - Resort reported EBITDA was $459.7 million for Q2 FY2025, up from $425 million in the same period last year, despite including $2.9 million of one-time costs related to the Resource Efficiency Transformation Plan [10][5] - Season-to-date total skier visits were down 2.5% compared to the previous year, while total lift ticket revenue was up 4.1% [12] Business Line Data and Key Metrics Changes - Ancillary spend per destination guest visit was strong across Ski School and Dining, with ski school revenue up 3% and dining revenue up 3.1%, while combined retail and rental revenue was down 2.9% [12][7] - The overall revenue in Ancillary businesses was impacted by a lower mix of destination visitation [7] Market Data and Key Metrics Changes - Destination guest visitation at Western North American resorts was below prior year levels, attributed to a shift in historical visitation patterns [6] - Local guest visitation was in line with expectations as conditions improved from the prior year [6] Company Strategy and Development Direction - The company is focused on improving organizational effectiveness and achieving $100 million in annualized cost efficiencies by the end of FY2026 through its Resource Efficiency Transformation Plan [9] - Capital investments for FY2025 are expected to be approximately $249 million to $254 million, including core capital and growth capital investments in European resorts [23] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the current conditions at resorts, noting a mix of historical normal snowpack levels [37] - The company expects improved performance for the remainder of the season, driven by a significant base of pre-committed guests and current lodging booking trends [14] Other Important Information - The company declared a quarterly cash dividend of $2.22 per share, payable on April 10, 2025 [21] - As of January 31, 2025, total liquidity was approximately $1.7 billion, including $488 million in cash [18] Q&A Session Summary Question: Can you walk us through the core conditions on the ground? - Management noted that visitation at North American resorts was slightly above prior year levels, benefiting from improved conditions, but February visitation contracted as expected due to industry demand normalization [38] Question: Is there room for a bigger pivot in narrative regarding core constituencies? - Management acknowledged the need to communicate effectively with guests and address challenges, particularly regarding the Park City experience [46] Question: Have you seen any impact from tariffs on visitation trends? - Management stated that they have not seen a significant reaction to tariffs but continue to monitor visitation trends closely [54] Question: What drove the growth in non-pass revenues? - The increase in non-pass lift revenue was primarily driven by improved conditions at Eastern U.S. resorts [82] Question: What areas need work for improving customer satisfaction? - Management highlighted the need to address lift line wait times and improve the overall guest experience through various investments [100]

Core Insights - Vail Resorts (NYSE: MTN) has experienced a significant decline in share price, losing 30% over the past year due to a decrease in consumer discretionary spending [1] Financial Performance - The company reported solid Q2 results, which provided some relief to investors [1]

Financial Data and Key Metrics Changes - The company reported a net income of $245.5 million or $6.56 per diluted share for Q2 FY2025, compared to $219.3 million or $5.76 per diluted share in the same period last year, reflecting a significant increase [10] - Resort reported EBITDA for Q2 FY2025 was $459.7 million, including $2.9 million of one-time costs related to the Resource Efficiency Transformation Plan, compared to $425 million in the prior year [10] - The company expects net income for FY2025 to be between $257 million and $309 million, with resort reported EBITDA guidance unchanged at $841 million to $877 million [15][16] Business Line Data and Key Metrics Changes - Season-to-date total skier visits were down 2.5% compared to the previous year, while total lift ticket revenue was up 4.1% [12] - Ancillary business results showed ski school revenue up 3%, dining revenue up 3.1%, and combined retail and rental revenue down 2.9% compared to the prior year [12][86] - The company noted strong ancillary spend per destination guest visit, particularly in Ski School and Dining, despite lower destination visitation impacting overall revenue [7][13] Market Data and Key Metrics Changes - Destination guest visitation at Western North American resorts was below prior year levels, attributed to a shift in visitation patterns to later in the ski season [6] - Local guest visitation was in line with expectations, benefiting from improved conditions compared to the previous year [6] - The company reported strong performance in Eastern U.S. resorts, with non-pass lift revenue up 17.5% driven by improved conditions [82] Company Strategy and Development Direction - The company is focused on enhancing guest experience through investments in capacity, technology, and infrastructure, with a capital plan of approximately $249 million to $254 million for 2025 [23][24] - The Resource Efficiency Transformation Plan aims to achieve $100 million in annualized cost efficiencies by the end of FY2026 [9] - The company continues to prioritize returning capital to shareholders while investing in high-return projects and strategic acquisitions [22] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in current conditions and anticipates improved performance for the remainder of the season, driven by a significant base of pre-committed guests and positive lodging booking trends [14][41] - The company acknowledged the normalization of industry demand and the shift in guest behavior towards later spring visits, which has been a long-term trend [42] - Management emphasized the importance of addressing guest feedback and improving the overall guest experience, particularly in light of challenges faced at Park City [46][47] Other Important Information - The company declared a quarterly cash dividend of $2.22 per share, payable on April 10, 2025 [21] - As of January 31, 2025, the company's total liquidity was approximately $1.7 billion, including $488 million in cash [18] - The company repurchased approximately $50 million of its zero percent convertible senior notes, maintaining a strong balance sheet with net debt at 2.5 times trailing 12 months total reported EBITDA [19][20] Q&A Session Summary Question: Can you walk us through the core conditions on the ground? - Management noted that visitation at North American resorts was slightly above prior year levels, with some resorts experiencing normal snowpack conditions, while February visitation contracted as expected [37][38] Question: Is there room for a bigger pivot in narrative regarding core constituencies? - Management acknowledged the need to communicate effectively with guests and address challenges, particularly regarding the Park City experience [46][47] Question: Have you seen any impact from tariffs on visitation trends? - Management indicated no overt reaction to tariffs but continues to monitor visitation trends closely, especially at Whistler Blackcomb [54] Question: What is the current level of commitment to the dividend? - Management reaffirmed commitment to the current dividend level, citing confidence in free cash flow generation [95][96] Question: What areas need work to improve customer satisfaction? - Management highlighted the importance of reducing wait times and enhancing the guest experience through various investments and technology [99][100] Question: What is the outlook for long-term structural margins? - Management expects to increase margins through normal operating leverage and the Resource Transformation Plan, aiming for a margin of approximately 29.3% for FY2025 [106][108]

Core Insights - Vail Resorts exceeded earnings expectations in its fiscal 2025 second quarter, reporting diluted earnings per share of $6.56 against an estimate of $6.29, and revenue of $1.137 billion, slightly below the expected $1.139 billion [2][3] Financial Performance - The fiscal Q2 2025 results showed a 13.9% increase in diluted EPS from $5.76 in Q2 2024 to $6.56 [3] - Revenue increased by 5.5% year-over-year from $1.078 billion in Q2 2024 to $1.137 billion [3] - Net income rose by 12% to $246 million compared to $219 million in the previous year [3] - Resort reported EBITDA increased by 8.1% to $460 million from $425 million in Q2 2024 [3] Business Overview and Strategy - Vail Resorts operates 42 ski destinations across North America, Switzerland, and Australia, with a focus on generating income from lift tickets and ancillary services [4] - The company is expanding its global footprint through acquisitions and enhancing resort infrastructure to improve guest experiences [4] - Key success factors include optimizing season pass sales and increasing operational efficiency through cost-management efforts [4] Season Pass and Revenue Streams - Season pass products are a major revenue source, with a 4.1% sales increase despite a decrease in units sold [5] - The mountain segment's lift revenues grew by 6.9% to $644.9 million, driven by enhanced pass revenues and a 17.5% rise in non-pass revenue from Eastern U.S. resorts [6] Lodging Segment Challenges - The lodging segment faced a 4.3% revenue decline due to reduced destination skier visits and a decrease in managed condominium inventory [7] - Lodging reported EBITDA dropped significantly by 56.5%, highlighting vulnerability to changing guest visitation patterns [7] Strategic Initiatives and Future Outlook - Vail aims to achieve $100 million in annualized cost efficiencies by 2026 through its Resource Efficiency Transformation Plan [8] - The company maintained its quarterly dividend payout at $2.22 per share, emphasizing prudent financial oversight [8] - Management expects 2025 resort reported EBITDA to be between $841 million and $877 million, with net income projected in the range of $257 million to $309 million [9] Sustainability and Market Position - The company is focusing on infrastructure enhancement and eco-friendly initiatives, such as the Commitment to Zero by 2030, to improve brand appeal and align with consumer preferences for sustainable tourism [10]

Vail Resorts (MTN) came out with quarterly earnings of $6.56 per share, beating the Zacks Consensus Estimate of $6.29 per share. This compares to earnings of $5.76 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.29%. A quarter ago, it was expected that this ski resort operator would post a loss of $5.14 per share when it actually produced a loss of $4.61, delivering a surprise of 10.31%.Over the last four quarters, the compa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-09614 Vail Resorts, Inc. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation or Organizati ...