Core Viewpoint - The market anticipates Vail Resorts (MTN) to report a year-over-year decline in earnings despite an increase in revenues for the quarter ending October 2025, with actual results being crucial for stock price movement [1][2]. Earnings Expectations - Vail Resorts is expected to report a quarterly loss of $5.23 per share, reflecting a year-over-year change of -13.5% [3]. - Revenue projections stand at $271.27 million, indicating a 4.2% increase from the same quarter last year [3]. Estimate Revisions - The consensus EPS estimate has been revised down by 0.12% over the last 30 days, indicating a reassessment by analysts [4]. - The Most Accurate Estimate for Vail Resorts is higher than the Zacks Consensus Estimate, resulting in an Earnings ESP of +1.18% [12]. Earnings Surprise Prediction - A positive Earnings ESP reading suggests a potential earnings beat, especially when combined with a strong Zacks Rank [10]. - Vail Resorts currently holds a Zacks Rank of 4, which complicates the prediction of an earnings beat despite the positive Earnings ESP [12]. Historical Performance - In the last reported quarter, Vail Resorts was expected to post a loss of $4.75 per share but actually reported a loss of -$5.08, resulting in a surprise of -6.95% [13]. - Over the past four quarters, the company has exceeded consensus EPS estimates three times [14]. Conclusion - While Vail Resorts does not appear to be a strong candidate for an earnings beat, investors should consider other factors before making investment decisions [17].

Core Insights - Vail Resorts has appointed Celeste Burgoyne as Executive Vice President & Chief Revenue Officer, effective January 26, 2026, to drive growth and oversee marketing and guest experience [1][2][3] Company Overview - Vail Resorts operates a network of premier ski resorts, including Vail Mountain, Breckenridge, and Whistler Blackcomb, among others, with a commitment to providing an "Experience of a Lifetime" [4] - The company aims to achieve a zero net operating footprint by 2030 and supports its employees and communities [4] Leadership Background - Celeste Burgoyne has a strong background in driving growth at lululemon, where she was responsible for over $7.5 billion in revenue and led guest experience innovation [2][3] - She has been with lululemon since 2006, playing a key role in expanding the brand from fewer than 10 stores to over 750 globally [2][3]

Core Viewpoint - Vail Resorts, Inc. will release its financial results for the fiscal first quarter of 2026 on December 10, 2025, after market close, followed by a conference call to discuss the results [1]. Financial Results Announcement - The financial results for the fiscal first quarter ended October 31, 2025, will be announced after market close on December 10, 2025 [1]. - A conference call will be held at 5:00 p.m. Eastern Time on the same day to review the financial results [1]. Conference Call Details - The call will be accessible via broadcast at investors.vailresorts.com [2]. - Participants can join by dialing (800) 267-6316 in the U.S. or Canada, or +1 (203) 518-9783 internationally, with the conference ID MTNQ126 [2]. - A replay of the call will be available two hours after the conclusion until December 17, 2025 [2]. Company Overview - Vail Resorts operates a network of premier ski resorts, including Vail Mountain, Breckenridge, and Whistler Blackcomb, among others [3]. - The company aims to achieve a zero net operating footprint by 2030 and is committed to supporting employees and communities [3]. - Vail Resorts also manages a collection of hotels and retail locations across North America [3].

Core Points - The Epic Pass for the 2025/26 winter season is available for purchase until December 4, providing access to premier ski resorts like Whistler Blackcomb, Park City Mountain, Vail Mountain, and Breckenridge [1][2][4] - Epic Pass Holders can enjoy significant savings on lift tickets and exclusive offers, including 50% off lift tickets for friends and family through Epic Friend Tickets [3][5][12] - Various holiday festivities and events are planned across the resorts, enhancing the winter experience for visitors [5][6] Summary by Category Epic Pass Details - The Epic Pass allows access to multiple world-class ski resorts and is essential for holiday skiing experiences [1][2] - Passes include flexible options like the Epic 1-7 Day Pass, which offers savings compared to purchasing individual lift tickets [3][6] Promotions and Offers - Epic Pass Holders can save up to 30% on lodging during the Cyber Sale and can apply the cost of Epic Friend Tickets towards future passes [5][7] - Resort Rewards are available for guests booking three nights or more, providing gift cards for various services [6] Holiday Events and Activities - Each resort has planned unique holiday events, such as tree lightings, parades, and live performances, to celebrate the season [5][6] - Notable events include the Torchlight Parade at Park City Mountain and the Fire & Ice Show at Whistler Blackcomb [5]

Core Insights - Norwegian Cruise Line (NCLH) is currently rated as a Strong Buy (1) while Vail Resorts (MTN) is rated as a Strong Sell (5), indicating a significant difference in their earnings outlooks [3] - NCLH has a forward P/E ratio of 8.95 and a PEG ratio of 0.54, suggesting it is undervalued compared to MTN, which has a forward P/E of 21.22 and a PEG ratio of 2.39 [5] - NCLH's P/B ratio is 3.87, while MTN's P/B ratio is 6.75, further supporting the conclusion that NCLH is a more attractive investment option based on valuation metrics [6] Valuation Metrics - The forward P/E ratio for NCLH is significantly lower than that of MTN, indicating a better valuation for NCLH [5] - The PEG ratio for NCLH (0.54) is much more favorable compared to MTN (2.39), highlighting NCLH's potential for earnings growth relative to its price [5] - NCLH's P/B ratio of 3.87 is lower than MTN's 6.75, suggesting that NCLH is trading at a more attractive valuation relative to its book value [6] Investment Conclusion - Given the stronger estimate revision activity and more favorable valuation metrics, NCLH is positioned as the superior investment option for value investors compared to MTN [7]

Core Insights - Baron Focused Growth Fund reported a 4.83% appreciation in Q3 2025, underperforming the Russell 2500 Growth Index's 10.73% gain due to economic growth slowdown concerns affecting Consumer Discretionary stocks [1] - Competitive pressures have negatively impacted the valuations of some holdings within the fund [1] Company Analysis: Vail Resorts, Inc. (NYSE:MTN) - Vail Resorts, Inc. experienced a one-month return of -8.24% and a 52-week loss of 21.15%, with a market capitalization of $5.102 billion as of November 4, 2025 [2] - The stock declined 4.7% in Q3 2025, contributing to an 18 basis points detriment to the fund's performance, primarily due to concerns over slowing visitation levels and stagnant season pass sales [3] - In response to these challenges, Vail Resorts is refining its marketing strategy, investing in new media channels, and narrowing the pricing gap between lift tickets and season passes to boost pass sales [3] - Consumer sentiment towards Vail's pass products is improving, and the company maintains strong margins and cash flow, supporting share repurchases and a 6% dividend yield [3] - The stock is viewed as significantly undervalued compared to its historical valuation, with expectations of growth reacceleration in the coming years [3] Hedge Fund Interest - Vail Resorts, Inc. was held by 33 hedge fund portfolios at the end of Q2 2025, a slight decrease from 35 in the previous quarter, indicating a moderate level of interest among hedge funds [4] - Despite its potential, certain AI stocks are considered to offer greater upside potential and lower downside risk compared to Vail Resorts [4]

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Core Insights - Vail Resorts reported a wider-than-expected net loss for Q4 fiscal 2025, with revenues missing estimates despite a year-over-year increase [2][3] - The company experienced a decline in skier visits, yet managed to maintain a stable EBITDA margin for the full year [5][9] - There has been a downward trend in estimates for the company's performance, leading to a Zacks Rank of 5 (Strong Sell) [12][13] Financial Performance - Q4 fiscal 2025 revenues were $271.3 million, up 2.2% from $265.3 million year-over-year, but below the Zacks Consensus Estimate of $272 million [2] - The net loss attributable to shareholders was $185.5 million, or $5.08 per share, compared to a loss of $176.6 million, or $4.70 per share, in the previous year [3] - Full-year fiscal 2025 revenues reached $2.96 billion, a 2.7% increase year-over-year, with net income rising to $280 million ($7.53 per share) from $231.1 million ($6.09 per share) in fiscal 2024 [3] Margins and Profitability - Resort Reported EBITDA for Q4 was a loss of $123.6 million, compared to a loss of $114.6 million in the prior-year period, influenced by higher costs related to CEO transition and resource efficiency [4] - The full-year Resort Reported EBITDA margin was 28.5%, showing modest expansion despite a 3% decline in skier visits [5] Segment Performance - The Mountain segment net revenues increased by 2.9% year-over-year to $180.9 million in Q4, driven by dining and ski school [6] - Lodging segment net revenues were $90.3 million, up 0.9%, with Lodging Reported EBITDA growing 48% to $4.1 million [6] Balance Sheet and Capital Management - As of July 31, 2025, Vail Resorts had $440 million in cash and total liquidity of approximately $1.4 billion, with net debt at $2.75 billion [7] - The company repurchased 1.29 million shares for $200 million in Q4, totaling $270 million for the full year, representing 4.5% of outstanding shares [8] Guidance and Outlook - For fiscal 2026, Vail Resorts anticipates net income between $201 million and $276 million, with Resort Reported EBITDA projected at $842 million to $898 million, indicating a margin of roughly 28.8% [9] - The guidance reflects expected efficiency savings and normalized weather conditions, but is tempered by lower pass unit sales and cost inflation [9]

Core Insights - Keystone Resort opened as the first ski resort in North America for the season on October 25, 2025, with other major resorts preparing to open before December [1][3][12] Group 1: Epic Pass and Pricing - Epic Pass prices will increase after November 16, 2025, encouraging early purchases to lock in savings [2][6] - The Epic Pass offers unlimited access to 42 mountain resorts for $1,121 for adults and $572 for children, with additional discounts for military personnel [7] - New Epic Friend Tickets provide 50% off lift tickets for friends of Epic Pass holders, redeemable throughout the winter season [8][10] Group 2: Events and Activities - Various events are scheduled for December, including the Stifel Birds of Prey Audi FIS World Cup at Beaver Creek and the Rockstar Energy Open at Breckenridge [4] - Vail Mountain will host a vibrant après-ski scene with live music performances and culinary experiences throughout the season [4][5] - Breckenridge's Ullr Fest, celebrating its 62nd year, will take place from December 18, honoring the Norse god of snow [4] Group 3: New Offerings and Experiences - The new Ski & Ride School will allow guests to track their progress through the My Epic app, enhancing the skiing experience [4] - Culinary experiences at Vail Mountain include unique dining options and collaborations with renowned chefs [5] - Whistler Blackcomb introduces new Wonder Routes for a guided après-ski adventure [4]

Core Insights - Vail Resorts, Inc. is a leading global mountain resort operator, owning renowned ski resorts and luxury hotels, competing with Alterra Mountain Company and Aspen Skiing Company [1] Performance Metrics - Over the past 30 days, Vail Resorts has experienced a modest gain of approximately 0.42%, reflecting investor confidence and positive market sentiment [2][5] - Despite a minor decline of about 0.41% in the last 10 days, this short-term dip could present a buying opportunity for investors [2] Growth Potential - The stock has a projected increase of 21.33%, indicating that Vail Resorts is currently undervalued and has room for appreciation, making it attractive for growth-oriented investors [3][5] - Analysts have set a target price of $181.4, suggesting the stock's potential to reach higher valuations based on its current fundamentals [3] Financial Health - Vail Resorts has a Piotroski Score of 8, indicating robust financial health, including strong profitability, liquidity, and operational efficiency [4][5]