Welcome to our dedicated page for Vail Resorts news (Ticker: MTN), a resource for investors and traders seeking the latest updates and insights on Vail Resorts stock.
Vail Resorts reports news on a global mountain resort network that includes destination and regional ski areas in North America, Switzerland and Australia. Recurring updates cover Epic Pass products, season pass sales, skier visits, lift revenue, ski school, dining, retail and rental activity, and weather-related effects on resort operations.
The company also announces financial results and guidance, summer and winter resort operations, food and beverage offerings, rental technology initiatives such as My Epic Gear, and lodging and hospitality activity tied to RockResorts, vacation rentals, condominiums and the Grand Teton Lodge Company.
Vail Resorts (NYSE: MTN) reported a net loss of $153.8 million for Q1 FY2021, a 44.4% increase from last year, primarily due to COVID-19 impacts. Resort Reported EBITDA loss was $94.8 million, increased from $76.7 million in Q1 FY2020. Season pass sales rose 20% in units but were flat in sales dollars compared to the previous year, influenced by credit redemptions. The company maintains strong liquidity with $614 million cash and $1.2 billion total cash and credit availability. The outlook remains cautious with expected declines in visitation and revenue due to travel restrictions and COVID-19 measures.
Luggage Forward has partnered with Vail Resorts (NYSE: MTN) to serve as their official luggage and sports equipment shipping service. This collaboration aims to enhance the travel experience for guests by allowing them to ship their gear directly to the resorts, avoiding the hassle of airport luggage handling. The service ensures reliable delivery to multiple destinations, including iconic locations within Vail Resorts' portfolio. Both companies are committed to sustainability, with Luggage Forward offsetting emissions through a partnership with Carbonfund.org.
Vail Resorts, Inc. (NYSE: MTN) will announce its fiscal first quarter 2021 financial results, ending October 31, 2020, after market close on December 10, 2020. A conference call to discuss these results is set for 5:00 PM ET the same day. Investors can access the call via telephone or through the company's website. A replay will be available two hours after the call until December 24, 2020. Vail Resorts operates 37 premier mountain resorts including Vail and Whistler Blackcomb, and is a leader in the global ski resort industry.
Vail Resorts (NYSE: MTN) reported a 67.2% decline in net income for fiscal 2020 to $98.8 million, largely due to COVID-19 impacts. The resort's EBITDA dropped 28.8% to $503.3 million, with revenues declining 13.6% to $1.96 billion. Season pass sales showed 18% growth in units sold, but revenue decreased 4%. As of August 31, 2020, Vail maintained a robust liquidity position with $360 million in cash and $593 million in credit availability. COVID-19 continues to pose challenges, and full-year guidance for fiscal 2021 remains suspended.
Vail Resorts, Inc. (NYSE: MTN) will release its financial results for the fiscal year ending July 31, 2020, after market close on September 24, 2020. A conference call will be held at 5:00 p.m. eastern time the same day, where executives will discuss the results. The call will be available online and through telephone for interested participants. A replay will be accessible two hours post-call until October 8, 2020. Vail Resorts operates 37 premier mountain resorts and is a leader in the global mountain resort industry.