Vail Resorts Stock Price, News & Analysis

Vail Resorts (NYSE: MTN) reported a net loss of $137 million for Q1 FY2023, a slight improvement over $139.3 million last year. Resort Reported EBITDA loss was $96.5 million, up from $108.4 million in Q1 FY2022, attributed to recovery from COVID-19. Pass sales increased by 6% in both units and sales dollars compared to the previous year, and by 86% in units since the 2019/2020 season. The company reaffirmed fiscal 2023 net income guidance of $321-$396 million and announced a quarterly dividend of $1.91 per share, payable January 2023.

Vail Resorts, Inc. (NYSE: MTN) has appointed Angela Korch as Executive Vice President and Chief Financial Officer, effective Dec. 22, 2022. Korch rejoins the company after serving as CFO at CorePower Yoga, bringing over a decade of experience in Vail’s finance roles. Her prior accomplishments include managing financial strategies during a period of rapid expansion and integration of 32 mountain resorts. She replaces Michael Barkin, who is resigning to pursue personal opportunities, with his last day scheduled for Jan. 1, 2023.

Vail Resorts, Inc. (NYSE: MTN) announced financial results for its fiscal first quarter 2023, ending October 31, 2022, will be released after market close on December 8, 2022. A conference call will follow at 5:00 p.m. ET the same day, where executives will discuss the results. Interested parties can listen via the company's website or by dialing in. A replay will be accessible shortly after the call, lasting until December 22, 2022. Vail Resorts operates premier ski resorts and is committed to sustainability and community engagement, striving for a zero net operating footprint by 2030.

Vail Resorts, based in Broomfield, Colorado, recently released its fifth annual Progress Report, detailing advancements towards achieving a zero net operating footprint by 2030. Key highlights include achieving 100% renewable electricity at North American resorts and 96% globally, donating $22.9 million to local organizations, and providing $1.3 million in emergency relief. The company aims to enhance community support and ensure equitable access to skiing. Vail Resorts continues significant investment in sustainability, highlighting its commitment to climate action alongside its operational goals.

Vail Resorts (NYSE: MTN) has appointed Kenny Thompson, Jr. as its first Chief Public Affairs Officer. This role, effective Dec. 5, 2022, will see Thompson oversee government relations, community relations, communications, sustainability, and the EpicPromise social responsibility platform. With over two decades of public affairs experience, including roles in the Obama White House and PepsiCo, Thompson aims to enhance corporate-community partnerships. CEO Kirsten Lynch praised his values and expertise in social impact.

Vail Resorts and Telluride Ski & Golf announced a multi-year extension of their partnership, enhancing access for Epic Pass holders. The Epic Pass ($879) and Epic Adaptive Pass ($421) will offer seven days at Telluride with no blackout dates, and discounts on further lift tickets. Additionally, Epic 4-7 Day Passes will provide access to Telluride with a 20% discount on additional tickets thereafter. This partnership, which began in 2018, reinforces Telluride's position in Vail's extensive resort network, benefiting both local and destination skiers.

Vail Resorts has announced a new technology for the 2023/24 North American ski season, allowing guests to store lift tickets and passes on their phones using Bluetooth® Low Energy. This innovation aims to enhance the guest experience by eliminating the need to carry plastic cards or visit ticket windows. The company expects to test this feature in the 2022/23 season, supporting its sustainability efforts by reducing plastic waste. Guests preferring physical cards will still have that option available.

Vail Resorts (NYSE: MTN) reported strong fiscal 2022 results with a net income of $347.9 million, up from $127.9 million in fiscal 2021, driven by a recovery from COVID-19 impacts. Resort EBITDA increased to $836.9 million, a 53.7% rise year-over-year. Season pass sales for the 2022/2023 ski season rose by 6% in units and 7% in sales dollars, bolstering future growth. The company forecasts fiscal 2023 net income between $321 million and $396 million, supported by ongoing investments and integration of recent acquisitions. A quarterly dividend of $1.91 per share is set for October 2022.

Vail Resorts has announced an expansion of its Epic for Everyone youth access program for the 2022/23 season, aiming to host 9,000 participants across 29 North American resorts. This year, the program will provide approximately $9 million in product contributions, including free lessons and equipment, and has added new partnerships with organizations to reach underrepresented youth. Vail Resorts Executive Chairperson Rob Katz and his wife will contribute $1.6 million in grants to support the program, demonstrating a commitment to increasing diversity in snow sports.