Yahoo Finance Vail Resorts (MTN) Reports Ski Season Metrics, Stock Down
Vail Resorts, Inc. MTN recently announced its interim period data for its 2022/23 North American ski season through Jan 8, 2023. Following the announcement, shares of the company declined 2.3% during trading hours on Jan 18.
Ski Season Metrics
Season-to-date (through Jan 8, 2023) total skier visits increased 12.5% compared with the prior-year season-to-date period (Jan 9, 2022). Improved conditions at Colorado, Utah and Tahoe resorts and the easing of travel restrictions in Canada contributed to a strong rebound in destination visitation compared with the prior year period.
Lift ticket revenues (including an allocated portion of season pass revenues for each applicable period) increased 5.3% compared with the prior year’s season-to-date period. Ski school revenues surged 35.6% year over year while dining revenues jumped 58% compared with the prior-year period’s levels.
Retail/rental revenues for North American resort and ski area store locations increased 34.4% compared with the prior-year season-to-date period.
Kirsten Lynch, CEO of Vail Resorts, said, “Results season to date for the 2022/2023 North American ski season outperformed results from the comparable prior year period, which were negatively impacted by challenging early season conditions, elevated COVID-19 cases associated with the Omicron variant and staffing-driven capacity constraints in our ancillary businesses.”
The company witnessed lower-than-expected destination guest visitation at western U.S. resorts. This was primarily driven by extreme weather conditions and airline disruptions during the peak holiday period. Given the backdrop of pre-committed guests (through advance commitment pass products), strong conditions across western resorts and current lodging booking trends, the company anticipates a delay in visitation patterns, similar to the holiday period. For fiscal 2023, the company anticipates Resort Reported EBITDA to be in the lower half of the $893-$947 million range.
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In the past three months, shares of Vail Resorts have gained 18.9% compared with the industry’s 21% growth.
Zacks Rank & Key Picks
Vail Resorts currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Some better-ranked stocks in the Zacks Consumer Discretionary sector are World Wrestling Entertainment, Inc. WWE, OneSpaWorld Holdings Limited. OSW and Manchester United plc MANU.
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The Zacks Consensus Estimate for WWE’s 2023 sales and earnings per share (EPS) indicates a rise of 4.9% and 10.7%, respectively, from the year-ago period’s estimated levels.
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