Vail Resorts Inc. (NYSE:MTN) delivered a profit and missed Wall Street’s expectations, BUT beat the revenue expectation. The revenue beat is a positive sign to shareholders seeking high growth out of the company. Shares are up 1.89%.
Vail Resorts Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 29.92% to $1.65 in the quarter versus EPS of $1.27 in the year-earlier quarter.
Revenue: Rose 13.14% to $422.4 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Vail Resorts Inc. reported adjusted EPS income of $1.65 per share. By that measure, the company missed the mean analyst estimate of $1.70. It beat the average revenue estimate of $414.13 million.
Quoting Management: Robert Katz, Chief Executive Officer, commented, “We are very pleased with our performance in the second quarter of fiscal 2013, which was notable for two distinct dynamics we experienced in the quarter. The first was our results through the middle of December, which were marked by unusually warm and dry weather in Colorado that limited the terrain we could open, leading to lower than expected results for our four Colorado resorts. The second began with the Christmas and New Year’s holidays as weather conditions in Colorado returned to more normal patterns, leading to strong visitation and significant consumer spending in our ancillary businesses producing a record holiday season. Subsequent to the holidays, this momentum continued with solid results through the end of January.”
Key Stats (on next page)…