Vail Resorts, Inc. - MTN STOCK NEWS

Vail Resorts, Inc. (NYSE: MTN) will release its financial results for the fiscal third quarter 2021, ending April 30, 2021, after market close on June 7, 2021. A conference call is scheduled for 5:00 p.m. eastern time the same day, where executives will discuss the results. The call can be accessed through the company's website, with a replay available until June 21, 2021.

Vail Resorts operates 37 world-class mountain resorts and is a leading global mountain resort operator.

Vail Resorts (NYSE: MTN) updated its financial guidance for the nine months ending April 30, 2021, projecting net income between $258 million and $280 million, and Resort Reported EBITDA between $636 million and $650 million. The increase in guidance is primarily due to stronger performance in March and April, particularly at its Colorado and Utah resorts. However, Whistler Blackcomb's performance remains adversely affected by COVID-19 restrictions. The company reports strong early season pass sales and anticipates further details in the third quarter earnings release scheduled for June 2021.

Vail Resorts, Inc. (NYSE: MTN) announced significant leadership changes on April 12, 2021. Patricia Campbell, president of the mountain division, will transition to a senior advisor role, focusing on strategic projects and diversity initiatives. James O'Donnell will succeed her as president, bringing 20 years of experience at Vail Resorts. Greg Sullivan will take over as senior vice president overseeing retail and hospitality, and Bill Rock has been promoted to executive vice president of mountain operations. These changes take effect on June 7, 2021, as part of a planned leadership succession to enhance operational excellence.

Vail Resorts has announced a 20% price reduction on its Epic Pass products as part of its Epic for Everyone initiative. All pass types, including the Epic Local Pass and Epic Day Pass, have seen significant price cuts, making skiing more accessible. The Epic Local Pass is now $583 (down from $729), and the full Epic Pass is $783 (down from $979). The company anticipates that this reduction will drive increased engagement and revenue, especially as more new customers opt for passes over traditional lift tickets.

Vail Resorts, Inc. (MTN) reported a net income of $147.8 million for Q2 FY2021, down 28.4% due to COVID-19 impacts. Resort EBITDA decreased to $276.1 million from $378.3 million the previous year, amid capacity restrictions and challenging conditions. Season-to-date skier visits fell 8.2%, with lift revenue down 8.9%. Although local visitation improved, ongoing restrictions severely impacted ski school and dining revenues. The company maintains strong liquidity with $1.4 billion in cash and expects Q3 EBITDA between $560 million and $600 million assuming stable demand and regulations.

Vail Resorts, Inc. (NYSE: MTN) will release its fiscal second quarter 2021 financial results on March 11, 2021, after market close. The call is scheduled for 5:00 p.m. eastern time the same day, where executives will review the results. Investors can listen to the call via the company’s website or by dialing in at (800) 289-0438 for U.S. calls. A replay will be available shortly after the call until March 25, 2021. Vail Resorts operates renowned mountain resorts and is a leader in the global ski industry.

Vail Resorts, a leading mountain resort operator, has renewed partnerships with eight companies, including PepsiCo and GMC, and introduced a new partnership with Luggage Forward. These collaborations aim to enhance guest experiences during the 2020/21 ski season. Vail Resorts is committed to sustainability and customer convenience, focusing on waste reduction and innovative services like luggage shipping. The company now has strategic alliances with 20 partners, emphasizing its mission to provide exceptional experiences while ensuring safety during the ongoing pandemic.

Vail Resorts, Inc. (NYSE: MTN) reported significant declines in ski season metrics for the 2020/2021 period through January 3, 2021. Total skier visits dropped by 16.6%, while lift ticket revenue fell by 20.9%. Ski school and dining revenues experienced declines of 52.6% and 66.2%, respectively. CEO Rob Katz attributed these decreases to COVID-19 impacts and reduced demand, particularly in regions with heightened restrictions. The company refrained from providing full-year guidance due to ongoing uncertainties but remained optimistic about potential improvements if conditions stabilize.