Vail Resorts, Inc. - MTN STOCK NEWS

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.

Vail Resorts, Inc. (NYSE: MTN) will disclose its financial results for the fiscal year ending July 31, 2022, on September 28, 2022, after market close. A conference call is scheduled for 5:00 p.m. Eastern Time that same day, where company executives will review these results. Interested parties can access the call via the company's Investor Relations website or by telephone. A replay of the call will be available for two weeks following the event. Vail Resorts operates a global network of ski resorts and is committed to achieving a zero net operating footprint by 2030.

Vail Resorts has announced the upcoming 2022/23 ski season plans, with opening dates for 37 North American resorts starting in October at Keystone. To enhance guest experience, lift ticket sales will be limited daily across all resorts. Significant investments are being made in employee pay, housing, and new lift upgrades, with 18 new chairlifts and gondolas scheduled. Dining facilities will operate without COVID-19 restrictions. The season is expected to last into May, with lodging discounts available for early bookings.

Vail Resorts is promoting its 2022/23 Epic Pass ahead of rising prices post-Labor Day on September 5. The Epic Day Pass offers up to 65% savings compared to regular lift ticket prices, targeting occasional skiers. New this season, the Epic Pass includes Andermatt-Sedrun in Central Switzerland, expanding access to 41 resorts globally. The company has invested in 18 lift upgrades to enhance guest experience and is focusing on employee satisfaction with improved pay and affordable housing options. Pass Holders can now utilize Epic FlexPay for easier payment plans.

Vail Resorts, Inc. (NYSE: MTN) has acquired a 55% stake in Andermatt-Sedrun Sport AG, a premier ski resort in Central Switzerland, for CHF 149 million. This marks Vail's first investment in a European ski resort, enhancing its foothold in the global market. With CHF 110 million earmarked for capital improvements, Vail aims to elevate the guest experience. Former Park City Mountain COO, Mike Goar, will lead the resort's operations. Additionally, Vail announced 2022-23 season pass access, offering Epic Pass holders unrestricted entry to Andermatt-Sedrun.

Vail Resorts, Inc. (NYSE: MTN) announced the resignation of CFO Michael Barkin, effective December 31, 2022, after nearly a decade in his role. Barkin's departure, noted for his significant contributions to the company's growth, comes as he pursues personal opportunities. He joined Vail Resorts in 2012, serving as CFO since March 2013 and played a pivotal role in the company's expansion with the acquisition of 34 resorts globally. The leadership team expressed gratitude for his expertise and support during crucial transitions.

Vail Resorts reported Q3 fiscal 2022 net income of $372.6 million, up from $274.6 million year-over-year, highlighting a recovery from COVID-19 restrictions. Resort EBITDA increased to $610.5 million, reflecting improved conditions. Fiscal 2022 guidance was raised, expecting Resort EBITDA of $828-842 million, including revenues from newly acquired Seven Springs Resorts. Season pass sales for 2022/2023 showed a 9% increase in units and 11% rise in sales dollars. The company declared a dividend of $1.91 per share and plans significant investments in employee wages and capital projects.

Vail Resorts, Inc. (NYSE: MTN) will announce its fiscal 2022 third-quarter financial results on June 9, 2022, after market close. A conference call is scheduled for 5:00 p.m. ET the same day, where executives will review these results. Interested parties can listen to the call via the company's Investor Relations section on their website or by phone. A replay will be available shortly after the call and can be accessed until June 23, 2022. Vail Resorts operates 40 mountain resorts and regional ski areas, making it a leader in the global mountain resort industry.