Vail Resorts Q1 2022 Earnings Report
Key Takeaways
Vail Resorts reported a net loss attributable to Vail Resorts, Inc. of $139.3 million for the first quarter of fiscal 2022, an improvement compared to the prior year's $153.8 million loss. Resort Reported EBITDA loss was $108.4 million, compared to a loss of $94.8 million in the prior year. Pass product sales increased significantly, and the company reaffirmed its fiscal year 2022 Resort Reported EBITDA guidance of $785 million to $835 million.
Net loss attributable to Vail Resorts, Inc. was $139.3 million, improved from $153.8 million in the prior year.
Resort Reported EBITDA loss was $108.4 million, compared to a loss of $94.8 million in the prior year.
Pass product sales through December 5, 2021, increased approximately 47% in units and 21% in sales dollars compared to the prior year.
The Company reaffirmed its fiscal year 2022 Resort Reported EBITDA guidance of $785 million to $835 million.
Vail Resorts
Vail Resorts
Vail Resorts Revenue by Segment
Forward Guidance
The Company reaffirmed its Resort Reported EBITDA guidance for fiscal 2022 of $785 million to $835 million.
Positive Outlook
- Strong pass sales heading into the season.
- Favorable first quarter results.
- Strong demand seen across leisure travel.
- Strong demand in U.S. booking trends.
- Growth in pass sales expected to be partially offset by reduced lift ticket sales as guests convert to pass products.
Challenges Ahead
- Challenging early season conditions resulting in delayed openings and limited terrain.
- These conditions are anticipated to negatively impact results leading up to the holidays.
- Continued uncertainty regarding the ultimate impact of COVID-19 on business results.
- Potential impact from changing COVID-19 guidance and regulations.
- Potential changes in travel and consumer behavior resulting from COVID-19.