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Jan 31, 2025
Vail Resorts Q2 2025 Earnings Report
Vail Resorts reported strong revenue growth and increased earnings in Q2 FY25, driven by higher lift revenues and effective cost management.
Key Takeaways
Vail Resorts' Q2 FY25 revenue increased 5.5% year-over-year to $1.14 billion. Net income reached $245.5 million, with an EPS of $6.56. Total skier visits grew 6.8%, contributing to a 6.9% rise in lift revenue. Despite some declines in lodging revenue, the company maintained solid performance across mountain operations.
Q2 revenue increased 5.5% year-over-year to $1.14 billion.
Net income rose to $245.5 million, with an EPS of $6.56.
Total skier visits increased 6.8% to 7.76 million.
Cash dividend declared at $2.22 per share.
Revenue by Segment
Forward Guidance
Vail Resorts expects continued revenue growth in FY25, with a shift in destination guest visitation patterns and stable pre-committed pass sales. The company projects net income between $257M and $309M for the fiscal year.
Positive Outlook
- FY25 net income projected between $257M and $309M.
- Resort Reported EBITDA expected between $841M and $877M.
- Continued shift in visitation patterns to later in the season.
- Stable season pass sales provide revenue predictability.
- Expansion plans for Andermatt-Sedrun and Crans-Montana.
Challenges Ahead
- Lodging revenue under pressure from lower destination visitation.
- Retail revenue declined due to lower on-mountain sales.
- Foreign currency fluctuations impacting financial performance.
- Higher operating expenses from increased variable costs.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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