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Apr 30, 2023
Vail Resorts Q3 2023 Earnings Report
Reported fiscal year 2023 third quarter results and provided early season pass sales results.
Key Takeaways
Vail Resorts reported net income attributable to Vail Resorts, Inc. of $325.0 million for the third fiscal quarter of 2023, with Resort Reported EBITDA of $623.3 million. The company updated its fiscal 2023 guidance and completed $400 million in share repurchases during the quarter. Pass product sales through May 30, 2023, increased approximately 6% in units and approximately 11% in sales dollars compared to the prior year.
Net income attributable to Vail Resorts, Inc. was $325.0 million for the third fiscal quarter of 2023, compared to $372.6 million in the same period in the prior year.
Resort Reported EBITDA was $623.3 million for the third quarter of fiscal 2023, compared to $610.5 million in the same period in the prior year.
The Company updated its fiscal 2023 guidance range and is now expecting net income attributable to Vail Resorts, Inc. to be between $251 million and $283 million and Resort Reported EBITDA to be between $837 million and $853 million.
Pass product sales through May 30, 2023, for the upcoming 2023/2024 North American ski season increased approximately 6% in units and approximately 11% in sales dollars as compared to the period in the prior year through May 31, 2022.
Forward Guidance
Net income attributable to Vail Resorts, Inc. is expected to be between $251 million and $283 million for fiscal 2023. Resort Reported EBITDA is expected to be between $837 million and $853 million for fiscal 2023.
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