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Apr 30, 2024
Vail Resorts Q3 2024 Earnings Report
Reported fiscal year 2024 third quarter results and provided updated fiscal 2024 guidance.
Key Takeaways
Vail Resorts reported a net income of $362.0 million for the third quarter of fiscal 2024, compared to $325.0 million in the same period in the prior year. Resort Reported EBITDA was $654.4 million, including $1.3 million of acquisition related expenses. The company updated its fiscal 2024 guidance, expecting Resort Reported EBITDA to be between $825 million and $843 million, and net income attributable to Vail Resorts, Inc. to be between $224 million and $256 million.
Net income attributable to Vail Resorts, Inc. was $362.0 million for the third fiscal quarter of 2024 compared to net income attributable to Vail Resorts, Inc. of $325.0 million in the same period in the prior year.
Resort Reported EBITDA was $654.4 million for the third quarter of fiscal 2024, which included $1.3 million of acquisition related expenses.
The Company updated its fiscal 2024 guidance range and now expects net income attributable to Vail Resorts, Inc. to be between $224 million and $256 million and Resort Reported EBITDA to be between $825 million and $843 million.
Pass product sales through May 28, 2024 for the upcoming 2024/2025 North American ski season decreased approximately 5% in units and increased approximately 1% in sales dollars as compared to the prior year period through May 30, 2023.
Revenue by Segment
Forward Guidance
The Company expects Resort Reported EBITDA to be between $825 million and $843 million. The Company expects net income attributable to Vail Resorts, Inc. to be between $224 million and $256 million.
Positive Outlook
- Continuation of the current economic environment
- Normal weather conditions and operations throughout the Australian ski season
- Normal weather conditions and operations throughout the North America summer season
- Exchange rate of $0.73 between the Canadian dollar and U.S. dollar related to the operations of Whistler Blackcomb in Canada
- Exchange rate of $0.66 between the Australian dollar and U.S. dollar related to the operations of Perisher, Falls Creek and Hotham in Australia
Challenges Ahead
- Crans-Montana is now expected to contribute negative $12 million of Resort Reported EBITDA for fiscal 2024
- Negative $3 million from operating results
- Negative $9 million from acquisition, closing, and integration expenses.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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