Vail Resorts (MTN) has reported Fiscal fourth quarter financial results that missed Wall Street forecasts on both the top and bottom lines.
The Colorado-based company announced an earnings per share (EPS) loss of $4.67, which was worse than the loss of $4.22 that analysts had expected. Revenue during the quarter came in at $265.39 million, which was also below consensus estimates of $266.94 million.
Management blamed the poor results on a 9.5% decline in skier visitations at its resorts, which include the Whistler Blackcomb facility in British Columbia, Canada and the Vail Ski Resort in Colorado. Unseasonably warm weather this spring cut the ski season short in many locations, negatively impacting the company’s financial performance.
Challenging Conditions for Vail Resorts
Looking ahead, Vail Resorts said it expects net income of $224 million to $300 million for its Fiscal 2025 year. The outlook assumes a return to normal weather conditions this winter after the challenging conditions experienced in Fiscal 2024.
Earlier this year, Vail Resorts closed its acquisition of the Crans Montana Resort in Switzerland. The company said that the addition of the Swiss resort should aid its financial results going forward. MTN stock fell less than 1% in after hours trading on news of its latest financial results. Year-to-date, the company’s share price has declined 10%.
Is MTN Stock a Buy?
Vail Resorts stock has a consensus Moderate Buy rating among six Wall Street analysts. The rating is based on three Buy and three Hold recommendations made in the last three months. There are no Sell ratings on the stock. The average price target of $202.60 per share implies 7.79% upside from current levels.
