Vail Resorts sees FY25 Resort Reported EBITDA $841M-$877M

Excluding a $7 million impact from the change in foreign currency rates, the Company’s Resort Reported EBITDA guidance midpoint for the year ending July 31, 2025 is unchanged from the original guidance provided on September 26, 2024. For the remainder of the season, the Company is expecting improved performance compared to the season-to-date period, including a continued shift in destination visitation patterns to later in the ski season, based on the significant base of pre-committed guests, current lodging booking trends, and historical guest behavior patterns. The Company now expects net income attributable to Vail Resorts (MTN), Inc. for fiscal 2025 to be between $257 million and $309 million. The Company expects Resort Reported EBITDA for fiscal 2025 to be between $841 million and $877 million. Consistent with the original fiscal 2025 guidance issued September 26, 2024, the updated guidance includes an estimated $15 million in one-time costs related to the multi-year resource efficiency transformation plan and an estimated $1 million of acquisition and integration related expenses specific to Crans-Montana. In addition, compared to the original fiscal 2025 guidance, the updated guidance includes an estimated $7 million impact from foreign exchange rates. At the midpoint, the guidance implies an estimated Resort EBITDA margin for fiscal 2025 to be approximately 28.8% or 29.3% before one-time costs from the resource efficiency transformation plan.