The earnings call presented a mixed outlook with stable financial performance and strong transformation plans offset by challenges in certain market segments, particularly in Australia and Whistler Blackcomb. While EBITDA and liquidity remain strong, the decline in pass sales units and Australian resort performance are notable concerns.

Company Guidance

During the Vail Resorts Fiscal First Quarter 2025 Earnings Conference Call, significant guidance was provided on several financial metrics. Resort reported EBITDA remained consistent with the prior year, despite a $9 million decline in Australian resorts due to record low snowfall and other factors. Vail Resorts outlined a 2-year resource efficiency transformation plan aimed at achieving $100 million in annualized cost efficiencies by the end of fiscal 2026. The company's 2024-2025 North American season pass sales showed a 59% growth in units and a 47% increase in sales dollars over four years, with a 2% decrease in units but a 4% increase in sales dollars compared to the previous year. The company expects to generate over $975 million in revenue from approximately 2.3 million guests committed to its resorts. Net loss attributable to Vail Resorts was $172.8 million, slightly improved from $175.5 million in the prior year. The company declared a quarterly cash dividend of $2.22 per share and repurchased shares worth $20 million. Resort reported EBITDA guidance for fiscal 2025 is projected to be between $838 million and $894 million.

Steady Resort EBITDA

Resort reported EBITDA was consistent with the prior year, driven by growth in North American summer business, offset by Australian resorts' performance.

Resource Efficiency Transformation Plan

The plan is expected to generate $100 million in annualized cost efficiencies by the end of fiscal 2026.

Strong North American Pass Sales

Over the last 4 years, pass product sales for the ski season grew 59% in units and 47% in sales dollars.

Early Season Success

Early season conditions allowed several resorts to open earlier than anticipated, with improved terrain conditions relative to the prior year.

Stable Financial Position

Total liquidity was approximately $1 billion, with $404 million in cash and $620 million in revolver availability.

Updated Guidance for Net Income

Net income guidance was updated to $240 million to $316 million, up from $224 million to $300 million.

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Vail Resorts (MTN) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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MTN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Sep 28, 2018	2018 (Q4)	- / -2.07	-1.43	-44.76% (-0.64)	―	―
Dec 07, 2018	2019 (Q1)	- / -2.66	-0.71	-274.65% (-1.95)	―	―
Mar 08, 2019	2019 (Q2)	- / 5.02	5.67	-11.46% (-0.65)	―	―
Jun 06, 2019	2019 (Q3)	- / 7.12	6.17	15.40% (+0.95)	―	―
Sep 26, 2019	2019 (Q4)	- / -2.22	-2.07	-7.25% (-0.15)	―	―
Dec 09, 2019	2020 (Q1)	- / -2.64	-2.66	0.75% (+0.02)	―	―
Mar 09, 2020	2020 (Q2)	- / 5.04	5.02	0.40% (+0.02)	―	―
Jun 04, 2020	2020 (Q3)	- / 3.74	7.12	-47.47% (-3.38)	―	―
Sep 24, 2020	2020 (Q4)	- / -3.82	-2.22	-72.07% (-1.60)	―	―
Dec 10, 2020	2021 (Q1)	- / -3.82	-2.64	-44.70% (-1.18)	―	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

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MTN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Dec 09, 2024	$188.46	$193.17	+2.50%
Sep 26, 2024	$183.40	$176.23	-3.91%
Jun 06, 2024	$186.94	$167.65	-10.32%
Mar 11, 2024	$214.31	$215.85	+0.72%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

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