Breathtaking Stock: Vail Resorts, Inc. (NYSE:MTN

On Thursday, The Company has 13.40% of outstanding shares and 9.122B shares were floated in the market. Vail Resorts, Inc. (NYSE:MTN) moved with change of +1.71% to $226.58 with the total traded volume of 218,510 shares in recent session versus to an average volume of 359,061. After opening the first trading session at $223.84, it registered a day’s high of $228.93 and touched a day’s low of $223.28.

Vail Resorts, Inc. (MTN) recently stated results for the third quarter of fiscal 2019 ended April 30, 2019, as well as the Company’s results of its early season pass sales for the 2019/2020 North American ski season.

Highlights

  • Net income attributable to Vail Resorts, Inc. was $292.1Mfor the third fiscal quarter of 2019 contrast to net income attributable to Vail Resorts, Inc. of $256.3M in the same period in the previous year.
  • Resort Stated EBITDA was $480.7Mfor the third fiscal quarter of 2019, which includes the operations for acquisitions completed during the fiscal year (Falls Creek, Hotham, Triple Peaks and Stevens Pass) prospectively from each acquisition date, and $4.9M of acquisition and integration related expenses. In the same period in the previous year, Resort Stated EBITDA was $419.7M, which included $3.5M of acquisition and integration related expenses.
  • The Company updated its fiscal 2019 guidance range and is now expecting Resort Stated EBITDA, on a comparable basis with its previous guidance issued on March 8, 2019which excluded the predictable Resort Stated EBITDA contribution from the Falls Creek and Hotham resorts, to be between $700M and $710M. For fiscal 2019, Falls Creek and Hotham resorts are predictable to contribute $2M of Resort Stated EBITDA, including a $3M stamp duty payment and $1M of integration expenses. Including the impact of Falls Creek and Hotham, the Company expects Resort Stated EBITDA to be between $702M and $712M, which includes an estimated $16M of acquisition, stamp duty and integration related expenses and $4M of unfavorable foreign exchange as a result of the U.S. Dollar strengthening relative to the time of our initial guidance issued in September 2018.
  • Season pass sales through May 28, 2019for the upcoming 2019/2020 North American ski season raised about 9% in units and 13% in sales dollars as contrast to the period in the previous year through May 29, 2018, not including sales of all military pass products in both periods. Pass sales include Stevens Pass and Triple Peaks pass sales in both periods and are adjusted to eliminate the impact of foreign currency by applying an exchange rate of $0.74 between the Canadian dollar and U.S. dollar to the current period and the previous period for Whistler Blackcomb pass sales.

Season Pass Sales

Commenting on the Company’s season pass sales for the upcoming 2019/2020 North American ski season, Katz stated, “We are very happy with the results for our season pass sales to date, which showed strong growth over the record pass sales results we saw last spring, with particular strength over the Memorial Day deadline. Pass sales through May 28, 2019 for the upcoming 2019/2020 North American ski season raised about 9% in units and 13% in sales dollars, as contrast to the previous year period through May 29, 2018, not including sales of all military pass products in both periods, including Stevens Pass and Triple Peaks pass sales in both periods and adjusted to eliminate the impact of foreign currency by applying an exchange rate of $0.74 between the Canadian dollar and U.S. dollar to the current period and the previous period for Whistler Blackcomb pass sales. Military pass sales are off to a strong start but remain in our verification period and we will plan to provide further updates on sales trends as the selling season progresses.”

Updated Outlook

  • Net income attributable to Vail Resorts, Inc., including the impact of Falls Creek and Hotham, is predictable to be between $277Mand $297M for fiscal 2019.
  • Resort Stated EBITDA, including the impact of Falls Creek and Hotham, is predictable to be between $702Mand $712M, which includes an estimated $16M of acquisition, stamp duty and integration related expenses and $4M of unfavorable foreign exchange as a result of the U.S. Dollar strengthening relative to the time of our initial guidance issued in September 2018. For fiscal 2019, Falls Creek and Hotham resorts are predictable to contribute about $2M of Resort Stated EBITDA, including a $3M stamp duty payment and $1M of integration expenses. The updated outlook for fiscal year 2019 is predicated on current Canadian and Australian foreign exchange rates of $0.74 and $0.69, respectively, for each currency to the U.S. dollar for the remainder of the fiscal year.
  • Resort EBITDA Margin is predictable to be about 31.1% in fiscal 2019 at the midpoint of our guidance range.
  • Fiscal 2019 Real Estate Stated EBITDA is predictable to be between negative $5Mand negative $4M.

Analyst recommendation for this stock stands at 2.20. A look on the firm performance, its monthly performance is 3.88% and a quarterly performance of 2.24%. The stock price is trading downbeat from its 200 days moving average with -0.71% and up from 50 days moving average with 1.20%.

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