Peak Resorts Earnings: SKIS Stock Pops Despite Q2 Loss

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Peak Resorts earnings for its fiscal second quarter of 2019 saw the stock rise despite a loss.

Peak Resorts Earnings: SKIS Stock Pops Despite Q2 Loss

Peak Resorts (NASDAQ:SKIS) reported losses per share of 87 cents for its fiscal second quarter of 2019. This is a drop from the company’s losses per share of 66 cents from the same time last year. It also came in below Wall Street’s losses per share estimate of 83 cents for the quarter, but couldn’t keep SKIS stock down today.

Net loss reported in the Peak Resorts earnings report for its fiscal second quarter of the year was $11.00 million. This is worse off than the company’s net loss of $8.91 million reported in its fiscal second quarter of 2018.

The most recent Peak Resorts earnings report also includes an operating loss of $12.03 million for the quarter. The ski resort company’s operating loss from the same period of the year prior was $11.78 million.

Peak Resorts’ earnings report for its fiscal second quarter of 2019 also saw the company bringing in revenue of $7.98 million. This is down from the company’s revenue of $8.84 million reported in the fiscal second quarter of the previous year. It also doesn’t meet analysts’ revenue estimate of $8.55 million for the period, but SKIS stock is still up today.

“As fall turns to winter, we are pleased to report our earliest-ever start to a ski season as snowmaking combined with healthy natural snowfall allowed us to open both Mount Snow and Wildcat in late October and kick off the 2018/2019 ski season with a strong start,” Timothy Boyd, President and CEO of Peak Resorts, said in a statement.

SKIS stock was up 3% as of noon Wednesday.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2018/12/peak-resorts-earnings-include-loss/.

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