The most recent Vail Resorts earnings report is sending MTN stock down on Friday.
Vail Resorts (NYSE:MTN) reported losses per share of $2.66 for its fiscal first quarter of 2019. This is worse off than the company’s losses per share of 71 cents from its fiscal first quarter of 2018. It was also a blow to MTN stock by missing Wall Street’s losses per share estimate of $2.47 for the period.
Net loss reported in the Vail Resorts earnings report for its fiscal first quarter of the year was $107.80 million. The company’s net loss from the same period of the year prior was $28.40 million.
According to Vail Resorts, the company saw a wider net loss during the quarter due to a couple of factors. The first is $4.9 million in connection to acquisition and integration expenses. The second is $3.6 million from off-season operations at resorts acquired during the quarter.
Operating loss reported in the Vail Resorts earnings report for its fiscal first quarter of the year came in at $127.60 million. This is a wider operating loss than the $103.72 million that was reported in its fiscal first quarter of the previous year.
The Vail Resorts earnings report for its fiscal first quarter of 2019 also includes revenue of $220.00 million. This is mostly in line with the company’s revenue of $220.85 million reported during the same time last year. However, it was bad news for MTN stock by coming in below analysts’ revenue estimate of $234.47 million for the quarter.
MTN stock was down 16% as of Friday afternoon.
As of this writing, William White did not hold a position in any of the aforementioned securities.