Vail Resorts (NYSE:MTN) earnings for the ski resort company’s fiscal first quarter of 2020 are out and MTN stock is heading higher. This is thanks to its losses per share of -$2.64 for the quarter. That beats out Wall Street’s estimate of -$2.98 per share. Revenue of $267.77 million is also above analysts’ estimates of $255.68 million.
Let’s take a closer look at the most recent Vail Resorts earnings report.
- Per-share losses are close to 1% better than the -2.66 from the same time last year.
- Revenue comes in 21.71% higher than the $220 million reported in the fiscal first quarter of 2019.
- Operating loss of -$135.53 million is 6.25% wider YoY than -$127.56 million.
- The Vail Resorts earnings report also includes a net loss of -$109.83 million.
- That’s an almost 1% improvement over its net loss of -$110.73 million in the fiscal first quarter of the previous year.
Rob Katz, CEO of Vail Resorts, says this about the MTN stock earnings.
“The quarter’s results are primarily driven by winter operating results from our Australian resorts and our North American resorts’ summer activities, dining, retail/rental and lodging operations, and administrative expenses. Our Australian resorts had strong performance during the quarter with another record year at Perisher (on an Australian dollar basis) and very strong results in our first year of operations at Falls Creek and Hotham.”
MTN stock was up 3.13% in after-hours trading on Monday.
As of this writing, William White did not hold a position in any of the aforementioned securities.