Vail Resorts (NYSE:MTN) earnings for the vacation location company’s fiscal second quarter of 2020 have MTN stock taking a beating after-hours Monday. This is due to its diluted earnings per share (EPS) of $5.04 completely missing Wall Street’s estimate of $5.46. Its revenue of $924.64 million also fails to reach analysts’ estimates of $953.65 million.
Here’s are some additional details worth mentioning from the most recent Vail Resorts earnings report.
- Diluted per-share earnings are up slightly from the $5.02 in the same period of the year prior.
- Revenue for the quarter comes in 8.83% higher than $849.58 million in the fiscal second quarter of 2019.
- Operating income of $310.73 million is a 2.94% increase year-over-year from $301.85 million.
- The Vail Resorts earnings report also has net income coming in at $217.02 million.
- That’s a marginal decrease compared to its net income of $217.99 million during the same time last year.
Rob Katz, Chief Executive Officer of Vail Resorts, provided the following update to investors in MTN stock.
“Given the uncertainty surrounding the impact of the coronavirus on the broader U.S. travel market and any specific impact to the performance of our Company, we are not issuing guidance at this time for fiscal 2020 and are withdrawing our previous guidance issued on January 17, 2020. In the week ended March 8, 2020, we saw a marked negative change in performance from the prior week, with destination skier visits modestly below expectations. We expect this trend to continue and potentially worsen in upcoming weeks.”
MTN stock closed the trading day down 7.42%, and was down 10.71% after-hours Monday.
As of this writing, William White did not hold a position in any of the aforementioned securities.
