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Vail Earnings: MTN Stock Jumps 3% Despite Missing Q4 Estimates

Vail Resorts (NYSE:MTN) earnings for the resort company’s fiscal fourth quarter of 2020 have MTN stock climbing after-hours Thursday. That’s due to its diluted losses per share of $3.82 missing Wall Street’s estimate for a loss of $3.43. Its revenue of $77.21 million also couldn’t reach analysts’ estimate of $140.94 million.

Skis basking in the sun atop a snow-covered mountain.
Source: Shutterstock

Now, let’s look more thoroughly at what went wrong during the most recent Vail earnings report.

  • Diluted per-share losses are 72.1% wider compared to a loss of $2.22 reported during the same time last year.
  • Revenue for the quarter comes in 68.4% lower than the $244.01 million reported in fiscal Q4 2019.
  • Operating loss of $170.05 million is 41% worse year-over-year than $120.58 million.
  • The Vail earnings report also has its net loss sitting at $153.61 million.
  • That’s a 71.6% wider net loss than the $89.53 million reported in the same period of the year prior.

Rob Katz, CEO of Vail, said this in the earnings report.

“Our results for the full year were negatively impacted by COVID-19 and the resulting closure of our North American destination mountain resorts and regional ski areas beginning on March 15, 2020 for the safety of our guests, employees and resort communities. In addition, Resort Reported EBITDA for the year was negatively impacted by the deferral of approximately $118 million of pass product revenue and related deferred costs to fiscal 2021 as a result of pass holder credits offered to 2019/2020 North American pass holders to encourage renewal for the 2020/2021 season.”

Vail isn’t offering guidance for fiscal 2021 at this time due to the novel coronavirus.

MTN stock was up 2.5% after markets closed on Thursday.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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