Core Insights - Vail Resorts (NYSE: MTN) has experienced a significant decline in share price, losing 30% over the past year due to a decrease in consumer discretionary spending [1] Financial Performance - The company reported solid Q2 results, which provided some relief to investors [1]

Vail Resorts, Inc. (NYSE:MTN) Q2 2025 Earnings Conference Call March 10, 2025 5:00 PM ET Company Participants Kirsten Lynch - CEO Angela Korch - EVP and CFO Conference Call Participants Shaun Kelley - Bank of America Merrill Lynch Jeff Stantial - Stifel Megan Clapp - Morgan Stanley Laurent Vasilescu - BNP Paribas Patrick Scholes - Truist Securities Chris Woronka - Deutsche Bank Ben Chaiken - Mizuho David Katz - Jefferies Matthew Boss - JPMorgan Arpine Kocharyan - UBS Brandt Montour - Barclays Operator Good ...

Core Insights - Vail Resorts exceeded earnings expectations in its fiscal 2025 second quarter, reporting diluted earnings per share of $6.56 against an estimate of $6.29, and revenue of $1.137 billion, slightly below the expected $1.139 billion [2][3] Financial Performance - The fiscal Q2 2025 results showed a 13.9% increase in diluted EPS from $5.76 in Q2 2024 to $6.56 [3] - Revenue increased by 5.5% year-over-year from $1.078 billion in Q2 2024 to $1.137 billion [3] - Net income rose by 12% to $246 million compared to $219 million in the previous year [3] - Resort reported EBITDA increased by 8.1% to $460 million from $425 million in Q2 2024 [3] Business Overview and Strategy - Vail Resorts operates 42 ski destinations across North America, Switzerland, and Australia, with a focus on generating income from lift tickets and ancillary services [4] - The company is expanding its global footprint through acquisitions and enhancing resort infrastructure to improve guest experiences [4] - Key success factors include optimizing season pass sales and increasing operational efficiency through cost-management efforts [4] Season Pass and Revenue Streams - Season pass products are a major revenue source, with a 4.1% sales increase despite a decrease in units sold [5] - The mountain segment's lift revenues grew by 6.9% to $644.9 million, driven by enhanced pass revenues and a 17.5% rise in non-pass revenue from Eastern U.S. resorts [6] Lodging Segment Challenges - The lodging segment faced a 4.3% revenue decline due to reduced destination skier visits and a decrease in managed condominium inventory [7] - Lodging reported EBITDA dropped significantly by 56.5%, highlighting vulnerability to changing guest visitation patterns [7] Strategic Initiatives and Future Outlook - Vail aims to achieve $100 million in annualized cost efficiencies by 2026 through its Resource Efficiency Transformation Plan [8] - The company maintained its quarterly dividend payout at $2.22 per share, emphasizing prudent financial oversight [8] - Management expects 2025 resort reported EBITDA to be between $841 million and $877 million, with net income projected in the range of $257 million to $309 million [9] Sustainability and Market Position - The company is focusing on infrastructure enhancement and eco-friendly initiatives, such as the Commitment to Zero by 2030, to improve brand appeal and align with consumer preferences for sustainable tourism [10]

Vail Resorts (MTN) came out with quarterly earnings of $6.56 per share, beating the Zacks Consensus Estimate of $6.29 per share. This compares to earnings of $5.76 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 4.29%. A quarter ago, it was expected that this ski resort operator would post a loss of $5.14 per share when it actually produced a loss of $4.61, delivering a surprise of 10.31%.Over the last four quarters, the compa ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-09614 Vail Resorts, Inc. (Exact Name of Registrant as Specified in Its Charter) (State or Other Jurisdiction of Incorporation or Organizati ...

Exhibit 99.1 Vail Resorts Contacts: Investor Relations: Jack McCarthy, (303) 404-1800, InvestorRelations@vailresorts.com Media: Sara Olson, (303) 404-6497, News@vailresorts.com Vail Resorts Reports Fiscal 2025 Second Quarter Results and Provides Updated Fiscal 2025 Guidance BROOMFIELD, Colo. - March 10, 2025 - Vail Resorts, Inc. (NYSE: MTN) today reported results for the second quarter of fiscal 2025 ended January 31, 2025 and provided the Company's ski season-to-date metrics through March 2, 2025. Highligh ...

Financial Performance - Vail Resorts, Inc. is expected to report second-quarter earnings of $6.32 per share, an increase from $5.76 per share in the same period last year [1] - The company projects quarterly revenue of $1.14 billion, compared to $1.08 billion a year earlier [1] Market Activity - Vail Resorts shares rose 0.2% to close at $157.51 [2] Analyst Ratings - JP Morgan analyst maintained an Underweight rating and reduced the price target from $176 to $166 [3] - Morgan Stanley analyst maintained an Equal-Weight rating with a price target of $197 [3] - Truist Securities analyst maintained a Buy rating but cut the price target from $250 to $247 [3] - Barclays analyst maintained an Underweight rating and raised the price target from $155 to $165 [3] Skier Visits - The company reported a 0.3% year-over-year decline in total skier visits for the season to date [1]

Core Viewpoint - Vail Resorts, Inc. (MTN) is expected to report strong fiscal second-quarter results, driven by increased season pass sales, favorable conditions, and strategic investments in various areas [1][4]. Financial Performance - The Zacks Consensus Estimate for fiscal second-quarter earnings per share (EPS) is $6.29, reflecting a 9.2% increase from $5.76 in the same quarter last year [3]. - Revenue expectations are set at $1.14 billion, indicating a 5.6% rise compared to the previous year [3]. Revenue Drivers - Strong season pass sales and improved early-season conditions at North American resorts are anticipated to boost performance [4]. - Growth in lift ticket revenues and ancillary businesses, including ski school and dining, is expected to contribute positively to the top line [4]. - The model predicts revenues from lift tickets, ski school, and dining to rise by 4.4%, 1.6%, and 32.1% year over year, respectively [6]. Mixed Performance Indicators - Total skier visits have declined by 0.3% year over year, but lift ticket revenues increased by 4.5% due to better weather and a stable season pass program [5]. - Ancillary revenues showed mixed results, with ski school and dining revenues up by 1.1% and 6.6%, while retail and rental revenues fell by 5.4% [5]. Lodging and Cost Management - Lodging performance is expected to be mixed, with total lodging revenues projected to rise 13.7% year over year to $88.5 million [7]. - The company's resource efficiency transformation plan aims for $100 million in annualized cost savings by fiscal 2026, contributing to margin stability [8]. Earnings Prediction - The model predicts an earnings beat for Vail Resorts, supported by a positive Earnings ESP of +1.64% and a Zacks Rank of 3 (Hold) [9][10].

Core Insights - Vail Resorts (MTN) is expected to report quarterly earnings of $6.29 per share, reflecting a 9.2% increase year-over-year, with revenues projected at $1.14 billion, a 5.6% increase from the previous year [1] Earnings Estimates - Changes in earnings estimates are crucial for predicting investor reactions, with empirical studies showing a strong correlation between earnings estimate revisions and short-term stock performance [2] - Analysts have maintained the consensus EPS estimate for the quarter over the past 30 days, indicating stability in projections [1] Revenue Projections - Analysts forecast 'Net Revenue- Mountain net revenue' to reach $1.05 billion, indicating a 5.1% year-over-year increase [4] - 'Net Revenue- Lodging net revenue' is expected to be $80.79 million, reflecting a 3.8% increase year-over-year [4] - 'Net Revenue- Resort net revenue' is projected at $1.13 billion, showing a 4.6% increase from the prior-year quarter [4] Detailed Revenue Breakdown - 'Net Revenue- Mountain net revenue- Lift' is estimated at $634.85 million, a 5.2% increase year-over-year [5] - 'Net Revenue- Mountain net revenue- Retail/rental' is expected to be $132.81 million, indicating a 2.5% decrease [5] - 'Net Revenue- Mountain net revenue- Dining' is projected to reach $94.91 million, reflecting a significant 15.7% increase [5] - 'Net Revenue- Mountain net revenue- Ski school' is estimated at $129.56 million, a 2.3% increase [6] - 'Net Revenue- Mountain net revenue- Other' is expected to be $55.99 million, indicating an 8.3% increase [6] Visitor and Revenue Metrics - The estimated 'Mountain - Total skier visits' is 7.27 thousand, slightly up from 7.26 thousand in the same quarter last year [7] - 'Lodging - Managed condominium statistics - RevPAR' is projected to reach $173.74, up from $164.43 in the same quarter last year [7] - 'Lodging - Owned hotel statistics - RevPAR' is expected at $142.31, compared to $140.65 a year ago [8] - 'Mountain - ETP' is projected to be $87.43, up from $83.08 in the same quarter last year [8] Stock Performance - Vail Resorts shares have returned -6.9% over the past month, compared to a -4.1% change in the Zacks S&P 500 composite [8] - The company holds a Zacks Rank 3 (Hold), suggesting it is expected to mirror overall market performance in the near future [8]

Core Insights - Vail Resorts is expanding access to Verbier 4 Vallées in Switzerland for the 2025/26 winter season, allowing all Epic Pass holders to enjoy five days of consecutive access [2][5] - The 2025/26 Epic Pass is currently available at the lowest price of the year, priced at $1,051 for adults and $537 for children, providing unlimited access to 42 owned resorts and partner resorts [6][8] - The company has invested over $2.5 billion in guest experience improvements over the past 15 years, focusing on innovations that enhance the skiing experience [10][12] Expansion of Access - All Epic Pass, Epic Local Pass, Epic Australia Pass, Epic Adaptive Pass, and Epic Australia Adaptive Pass holders will have access to Verbier 4 Vallées, which is Switzerland's largest ski area with 410 kilometers of runs [2][3] - Verbier 4 Vallées includes six unique resorts and offers a variety of experiences beyond skiing, such as culinary offerings and events [3][5] Pricing and Pass Options - The Epic Pass offers unlimited access to major resorts including Vail Mountain, Whistler Blackcomb, and Breckenridge, while the Epic Local Pass provides access to 29 resorts with some restrictions [6][8] - The Epic Day Pass allows customization for skiers and riders, providing significant savings compared to traditional lift ticket prices [7] Guest Experience Innovations - Vail Resorts has introduced several technological innovations such as Mobile Pass, My Epic Assistant, and My Epic Gear to enhance the guest experience [10][12] - The company has focused on reducing lift line wait times, achieving less than 3% occurrence of lift lines lasting more than 10 minutes during peak times [11] Future Developments - Additional investments are planned for the 2025/26 season, including the transformation of Park City Mountain's Canyons Village and the development of new lifts in Switzerland and Australia [12] - Vail Resorts aims to create unique experiences at each mountain resort, including culinary events and music festivals [12][13]