Vail Resorts posts $149.8M profit for fiscal year

BROOMFIELD — Vail Resorts Inc. (NYSE: MTN) on Monday announced net income of $149.8 million for its fiscal year that ended July 31, up from $114.8 million the year before.

The yearly figure for the Broomfield-based operator of ski resorts was tempered by a $65.3 million loss for the fourth quarter that fell short of analyst expectations. Vail shares had dipped 3 percent to $155.83 by late afternoon Monday.

The fiscal-year profit amounted to $4.01 per share, up from $3.07 per share the year before. It came on revenue of $1.6 billion, an increase from $1.4 billion. The quarterly loss amounted to $1.80 per share and was compared with a loss of $70.1 million, or $1.92 per share, a year earlier. Quarterly revenue came in at $179.9 million.

For the full year, Vail CEO Rob Katz said, strength in Colorado, the Tahoe area in California and Nevada, and Utah all helped drive Vail’s growth. Season Pass revenue was up 21.5 percent, and summer programs at the Vail and Heavenly resorts added to visitation and revenue in the fourth quarter. Lodging revenue, meanwhile, climbed 7.9 percent and ancillary businesses like ski school and dining were also up by double-digit percentages.

Vail officials said the acquisition of Whistler Blackcomb — the largest resort in North America — is still on track to be finalized this fall. The company issued guidance for the 2017 fiscal year of $480 million to $510 million in earnings before interest, taxes, depreciation and amortization.


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