Vail Resorts revenues, visitors match disappointing snow season

BROOMFIELD — “Unfavorable conditions” — namely, lack of snow — at North American ski areas drove Vail Resorts Inc.’s (NYSE: MTN) year-over-year performance down in the second quarter.

The Broomfield resort has experienced a 9.7% decrease in season-to-date visitors to its mountains compared to last ski season.

Vail posted net sales of $1.08 billion in the second quarter, down from $1.1 billion in the same period of 2023. 

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Still, net income attributable to Vail Resorts Inc. was $219.3 million for the second quarter of 2024, up from $208.7 million in the same period in the prior year.

“Given the unfavorable conditions across our North American resorts, we are pleased that our results for the quarter demonstrate the resiliency of our strategic business model and our network of resorts and loyal guests,” Vail CEO Kirsten Lynch said in a prepared statement. “The results for the second quarter were negatively impacted by challenging conditions at all of our North American resorts, with approximately 42% lower snowfall across our western North American resorts through January compared to the same period in the prior year and limited natural snow and variable temperatures at our Eastern U.S. resorts.”

For the full 2024 fiscal year, Vail expects net attributable income to range between $270 million and $325 million.