Thu, Sep 26, 8:11 PM (86 days ago)
Vail Resorts, Inc. reported a net income of $230,405,000 for the fiscal year ended July 31, 2024, down from $268,148,000 in the prior year. Total revenue slightly declined to $2,885,191,000, driven by a challenging ski season with a 9.5% decrease in skier visits, largely due to unfavorable weather conditions. The Mountain segment generated revenue of $2,544,370,000, with lift revenue showing a modest increase of 1.5% despite a drop in non-pass revenue. Operating expenses rose to $2,065,964,000, influenced by inflationary pressures and increased general administrative costs. However, disciplined cost management led to a decrease in labor costs. The Lodging segment experienced an increase in Reported EBITDA to $23,018,000, attributed to lower labor costs and improved guest spending in dining. The company’s long-term debt stood at $2.8 billion, with a Net Debt of $2.5 billion. Vail Resorts plans to invest approximately $216 million in capital expenditures for 2024, focusing on enhancements across its resorts. The acquisition of Crans-Montana for $106.8 million is expected to enhance the company's offerings. Future risks include economic conditions, weather variability, and competition within the leisure and travel sectors.