Vail Resorts Stock Slides On Q3 Earnings: What You Need To Know
Portfolio Pulse from Adam Eckert
Vail Resorts Inc (NYSE:MTN) shares fell in after-hours trading following the release of its fiscal Q3 earnings. The company reported revenue of $1.28 billion, missing estimates of $1.3 billion, and EPS of $9.54, below the expected $10.03. Despite a 3.6% year-over-year revenue increase, the company cut its forward guidance for full-year 2024 due to lower-than-expected lift ticket visitation and reduced demand at its Australian resorts.
June 06, 2024 | 8:41 pm
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Vail Resorts Inc (NYSE:MTN) shares dropped 5.39% in after-hours trading following a Q3 earnings miss. The company reported revenue of $1.28 billion, below the $1.3 billion estimate, and EPS of $9.54, missing the $10.03 estimate. Despite a 3.6% year-over-year revenue increase, the company cut its forward guidance for full-year 2024 due to lower-than-expected lift ticket visitation and reduced demand at its Australian resorts.
The earnings miss and reduced forward guidance are likely to negatively impact investor sentiment in the short term. The company's revenue and EPS both fell short of estimates, and the cut in forward guidance indicates potential challenges ahead, particularly with lower-than-expected lift ticket visitation and reduced demand at Australian resorts.
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