(1) The provision for income taxes may be impacted by excess tax benefits primarily resulting from vesting and exercises of equity awards. Our estimated provision for income taxes does not include the impact, if any, of unknown future exercises of employee equity awards, which could have a material impact given that a significant portion of our awards are in-the-money.
(2) Our guidance includes certain estimated changes in the fair value of the contingent consideration based on the passage of time, updated financial projections and changes in market factors used to derive the estimate. Separately, the intercompany loan associated with the Whistler Blackcomb transaction requires foreign currency remeasurement to Canadian dollars, the functional currency of Whistler Blackcomb. Our guidance excludes any forward looking change related to foreign currency gains or losses on the intercompany loans, which such change may be material.
Vail Resorts on Thursday updated its guidance range for the nine-month period ending April 30, 2021.
The company now expects net income attributable to Vail Resorts, Inc. to be between $258 million and $280 million and Resort Reported EBITDA (earnings before interest, taxes, depreciation and amoritization) to be between $636 million and $650 million.
“We are increasing our guidance primarily as a result of stronger than expected performance in March and April,“ said Vail Resorts CEO Rob Katz in a news release. ”Despite the challenging operating environment as a result of COVID-19 related limitations, our results continued to improve as the season progressed, primarily driven by the performance of our Colorado and Utah resorts where visitation, including lift ticket purchases, exceeded expectations.“
Sat, 03/13/2021 - 3:19am tim
Vermont Business Magazine Vail Resorts, Inc (NYSE: MTN), the owner of Mount Snow, Okemo and Stowe Mountain resorts in Vermont, has reported results for the second quarter of fiscal 2021 ended January 31, 2021 and provided the Company s ski season-to-date metrics through March 7, 2021, both of which were negatively impacted by COVID-19 and related limitations and restrictions. Revenues across the board were down, especially in the retail/rental segment, but overall skier visits and lift revenue overall down less than 9 percent. Separate resort information was not available.
Vail still has $1.4 billion of cash on hand. Total net revenue decreased $240.0 million, or 26.0%, to $684.6 million for the three months ended January 31, 2021, as compared to the same period in the prior year. Investment in Okemo will include upgrading the Quantum lift from a four-person to a six-person high speed chairlift and relocating the existing four-person Quant
Operator
Good day, and welcome to the Vail Resorts second-quarter 2021 earnings call. [Operator instructions] Today s conference is being recorded. At this time, I would like to turn the conference over to CEO Robert Katz. Please go ahead, sir.
Rob Katz
Chief Executive Officer
Thank you. Good afternoon, everyone. Welcome to our fiscal 2021 second-quarter earnings conference call. Joining me on the call this afternoon is Michael Barkin, our chief financial officer.
Before we begin, let me remind you that some information provided during this call may include forward-looking statements that are based on certain assumptions that are subject to a number of risks and uncertainties as described in our SEC filings, and actual future results may vary materially. Forward-looking statements in our press release issued this afternoon, along with our remarks on this call are made as of today, March 11, 2021, and we undertake no duty to update them as actual events unfold. Today s remark
Vail Resorts Reports Fiscal 2021 Second Quarter Results and Provides Outlook for Fiscal 2021 Third Quarter
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BROOMFIELD, Colo., March 11, 2021 /PRNewswire/ Vail Resorts, Inc. (NYSE: MTN) today reported results for the second quarter of fiscal 2021 ended January 31, 2021 and provided the Company s ski season-to-date metrics through March 7, 2021, both of which were negatively impacted by COVID-19 and related limitations and restrictions.
Highlights
Net income attributable to Vail Resorts, Inc. was $147.8 million for the second fiscal quarter of 2021, a decrease of 28.4% compared to the second fiscal quarter of 2020, primarily as a result of the negative impacts of COVID-19.