Skier visitation from lift ticket guests was down 17% compared with the prior year period, but total net revenue for the company increased 3.6% to nearly $1.3 billion for the three-month period that ended April 30.
Vail Resorts has been attempting to move guests away from walk-up lift ticket sales and into pre-purchased passes in recent decades, and that strategy seems to have worked better than intended in 2023-24. Company officials.
Vail Resorts shares are sliding in Thursday's after-hours session on the heels of the company's fiscal third-quarter financial results. Vail Resorts missed analyst estimates on the top and bottom lines.
Luxury ski resort company Vail Resorts (NYSE:MTN) missed analysts' expectations in Q1 CY2024, with revenue up 3.6% year on year to $1.28 billion. It made a GAAP profit of $9.54 per share, improving from its profit of $8.18 per share in the same quarter last year.