Vail Resorts (MTN) Tops Q2 EPS by 22c; Raises Dividend 30%

Vail Resorts (NYSE: MTN) reported Q2 EPS of $3.63, $0.22 better than the analyst estimate of $3.41. Revenue for the quarter came in at $725.2 million versus the consensus estimate of $710.91 million.

• Net income attributable to Vail Resorts, Inc. was $149.2 million for the second fiscal quarter of 2017, an increase of 27.5% compared to net income of $117.0 million for the second fiscal quarter of 2016.
• Resort Reported EBITDA was $305.2 million for the second fiscal quarter of 2017, which includes the operations of Whistler Blackcomb and $2.1 million of transaction, transition and integration costs associated with the Whistler Blackcomb acquisition. Excluding Whistler Blackcomb operations and transaction, transition and integration costs, Resort Reported EBITDA increased 6.5% compared to the same period in the prior year.
• The Company updated its fiscal 2017 guidance range and is now expecting Resort Reported EBITDA to be between $577 million and $597 million, including estimated operating results from Whistler Blackcomb as well as an estimated $9 million of related transaction, transition and integration costs.
• The Company's Board of Directors approved a 30% increase in the quarterly cash dividend to $1.053 per share from $0.81 per share beginning with the dividend payable on April 13, 2017 to stockholders of record as of March 29, 2017.
• On February 21, 2017, the Company announced that it entered into an agreement to acquire the mountain operations of Stowe Mountain Resort in Stowe, Vermont. The Company expects the acquisition to close in late spring.
• On February 24, 2017, the Company announced the 60-year renewal of Whistler Blackcomb's Master Development Agreements with the Province of British Columbia.

For earnings history and earnings-related data on Vail Resorts (MTN) click here.

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