Vail Resorts (NYSE: MTN) reported Q4 EPS of ($4.67), $0.45 worse than the analyst estimate of ($4.22). Revenue for the quarter came in at $265.39 million versus the consensus estimate of $266.94 million.

GUIDANCE

The Company is providing its initial guidance for the year ending July 31, 2025 and expects net income attributable to Vail Resorts, Inc. to be between $224 million and $300 million for fiscal 2025. The Company expects Resort Reported EBITDA for fiscal 2025 to be between $838 million and $894 million, including an estimated $15 million in one-time costs related to the multi-year resource efficiency transformation plan and an estimated $1 million of acquisition and integration related expenses specific to Crans-Montana. As compared to fiscal 2024, fiscal 2025 guidance includes the assumed benefit of a return to normal weather conditions after the challenging conditions in fiscal 2024, more than offset by a return to normal operating costs and the impact of the continued industry normalization, impacting demand. Additionally, the guidance reflects the negative impact from the record low snowfall and related shortened season in Australia in the first quarter of fiscal 2025, which is expected to result in a $10 million decline of Resort Reported EBITDA compared to the prior year period. After considering these items, we expect Resort Reported EBITDA to grow from price increases and ancillary spending, the resource efficiency transformation plan, and the addition of Crans-Montana for the full year. At the midpoint, the guidance implies an estimated Resort EBITDA Margin for fiscal 2025 to be approximately 28.6%, or 29.1% before one-time costs from the resource efficiency transformation plan and integration expenses.

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