By Connor Hart
Vail Resorts logged higher profit and revenue in its fiscal second quarter, as pass-product sales returned to growth and visitation at the company's results ticked higher.
The Broomfield, Colo., ski-resort operator on Monday posted a profit of $245.5 million for the quarter ended Jan. 31, compared with $219.3 million for the same period a year earlier.
Quarterly earnings were $6.56 on a per-share basis. Analysts polled by FactSet had forecast earnings of $6.29 a share.
Revenue increased 5.5% to $1.14 billion, in line with analyst expectations.
Total lift revenue rose 6.9% to $41.5 million, driven by higher pass and non-pass revenue. Non-pass revenue rose 18%, primarily due to increased visits across East Coast resorts, while pass-product revenue grew 3.2%, boosted by higher sales for the season, the company said.
Chief Executive Kirsten Lynch said that second-quarter visitation at North American resorts came in slightly ahead of year-ago levels, as better skiing conditions were partially offset by continued industry demand stabilization and a shift in visits toward later in the skiing season.
For its fiscal 2025, ended July 31, Vail said it now expects net income between $257 million and $309 million, compared with a prior projection of $240 million to $316 million.
The stock rose 5.9% to $162.51 in post-market trading, after falling to a 52-week low of $151.99 in the regular session. Shares are down 18% this year.
The report came as the company has faced a turbulent few months.
Last quarter, Vail sold fewer season lift tickets than the year prior. Then a 12-day ski-patrol strike over the recent holidays closed most runs at the company's largest U.S. resort in Park City, Utah, leaving hundreds of guests waiting on long lift lines, unable to ski most of the mountain and fuming on social media about ruined vacations. Afterwards, Late Apex Partners, whose funds currently own shares in the hospitality company, said in a January letter that Vail's performance over the last five years has been unacceptable and called for the ouster of several top executives.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
March 10, 2025 16:41 ET (20:41 GMT)
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