Vail Resorts reports Q1 EPS ($3.40), consensus ($3.43)

Reports Q1 revenue $279.4M, consensus $255.07M. CEO Kirsten Lynch said, "Our Q1 historically operates at a loss, given that our North American and European mountain resorts are generally not open for ski season operations during the period. The quarter’s results are primarily driven by winter operating results from our Australian resorts and our North American resorts’ summer activities, dining, retail/rental and lodging operations, and administrative expenses. We are pleased with our results for the quarter, with Resort Reported EBITDA improving compared to the prior year period primarily driven by the strong demand and visitation at our Australian resorts… Our North American summer operations continued to recover following the COVID-19 pandemic….Heading into the 2022/2023 North American ski season, we are pleased with our significant base of committed guests that provide meaningful stability for our Company, especially during economic uncertainty…Looking forward, we are pleased with lodging booking trends for the upcoming season, which are consistent with pre-COVID-19 levels. We are also seeing lodging bookings that indicate visitation patterns may shift this year from the December holiday period into January through April."