Vail Resorts reports Q4 EPS ($4.67), consensus ($4.24)

Reports Q4 revenue $265.39M, consensus $264.54M. CEO Kirsten Lynch said, “Our overall results for the year highlight the stability and resilience of our advance commitment strategy. Skier visitation declined 9.5% compared to the prior year, driven by unfavorable conditions across our resorts in North America and Australia, combined with the impact of broader industry normalization post-COVID following record visitation in North America during the 2022/2023 ski season. In North America, snowfall across our western resorts was down 28% from the prior year and our eastern U.S. resorts experienced limited natural snow and variable temperatures…Q4 Resort Reported EBITDA declined from the prior year and expectations, primarily driven by underperformance in our Australian winter business. During the fourth quarter, snowfall at our Australian resorts declined 28% from the prior year and was 44% below the ten-year average. The challenging conditions, combined with softer demand heading into the winter season, negatively impacted Australian skier visitation, which declined 18% in the quarter relative to the prior year period. In our North America summer mountain business, while results underperformed our expectations, we were pleased to see 15% revenue growth versus prior year from fewer weather-related and construction-related disruptions.”