Vail Resorts Reports Mixed Q2 Earnings
Vail Resorts (NYSE: MTN) released its fiscal second-quarter earnings results on Wednesday after the closing bell. The company missed earnings per share estimates for the quarter, but posted sales that were ahead of Wall Street expectations. In after-hours trading, Vail Resorts was last up a little less than 2 percent to $57.65.
Net income for the second-quarter was $60.5 million or $1.65 per share, compared to $46.4 million or $1.27 per share, in last year's corresponding quarter. This missed Wall Street analysts' consensus EPS estimates of $1.70.
Sales in the quarter were $422.45 million, an increase versus the $373.33 million the company reported last year. This easily beat analysts' consensus revenue expectations of $414.13 million.
Vail Resorts also announced that its board has authorized a 10 percent increase in its quarterly cash dividend to $0.2075 from $0.1875.
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