Peak Resorts SKIS shares are trading higher after the company reported better-than-expected fourth-quarter earnings and sales results.
The company reported quarterly earnings of 83 cents per share, which beat the analyst consensus estimate of 55 cents. This is a 48.21% increase over earnings of 56 cents per share from the same period last year.
Peak Resorts reported quarterly sales of $85.458 million, which beat the analyst consensus estimate of $76.23 million. This is a 52.52% increase over sales of $56.032 million the same period last year.
"2019 was a record year for Peak Resorts as we completed several transformational initiatives that drove robust year over year growth," said President and CEO Timothy Boyd. "We also delivered double-digit growth across our season pass offerings, saw continued strength across key revenue streams including food and beverage, ski school and retail, and benefited from our geographic and market diversification and ongoing customer outreach initiatives."
Peak Resorts shares traded higher by 11.5% at $4.41 Thursday afternoon.
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