These Analysts Slash Their Forecasts On Vail Resorts After Weak Q3 Results

Vail Resorts, Inc. MTN reported weaker-than-expected results for its third quarter on Thursday.

The company posted quarterly earnings of $9.54 per share, missing market estimates of $10.03 per share. The company's sales came in at $1.28 billion versus expectations of $1.30 billion, according to data from Benzinga Pro.

Vail Resorts cut its forward guidance for full-year 2024. The company now expects Resort Reported EBITDA to be between $833 million and $851 million. The company expects net income attributable to Vail Resorts to be between $224 million and $256 million.

"The reduction relative to the guidance provided on March 11, 2024, is primarily from lift ticket visitation not returning to typical historical spring behavior as expected in the March and April period, primarily at Whistler Blackcomb, along with lowered expectations for the fourth quarter of $9 million primarily related to the demand outlook for our Australian resorts," said Kirsten Lynch, CEO of Vail Resorts.

Vail Resorts shares rose 0.6% to close at $193.95 on Thursday.

These analysts made changes to their price targets on Vail Resorts after the company reported quarterly results.

  • Mizuho cut the price target on Vail Resorts from $256 to $231. Mizuho analyst Ben Chaiken maintained a Buy rating.
  • Stifel lowered Vail Resorts price target from 262 to $259. Stifel analyst Jeffrey Stantial maintained a Buy rating on the stock.

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