Vail Resorts (NYSE:MTN) saw its shares surge around 8% intra-day today after delivering fiscal second-quarter earnings that exceeded expectations. The ski resort operator benefited from its season pass program, improved guest experience investments, and strong operational execution across its properties.
For the quarter, Vail Resorts posted adjusted earnings per share of $6.56, surpassing analyst forecasts of $6.30. Revenue reached $1.14 billion, marking a 5.5% year-over-year increase and aligning with consensus estimates.
The company reported an 8% rise in Resort Reported EBITDA, which climbed to $459.7 million compared to the prior year. A steady increase in skier visits helped support the growth, with improved weather conditions mitigating broader industry demand normalization. However, destination guest visitation at western North American resorts saw a decline, as shifting travel patterns pushed demand later in the ski season.
Looking ahead, Vail Resorts provided a fiscal 2025 outlook that projects net income between $257 million and $309 million. Resort Reported EBITDA is expected to range between $841 million and $877 million.