Categories AlphaGraphs, Earnings, LATEST, Other Industries
Vail Resorts, Inc. Q2 2018 earnings snapshot
Mountain resort company Vail Resorts reported positive top and bottom line results for the second quarter. Profit was driven by a one-time tax benefit of about $64.6 million or $1.55 per share, which lifted earnings by 57.9% year-over-year to $235.7 million or $5.67 per share.
The company’s total net revenue for the quarter inched up 1.28% to $734.5 million compared to $724 million a year ago. The company said its resort reported EBITDA increased 1.21% year-over-year to $308.9 million, which includes the operations of Stowe and $1.4 million of acquisition and integration related expenses.
Dividend
Vail Resorts Board of Directors approved a 40% increase in its quarterly cash dividend to $1.47 per share from $1.053 per share, payable on April 11, 2018.
Outlook
The company updated its fiscal 2018 guidance range and now expects resort reported EBITDA to be between $607 million and $627 million. Fiscal 2018 real estate reported EBITDA is expected to be between negative $8 million and negative $2 million. Net income attributable to the company is seen between $357 million and $391 million in fiscal 2018.
Most Popular
United Parcel Service (UPS) seems on track to regain lost strength
Cargo giant United Parcel Service, Inc. (NYSE: UPS) ended fiscal 2023 on a weak note, reporting lower revenues and profit for the fourth quarter. The company experienced a slowdown post-pandemic
IPO Alert: What to look for when Boundless Bio goes public
Boundless Bio is preparing to debut on the Nasdaq stock market this week, and become the latest addition to the list of biotech firms that have launched IPOs this year.
Nike (NKE) bets on innovation and partnerships to return to high growth
Sneaker giant Nike, Inc. (NYSE: NKE) has been going through a rough patch for some time, with sales coming under pressure from weak demand and rising competition. Post-pandemic, the company