Vail Resorts misses revenue forecasts
By Associated Press
BROOMFIELD, Colo. — Vail Resorts Inc. today reported a fiscal first-quarter loss of $64.3 million.
On a per-share basis, the Broomfield, Colo.-based company said it had a loss of $1.77. Losses, adjusted for non-recurring gains, came to $2.05 per share.
The results met Wall Street expectations. The average estimate of analysts surveyed by Zacks Investment Research was also for a loss of $2.05 per share.
The ski resort operator posted revenue of $128.3 million in the period, which missed Street forecasts. Analysts expected $133 million, according to Zacks.
Vail Resorts shares have increased 22 percent since the beginning of the year. The stock has risen 22 percent in the last 12 months.
Is Vail headed in the same direction as Caesars ? Vail has been buying, buying and buying. And some reports say snowboarding is slowing down. Will skiing be able to support Vail ?
22% increase in share price over the last 12 months sure beats S&P 500 and comparable benchmarks. Vail is becoming like the PG&E of ski areas, slowly approaching monopoly status.