Vail Resorts Q4 Loss Narrows

(RTTNews) - Vail Resorts, Inc. (MTN) reported fourth-quarter net loss of $108.7 million or $2.70 per share, narrower than last year's loss of $140.8 million or $3.49 per share.

Net revenues for the fourth quarter was $267.1 million, up from $204.2 million last year.

Analysts polled by Thomson Reuters estimate loss of $2.92 per share and revenues of $262.64 million.

Commenting on fourth-quarter results, CEO Kirsten Lynch said, "Performance in the fourth quarter of fiscal year 2022 improved significantly from the prior year driven by strong demand and visitation at our Australian resorts and the continued recovery in our North American summer operations following the start of the COVID-19 pandemic. Our Australian resorts experienced record visitation, driven by strong demand following two years of COVID-19 related disruptions, continued momentum in advance commitment pass product sales following the addition of Hotham and Falls Creek in April 2019, and favorable early season conditions that continued throughout the quarter."

Looking forward to the full year 2023, the company expects net income of $321.0 million to $396.0 million.