By Kelly Cloonan
Vail Resorts narrowed its full-year profit guidance after it recorded fewer visits from lift ticket guests than expected during the spring ski season.
The ski-resort operator on Thursday said it now expects net income of $264 million and $298 million for the year, narrowing its prior outlook of $257 million to $309 million.
The new guidance reflects lower-than-expected visits from lift ticket guests in the spring and a one-time cost of about $9 million related to the company's move to name a new chief executive officer.
Rob Katz returned to Vail Resorts last month to assume the CEO position again, succeeding Kirsten Lynch, after the company contended with a ski-patrol strike during the New Year's holiday and lower sales of its season lift tickets.
For the latest quarter Vail posted a profit of $392.8 million, compared with $362 million for the same period a year earlier. The company recorded adjusted earnings per share of $10.54, above the $10.04 expected by analysts polled by FactSet.
Revenue rose 1% to $1.3 billion and was in line with analyst estimates.
Total lift sales rose 3.3% to $770.3 million, driven by an increase in pass product revenue due to higher prices. Non-pass product lift revenue was flat.
Write to Kelly Cloonan at kelly.cloonan@wsj.com
(END) Dow Jones Newswires
June 05, 2025 17:17 ET (21:17 GMT)
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