Monday was a relatively quiet day on the earnings side with only one big-name, dividend-paying company announcing their quarterly earnings. Below, we look at the earnings report and break down the important points for investors.
Vail Resorts Misses Q3 Estimates
Vail Resorts (MTN ) reported worse-than-expected earnings on Monday with an Earnings Per Share (EPS) of $3.56. This was 18 cents a share below the initial analyst forecasts for the quarter. EBITDA saw an increase of 10.9% versus the corresponding period with net income at $133.4 million.
Revenue for the resorts and casinos provider was also unable to match consensus estimates, with $579 million reported. Analysts had predicted $595.7 million. Changes were seen in lift revenues with a 13.2% rise in fiscal 2015 and a slight fall in the total number of skiers overall.
Confirming the completion of the Perisher ski resort acquisition, CEO Rob Katz expects the new acquisition to add $16 million of EBITDA to the company’s bottom line. Vail Resorts was also issued during the quarter with Epic Discovery development approval, which could translate into $6 to $8 million additional EBITDA. Dividend yield for the stock is 2.34% based on Friday’s close with an annual payout of $2.49 per share.