Vail Resorts, Inc. (NYSE: MTN), a leading global mountain resort operator, reported its financial results for the third quarter of fiscal 2018. Shares of the company increased 4.21% in the afternoon trading hours on Thursday.
For the third quarter of fiscal 2018, revenue increased 6.3% to $844.5 million, beating analysts’ estimates of $823.8 million. Net profit for the quarter increased from $181.1 million, or $4.40 per share, for the same period last year, to $256.3 million, or $6.17 per share, compared with analysts’ estimates of $252.8 million, or $6.18 per share.
In addition, EBITDA for the third quarter increased from $387.0 million to $423.4 million.
“We are pleased with our performance in the quarter and for the full 2017/2018 North American ski season, particularly given the challenging weather conditions across the western U.S. for much of the season. Our performance demonstrates the resiliency of our business model, the stability provided by our geographically diverse resort network and the importance of increased advanced purchase products, including our season passes,” Rob Katz, the chief executive officer of the company, said in the statement on Thursday.
“Given our performance to date this year, we expect that our fiscal 2018 Resort Reported EBITDA will finish the year between $612 million and $622 million, an increase of 3.1% to 4.8% compared to the prior year. Our fiscal 2018 Resort Reported EBITDA guidance includes an estimated $10.2 million of acquisition and integration related expenses,” Rob said.