Vail Resorts (MTN) has issued financial results that missed Wall Street’s targets on the top and bottom lines.
The company announced an earnings per share (EPS) loss of $4.67 U.S., which was worse than the loss of $4.22 U.S. that analysts had estimated.
Revenue in what was Vail Resorts’ fiscal fourth quarter came in at $265.39 million U.S., which was also below consensus forecasts of $266.94 million U.S.
Management blamed the poor showing on a 10% decline in skier visits at its resorts, which include Whistler Blackcomb in British Columbia.
Unusually warm weather this spring cut the ski season short across the U.S. and Canada, hurting the company’s finances.
Looking ahead, Vail Resorts said it expects a return to normal weather conditions this winter after the challenging conditions experienced over the last year.
Additionally, Colorado-based Vail Resorts has closed its acquisition of the Crans Montana ski centre in Switzerland.
The company said that the addition of the Swiss resort should boost its financial results in coming years.
The stock of Vail Resorts has declined 11% so far in 2024 and currently trades at $187.95 U.S. per share.
