Vail Resorts, Inc. (NYSE: MTN) stock is soaring on Friday, March 12, 2021, after the company announced its financial results for the second quarter of fiscal 2021 ended January 31, 2021. At closing on Thursday, the share price reached $305.48 and it is further increasing by 9.66% in the pre-market trading today. Let’s have a brief look at their financial results.
- The company had a net income of was $147.8 million for the second fiscal quarter of 2021. The net income decreased due to the pandemic.
- For the second fiscal quarter of 2021, the Reported EBITDA was $276.1 million.
- Company maintained significant liquidity with $1.4 billion of cash on hand as of February 28, 2021, and $597 million of availability under our U.S. and Whistler Blackcomb revolving credit facilities
Financial outlook for 2021
The company provided guidance for the nine months ending April 30, 2021and said that they are net income to be between $204 million and $247 million and Resort Reported EBITDA is expected to be between $560 million and $600 million.
Recent business updates
- On Feb 11 2021, Forbes named Vail Resorts to its “America’s Best Large Employers” list, for the fifth consecutive time. The survey of 50,000 employees across various industries was done by Forbes.
- On Feb. 8, 2021, Vail Resorts announced renewals of strategic partnerships with eight iconic and innovative companies including PepsiCo, GMC, and Helly Hansen as well as a new partnership with the premier sports equipment shipping service Luggage Forward.
About the company:
Vail Resorts, Inc. is an American mountain resort company and it has 3 divisions. The mountain segment, Vail Resorts Hospitality, and the Vail Resorts Development Company. The company has a long history in the ski industry going back up to 1962, with the opening of Vail Mountain. At the moment the company operates 37 resorts in 15 states and three countries company trades on the New York Stock Exchange, symbol MTN. The company is headquartered in Broomfield, Colorado.