Last $76.55 USD
Change Today -0.56 / -0.73%
Volume 10.3K
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As of 10:36 AM 07/25/14 All times are local (Market data is delayed by at least 15 minutes).

vail resorts inc (MTN) Key Developments

Vail Resorts Inc. Announces Consolidated Unaudited Earnings Results for the Third Quarter and Nine Months Ended April 30, 2014; Provides Earnings Guidance for the Full Year Ending July 31, 2014

Vail Resorts Inc. announced consolidated unaudited earnings results for the third quarter and nine months ended April 30, 2014. For the quarter, the company reported total net revenues of $543,047,000 compared with $469,691,000 for the same period a year ago. Income from operations was $203,165,000 compared with $165,342,000 for the same period a year ago. Income before provision for income taxes was $187,546,000 compared with $157,402,000 for the same period a year ago. Net income attributable to Vail Resorts Inc. was $117,946,000 or $3.18 per diluted share compared with $97,640,000 or $2.66 per diluted share for the same period a year ago. Total Reported EBITDA was $238,784,000 compared with $199,562,000 for the same period a year ago. For the nine months, the company reported total net revenues of $1,119,158,000 compared with $1,008,492,000 for the same period a year ago. Income from operations was $211,756,000 compared with $181,006,000 for the same period a year ago. Income before provision for income taxes was $164,582,000 compared with $156,843,000 for the same period a year ago. Net income attributable to Vail Resorts Inc. was $103,833,000 or $2.80 per diluted share compared with $97,611,000 or $2.66 per diluted share for the same period a year ago. Total Reported EBITDA was $319,825,000 compared with $281,389,000 for the same period a year ago. Net debt was $492,671,000 compared with $252,023,000 for the same period a year ago. The company provided earnings guidance for the full year ending July 31, 2014. For the year, the company expects to report total reported EBITDA in the range of $258,000,000 to $266,000,000, depreciation and amortization in the range of $141,000,000 to $139,000,000, interest expense in the range of $65,000,000 to $64,000,000, income before provision for income taxes in the range of $40,500,000 to $52,100,000, net income in the range of $25,800,000 to $33,100,000 and net income attributable to Vail Resorts Inc. in the range of $26,000,000 to $33,500,000.

Vail Resorts Inc. to Redeem 6.50% Senior Subordinated Notes; Declares Quarterly Cash Dividend, Payable on July 8, 2014

Vail Resorts Inc. announced that it has provided a notice to the trustee to redeem $175 million of its $390 million in outstanding principal amount of 6.50% Senior Subordinated Notes on July 7, 2014, the redemption date, using available cash on hand. The company will pay a 4.875% call premium and expects to record a loss on extinguishment of debt in its fourth quarter fiscal 2014 of approximately $10.8 million including a write-off of unamortized debt issuance costs. This will save approximately $11.4 million in annual interest expense. After the partial redemption, $215 million of the 6.50% Senior Subordinated Notes will remain outstanding. The company announced that its board of directors has declared a quarterly cash dividend on the company’s common stock. The quarterly dividend will be $0.4150 per share of common stock and will be payable on July 8, 2014 to shareholders of record on June 23, 2014.

Vail Resorts Inc. to Report Q3, 2014 Results on Jun 05, 2014

Vail Resorts Inc. announced that they will report Q3, 2014 results at 5:00 PM, Eastern Standard Time on Jun 05, 2014

Vail Resorts Inc., Q3 2014 Earnings Call, Jun 05, 2014

Vail Resorts Inc., Q3 2014 Earnings Call, Jun 05, 2014

John M. Garnsey to Retire as President of Global Mountain Development of Vail Resorts, Inc., Effective May 1, 2015

Vail Resorts Inc. announced that John M. Garnsey, president of the company's global mountain development, has decided to retire following the 2015 Vail/Beaver Creek World Alpine Ski Championships, which he helped to bring back to the Vail Valley for a third time. Garnsey will be retiring effective May 1, 2015.

 

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MTN

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Valuation MTN Industry Range
Price/Earnings 65.6x
Price/Sales 2.3x
Price/Book 3.1x
Price/Cash Flow 15.3x
TEV/Sales 1.4x
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