vail resorts inc (MTN) Key Developments
Vail Resorts, Inc. Closes Acquisition of Perisher Ski Resort
Jul 1 15
Vail Resorts Inc. announced that the company has closed on the acquisition of its first international mountain resort, Perisher Ski Resort in New South Wales, Australia, for total cash consideration of AUD 176.2 million (approximately USD 134.8 million).
Vail Resorts Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended April 30, 2015; Reaffirms Earnings Guidance for the Year 2015; Declares Quarterly Cash Dividend, Payable on July 10, 2015
Jun 8 15
Vail Resorts Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended April 30, 2015. For the quarter, the company reported total net revenue of USD 579.343 million compared to USD 543.047 million a year ago. Income from operations was USD 227.752 million compared to USD 203.165 million a year ago. Income before provision for income taxes was USD 214.007 million compared to USD 187.546 million a year ago. Net income was USD 133.402 million compared to USD 117.866 million a year ago. Net income attributable to the company was USD 133.410 million compared to USD 117.946 million a year ago. Diluted net income per share attributable to the company was USD 3.56 compared to USD 3.18 a year ago.
For the nine months, the company reported total net revenue of USD 1,237.842 million compared to USD 1,119.158 million a year ago. Income from operations was USD 298.991 million compared to USD 211.756 million a year ago. Income before provision for income taxes was USD 258.432 million compared to USD 164.582 million a year ago. Net income was USD 184.778 million compared to USD 103.629 million a year ago. Net income attributable to the company was USD 184.896 million compared to USD 103.833 million a year ago. Diluted net income per share attributable to the company was USD 4.95 compared to USD 2.80 a year ago. Net debt as at April 30, 2015 was USD 511.535 million compared to USD 492.671 million a year ago.
The company reaffirmed its previous commentary on its guidance range for fiscal 2015, which does not include any impacts from the anticipated closing of the Perisher Ski Resort acquisition. The calendar year 2015 Epic Discovery capital plan is expected to total USD 17 million in anticipated spending which will result in approximately USD 6 million to USD 8 million of incremental Resort Reported EBITDA in calendar year 2016.
The board of directors of Vail Resorts Inc. declared a quarterly cash dividend on its common stock. The quarterly dividend will be USD 0.6225 per share of common stock and will be payable on July 10, 2015 to shareholders of record on June 25, 2015.
Vail Resorts Announces Retirement of Mark Schoppet, Senior Vice President and Controller and Chief Accounting Officer
Jun 3 15
Vail Resorts Inc. announced the planned retirement of Mark Schoppet, senior vice president and controller and chief accounting officer, effective upon the hiring of his replacement and the completion of a transition period. Mark has been with the company since 2004 and has been controller since 2005 and chief accounting officer since 2009. Prior to joining Vail, Mark had a 22-year career in public accounting, including as a partner for 10 years at Arthur Andersen, LLP. Following the appointment of his successor and a transition period, he plans to retire to the Vail area.
Vail Resorts Inc. Appoints David T. Shapiro as Executive Vice President and General Counsel, Effective July 13, 2015
Jun 1 15
Vail Resorts Inc. announced the hiring of David T. Shapiro as executive vice president and general counsel of the Company, effective July 13, 2015. Shapiro will oversee the Company's legal, governance and compliance efforts as well as its environmental programs, charitable giving and public affairs. Shapiro comes to Vail Resorts after a seven-year career in various executive positions at DaVita Healthcare Partners Inc., based in Denver. Since 2013, Shapiro has been the general counsel and senior vice president for DaVita's kidney care business, overseeing a 100-person team with direct responsibility for all of the division's legal work. Prior to that, he served as senior vice president and chief special counsel of DaVita from 2012-2013, with oversight over DaVita's most critical and complex litigation and regulatory efforts. From 2008-2013, Shapiro was senior vice president and chief compliance officer of DaVita, where he also oversaw the internal audit function. From 2003-2007, Shapiro worked as a trial attorney for the U.S. Department of Justice's Civil Frauds Section in Washington, D.C. Shapiro also worked as an attorney in private practice at the law firms of Pepper Hamilton LLP, Mintz Levin and Kelley Drye & Warren.
Vail Resorts Inc. to Report Q3, 2015 Results on Jun 08, 2015
May 14 15
Vail Resorts Inc. announced that they will report Q3, 2015 results at 9:00 AM, Eastern Standard Time on Jun 08, 2015