Vail Resorts Inc. to Invest $50 Million
Dec 8 14
Vail Resorts Inc. announced that a new high-speed gondola is set to be built this summer to connect two Utah ski resorts. The lift connecting Park City Mountain Resort and Canyons Resort is the key part of $50 million in investments planned at the two resorts ahead of the 2015-2016 ski season. Other plans include making two other lifts bigger and faster, building one new restaurant and upgrading two others, and improving snowmaking.
Vail Resorts Inc. Declares Quarterly Cash Dividend, Payable on January 12, 2015
Dec 8 14
The Board of Directors of Vail Resorts Inc. has declared a quarterly cash dividend of $0.4150 per share of common stock and will be payable on January 12, 2015 to shareholders of record on December 29, 2014.
Vail Resorts Inc. Announces Unaudited Consolidated Earnings Results for the First Quarter Ended October 31, 2014; Reaffirms Earnings Guidance for 2015
Dec 8 14
Vail Resorts Inc. announced unaudited consolidated earnings results for the first quarter ended October 31, 2014. For the quarter, the company reported total net revenue of $128,262,000 compared to $123,391,000 a year ago. Loss from operations was $88,832,000 compared to $102,104,000 a year ago. Loss before benefit from income taxes was $102,101,000 compared to $117,504,000 a year ago. Net loss attributable to the company was $64,276,000 or $1.77 per basic and diluted share compared to $73,376,000 or $2.04 per basic and diluted share a year ago. EBITDA was $56,333,000 compared to $66,916,000 a year ago. Net debt as at October 31, 2014 was $790,420,000 compared to $683,840,000 a year ago.
The company reaffirmed fiscal 2015 Resort Reported EBITDA will be between $340 million and $360 million, which includes approximately $5 million of litigation, transaction and integration expense, and excludes the $16.4 million non-cash gain on Park City litigation settlement. The company expected Resort EBITDA Margin (defined as Resort Reported EBITDA divided by Resort net revenue), excluding the impact of the non-cash gain on Park City litigation settlement, to be approximately 25.3%, using the midpoint of the guidance range. This is an estimated 3.0 percentage point increase over fiscal 2014. The company estimates fiscal 2015 Real Estate Reported EBITDA to be between negative $13 million and negative $6 million. Net Real Estate Cash Flow is expected to be between $10 million and $20 million. Net income attributable to Vail Resorts Inc. is expected to be between $75.5 million and $100.5 million in fiscal 2015, excluding the non-cash gain on Park City litigation settlement. The company expects depreciation and amortization to be in the range from $147,000,000 to $140,000,000, EBITDA to be in the range from $327,000 to $354,000, interest expense to be in the range from $57,000,000 to $54,000,000 and provision for income taxes to be in the range from $45,800,000 to $59,400,000. The company would have expected normal capital spending to be about $93 million for capital - for calendar 2015. The company would expect capital spending, excluding summer, to be about $96 million in calendar 2016.
Vail Resorts Inc. to Report Q1, 2015 Results on Dec 08, 2014
Nov 20 14
Vail Resorts Inc. announced that they will report Q1, 2015 results at 9:00 AM, Eastern Standard Time on Dec 08, 2014