What Happened?
Shares of luxury ski resort company Vail Resorts (NYSE:MTN) jumped 7.9% in the morning session after the company reported its third-quarter 2025 results, and reaffirmed its full-year guidance.
The ski resort operator's revenue of $271.0 million and its loss of $5.20 per share both came in slightly below Wall Street's expectations for the seasonally slow quarter. More importantly for investors, the company maintained its outlook for the full fiscal year, projecting net income between $201 million and $276 million. Vail Resorts also signaled confidence by declaring a quarterly cash dividend of $2.22 per share and noted it had repurchased approximately $25 million worth of its shares. While the company noted that North American season pass sales units were down about 2%, the revenue from those sales increased by 3%, helped by a price increase, showing resilient pricing power.
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What Is The Market Telling Us
Vail Resorts’s shares are not very volatile and have only had 7 moves greater than 5% over the last year. In that context, today’s move indicates the market considers this news meaningful, although it might not be something that would fundamentally change its perception of the business.
The biggest move we wrote about over the last year was 7 months ago when the stock gained 13.2% on the news that the company announced the return of Rob Katz as CEO, replacing Kirsten Lynch. Katz, who previously held the chief executive role from 2006 to 2021 and currently serves as executive chair. For investors, Katz's leadership is likely to inspire confidence, given his history of driving growth and expanding Vail's resort portfolio.
Vail Resorts is down 12.2% since the beginning of the year, and at $153.75 per share, it is trading 20.7% below its 52-week high of $193.91 from December 2024. Investors who bought $1,000 worth of Vail Resorts’s shares 5 years ago would now be looking at an investment worth $553.08.
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