Vail Resorts Hits Record on Unexpected Demand By Investing.com

By Christiana Sciaudone

Investing.com — Let’s hit the slopes!

Vail Resorts (NYSE:MTN) is rallying after the company updated guidance for the nine months through April 30, thanks to better-than-expected demand despite Covid-19 restrictions.

The company now expects net income to be between $258 million and $280 million and Resort Reported Ebitda, or earnings before interest, taxes, depreciation and amortization, to be between $636 million and $650 million. That compares to a forecast in March of net income between $204 million and $247 million and Resort Reported Ebitda between $560 million and $600 million.

Shares are up about 3% to a record.

Colorado and Utah resorts, specifically, saw strong demand in March and April, with sales outperforming expectations. Additionally, season pass sales have been solid over the first month, the company said in a statement.