Vail Resorts, Inc. reported its fiscal year 2024 results on September 26, 2024, highlighting a 9.5% decline in total skier visitation across North America and Australia, primarily due to unfavorable weather conditions and industry normalization post-COVID. Despite this, Resort Reported EBITDA, excluding the Crans-Montana acquisition impact, remained consistent with the prior year, supported by strong growth in ancillary spending per visit.
The company provided its initial outlook for fiscal year 2025, anticipating Net Income attributable to Vail Resorts between $224 million and $300 million, and Resort Reported EBITDA between $838 million and $894 million. This guidance includes estimated one-time costs of $15 million related to a new multi-year resource efficiency transformation plan and $1 million for Crans-Montana acquisition and integration expenses.
Vail Resorts announced a two-year Resource Efficiency Transformation Plan, targeting $100 million in annualized cost efficiencies by the end of fiscal year 2026, with approximately $27 million expected in fiscal 2025. This plan involves position eliminations impacting less than 2% of the total workforce, with a focus on corporate and back-end support roles. The company also declared a quarterly cash dividend of $2.22 per share and increased its share repurchase authorization by 1.1 million shares to approximately 1.7 million shares.
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