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BRIEF-Vail Resorts Inc Posts Qtrly Loss Per Share Of $3.82

Published 2020-09-24, 04:27 p/m
© Reuters.

Sept 24 (Reuters) - Vail Resorts Inc MTN.N :

* VAIL RESORTS REPORTS FISCAL 2020 FOURTH QUARTER AND FULL YEAR RESULTS AND PROVIDES PRELIMINARY SEASON PASS SALES RESULTS

* QTRLY LOSS PER SHARE $3.82

* IN NORTH AMERICA, U.S. RESORT COMMUNITIES EXPERIENCED INCREASING DEMAND FROM LEISURE TRAVELERS THROUGHOUT MONTH OF JULY

* AT WHISTLER BLACKCOMB, DEMAND IN JULY WAS BELOW OUR EXPECTATIONS DUE IN PART TO TRAVEL RESTRICTIONS

* QTRLY TOTAL NET REVENUE $77.2 MILLION VERSUS $244.0 MILLION

* SEASON PASS SALES THROUGH SEPTEMBER 18, 2020 FOR UPCOMING 2020/2021 NORTH AMERICAN SKI SEASON INCREASED APPROXIMATELY 18% IN UNITS

* WILL NOT BE PROVIDING FULL YEAR GUIDANCE FOR FISCAL 2021 AT THIS TIME.

* EXPECT OPERATING PLANS WILL HELP ENABLE A SAFE SKI SEASON BUT WILL ALSO NEGATIVELY IMPACT FISCAL 2021 FINANCIAL RESULTS

* TOTAL CASH AND REVOLVER AVAILABILITY AS OF AUGUST 31, 2020 WAS ABOUT $953 MILLION

* VAIL RESORTS - EXPECT TO SEE MATERIAL DECLINES IN VISITATION TO RESORTS, ASSOCIATED REVENUE FALL IN FISCAL 2021 RELATIVE TO ORIGINAL EXPECTATIONS FOR 2020

* Q4 EARNINGS PER SHARE VIEW $-3.43, REVENUE VIEW $140.9 MILLION -- REFINITIV IBES DATA

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