Research Desk Line-up: Carnival Post Earnings Coverage

LONDON, UK / ACCESSWIRE / October 10, 2017 / Pro-Trader Daily has just published a free post-earnings coverage on Vail Resorts, Inc. (NYSE: MTN), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=MTN, following the Company's reporting of its financial results on September 28, 2017, for the fourth quarter of the fiscal year 2017. Vail Resorts' total net revenue increased 16.2% on a y-o-y basis. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:

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Get more of our free earnings reports coverage from other constituents of the Resorts & Casinos industry. Pro-TD has currently selected Carnival Corporation (NYSE: CCL) for due-diligence and potential coverage as the Company announced on September 26, 2017, its financial results for Q3 2017. Register for a free membership today, and be among the early birds that get access to our report on Carnival when we publish it.

At Pro-TD, we make it our mission to bring you news that matter about the stock you follow. Today, our research desk covers a blog story on MTN; also brushing on CCL. With the links below you can directly download the report of your stock of interest free of charge at:

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Earnings Reviewed

For the three months ended July 31, 2017, Vail Resorts' total net revenue increased 16.2% to $209.12 million from $179.88 million in Q4 FY16. During Q4 FY17, the Company's resort net revenue increased 17.3% to $202.39 million from $172.52 million in Q4 FY16, whereas the Company's real estate net revenue decreased 8.4% to $6.74 million from $7.36 million in Q4 FY16. The Company's total net revenue was below analysts' expectations of $212.03 million.

During FY17, Vail Resorts' total net revenue increased 19.3% to $1.91 billion from $1.60 billion in FY16. During FY17, the Company's resort net revenue increased 19.6% to $1.89 billion from $1.58 billion in FY16. During FY17, the Company's real estate net revenue decreased 23.5% to $16.92 million from $22.13 million in FY16.

For the reported quarter, Vail Resorts' total reported earnings before interest, tax, depreciation, and amortization (EBITDA) was negative $50.36 million compared to negative reported EBITDA of $46.24 million in Q4 FY16. During Q4 FY17, the Company's real estate's reported EBITDA decreased 96.9% to $98,000 from $3.25 million in the same period of last year.

During Q4 FY17, Vail Resorts' G&A expenses increased 9.1% to $51.00 million from $46.74 million in Q4 FY16. For the reported quarter, the Company's total resort operating expenses increased 13.9% to $253.22 million from $222.31 million in Q4 FY16. During Q4 FY17, the Company's D&A expenses increased 19.9% to $48.92 million from $40.78 million in Q4 FY16.

For the reported quarter, Vail Resorts' operating loss was $102.58 million compared to an operating loss of $93.78 million in Q4 FY16.

During Q4 FY17, Vail Resorts' net loss was $57.15 million compared to a net loss of $65.27 million in Q4 FY16. During Q4 FY17, the Company's diluted earnings per share (EPS) was negative $1.43 compared to negative diluted EPS of $1.80 in Q4 FY16. The diluted EPS surpassed analysts' expectations of negative $1.81.

During FY17, Vail Resorts' net income increased 40.6% to $210.55 million from $149.75 million in FY16. During FY17, the Company's diluted EPS increased 30.1% to $5.22 from $4.01 in FY16.

Segment Details

Mountain - During Q4 FY17, Vail Resorts' Mountain segment's net revenue increased 28.3% to $125.76 million from $97.99 million in Q4 FY16. During Q4 FY17, the segment's total operating expenses increased 20.6% to $183.45 million from $152.09 million in Q4 FY16. During Q4 FY17, the segment's reported EBITDA was negative $57.32 million compared to a negative reported EBITDA of $53.81 million in the same period of last year. For the reported quarter, the segment's effective ticket price (ETP) was $46.16 compared to $47.16 in Q4 FY16.

Lodging - During Q4 FY17, Vail Resorts' Lodging segment's net revenue increased 2.8% to $76.63 million from $74.53 million in Q4 FY16. During Q4 FY17, the segment's total operating expenses decreased 0.6% to $69.77 million from $70.22 million in Q4 FY16. During Q4 FY17, the segment's reported EBITDA increased 59.1% to $6.86 million from $4.31 million in the same period of last year.

Balance Sheet

As on July 31, 2017, Vail Resorts' long-term debt increased 79.0% to $1.23 billion from $686.91 million in FY16.

During FY17, Vail Resorts' net debt increased 83.4% to $1.16 billion from $632.37 million in FY16.

On September 28, 2017, the Company's Board of Directors declared a quarterly cash dividend of $1.05 per share payable on October 27, 2017, to shareholders of record on October 10, 2017.

Outlook

For FY18, Vail Resorts expects resort reported EBITDA to be in the range of $644.00 million to $680.00 million. The Company estimates net income to be in the band of $234.00 million to $272.00 million for the fiscal year 2018.

Stock Performance

On Monday, October 09, 2017, the stock closed the trading session at $216.56, slightly falling 0.50% from its previous closing price of $217.65. A total volume of 237.88 thousand shares have exchanged hands. Vail Resorts' stock price skyrocketed 6.82% in the last three months, 14.66% in the past six months, and 39.01% in the previous twelve months. Furthermore, since the start of the year, shares of the Company have soared 34.25%. The stock is trading at a PE ratio of 44.18 and has a dividend yield of 1.94%. At Monday's closing price, the stock's net capitalization stands at $8.83 billion.

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