Vail Resorts rises after lifting annual profit forecast

Vail Resorts

10/12/2024 15:59

** Ski resorts group Vail Resorts'  MTN.N  shares rise ~3%
to $195.77
    ** Co forecasts fiscal year net income between $240 million
and $316 million, up from the prior $224 million to $300 million
range
    ** Says the forecast lift is due to a $17 million benefit
from the sale of an East Vail property
    ** Co's Q1 net revenue rose 0.6% to $260.3 million, topping
estimates of $252.9 million, according to data compiled by LSEG,
helped by more consumers in North America indulging in summer
activities 
    ** MTN posts smaller-than-expected Q1 loss per share of
$4.61, compared with estimates of a loss of $4.99 per share
    ** Mizuho lifts PT to $224 from $222
    ** Jefferies raises PT to $190 from $181 and says it
believes strong results and pass sales provide inherent
long-term value to the brand 
    ** MTN stock has fallen 11% YTD, including session's moves

 (Reporting by Aamir Sohail in Bengaluru)
 ((Aamir.Sohail@thomsonreuters.com;))