05:30 AM EDT, 06/07/2024 (MT Newswires) -- (Updates with the stock move in the headline and the first paragraph.)

Vail Resorts ( MTN ) shares traded more than 6% lower in premarket activity Friday after the company reported overnight a lower than expected earnings and sales for fiscal Q3 while lowering its full-year net income guidance.

The company reported fiscal Q3 earnings Thursday of $9.54 per diluted share, up from $8.18 a year earlier.

Analysts polled by Capital IQ expected $10.03.

Revenue in the quarter ended April 30 rose to $1.28 billion from $1.24 billion a year ago.

Analysts surveyed by Capital IQ expected $1.30 billion.

The company expects net income in fiscal 2024 of $224 million and $256 million, down from previous guidance of $270 million to $325 million. Analysts polled by Capital IQ expect $291.7 million.

Vail Resorts ( MTN ) maintained its quarterly dividend at $2.22 a share, payable July 10 to shareholders of record on June 25.

Price: 182.00, Change: -11.95, Percent Change: -6.16