Vail Resorts Inc ( MTN ) reported financial results for the third quarter on Thursday after the bell. Here’s a look at the key details from the print.

Q3 Earnings: Vail Resorts ( MTN ) reported third-quarter revenue of $1.29 billion, narrowly missing estimates of $1.3 billion, according to Benzinga Pro. The company reported third-quarter earnings of $10.54 per share, beating estimates of $10.12 per share.

Total revenue was up 1% year-over-year. Pass product sales for the upcoming 2025/2026 North American ski season decreased approximately 1% in units, but increased approximately 2% in sales dollars.

Vail Resorts’ board declared a quarterly cash dividend of $2.22 per share, payable on July 9 to shareholders of record as of June 24.

“Results in the quarter reflect the stability provided by our season pass program as Resort net revenue, excluding Crans-Montana, remained consistent with the prior year even as visitation declined 7%,” said Rob Katz, CEO of Vail Resorts ( MTN ).

“Our performance throughout the 2024/2025 North American ski season reflects the strength of our advance commitment strategy, strong destination guest spending, and the impact of our resource efficiency transformation plan.”

Vail announced at the end of May that Katz was taking over as CEO for Kirsten Lynch, who decided to step down from the role.

Vail said it expects to achieve $100 million in annualized cost efficiencies by the end of fiscal 2026 due to the company’s two-year resource efficiency transformation plan, announced in September 2024.

Outlook: The company expects fiscal 2025 net income attributable to Vail Resorts ( MTN ) to be between $264 million and $298 million, and Resort Reported EBITDA for fiscal 2025 to be between $831 million and $851 million. 

“The guidance reflects the lower than expected lift ticket visitation in the spring period that was partially mitigated by the Company’s focus on its resource efficiency transformation plan and strong cost discipline,” the company said.

Vail Resorts ( MTN ) executives will further discuss the quarter on a conference call set for 5 p.m. ET.

MTN Price Action: Vail Resorts ( MTN ) shares were down 1.04% in after-hours, trading at $153.33 at the time of publication Thursday, according to Benzinga Pro.

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