Vail Resorts Inc ( MTN ) shares are sliding in Thursday’s after-hours session on the heels of the company’s fiscal third-quarter financial results.

Q3 Revenue: $1.28 billion, versus estimates of $1.3 billion

Q3 EPS: $9.54, versus estimates of $10.03

Total revenue was up 3.6% on a year-over-year basis. In the Mountain segment, Lift revenue was up 5% and ski school revenue was up 11.1%, while retail and rental revenue fell 8.7%. Lodging segment revenue also decreased 6.8% year-over-year.

Vail Resorts ( MTN ) cut its forward guidance for full-year 2024. The company now expects Resort Reported EBITDA to be between $833 million and $851 million. The company expects net income attributable to Vail Resorts ( MTN ) to be between $224 million and $256 million.

“The reduction relative to the guidance provided on March 11, 2024, is primarily from lift ticket visitation not returning to typical historical spring behavior as expected in the March and April period, primarily at Whistler Blackcomb, along with lowered expectations for the fourth quarter of $9 million primarily related to the demand outlook for our Australian resorts,” said Kirsten Lynch, CEO of Vail Resorts ( MTN ).

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MTN Price Action: Vail Resorts ( MTN ) shares were down 5.39% after-hours at $183.50 at the time of publication, according to Benzinga Pro.