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Tuesday, May 30, 2023

Vail Resorts Inc. (MTN) Stock Trends Higher Following Stellar Financial Reports for Q4 2021

Vail Resorts Inc. (MTN) stock prices were up by 5.65% some time after market trading commenced on September 24th, 2021. This brought the price per share up to USD$346.11 early on in the trading day.

Promising Net Income

MTN stock reported net income in the amount of USD$127.9 million for fiscal 2021, representing a 29.4% increase from fiscal 2020. The fiscal 2021 year was adversely affected by the ongoing coronavirus pandemic and resulting limitations and restrictions. One such effect of the pandemic was the early closure of Whistler Blackcomb on March 30th 2021. Government mandated stay at home orders and period resort closures also particularly affected the company’s Australian ski areas. The fiscal 2020 year was negatively impacted by the early closure of the company’s North American destination mountain resorts and regional ski areas on March 15th 2020.

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MTN Stock’s EBITDA Reports

The company reported EBITDA in the amount of USD$544.7 million for the fiscal year 2021. This represents an 8.2% increase as compared to the fiscal year 2020. The fiscal 2021 continued to suffer from the negative effects of the ongoing coronavirus pandemic. The prior year period was largely attributable to the impact of Resort Closures. This included the resulting deferral of roughly USD$120.9 million of pass product revenue. Further consolidating the impact was USD$2.9 million in related deferred costs from fiscal 2020 to fiscal 2021. This was a result of pass holder credits offered to 2019/2020 North American pass product holders.

Solid Liquidity Position

MTN stock reported a solid liquidity position as of the end of the fiscal quarter. The company maintained a stellar financial position with USD$1.2 billion in cash on hand as of July 31st 2021. The company also reported the availability of USD$613 million under its United States and Whistler Blackcomb revolving credit facilities. Further consolidating the company’s promising year was the declaration of a cash dividend in the amount of USD$0.88 per share. The dividend will be payable in October 2021 and plans to exit the temporary waiver period under its VHI credit agreement, effective as of October 31st 2021.

Future Outlook for MTN Stock

The company reported a promising quarter, as evidenced by the strength of its financial reports for the quarter. MTN stock is keen to maintain the momentum it has generated to usher in unprecedented growth over the upcoming quarters. Current and potential investors are hopeful that management will be able to leverage the resources at their disposal. This is hoped to facilitate significant and sustained increases in shareholder value over the long term.

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