Vail Resorts, Inc. (NYSE: MTN) today reported results for the first quarter of fiscal 2023 ended October 31, 2022, provided season pass sales results, reaffirmed its guidance for Resort Reported EBITDA for fiscal 2023, provided additional detail on its calendar year 2023 capital plan and declared a dividend payable in January 2023.
Vail Resorts sold 2.3 million Epic Pass products for the 2022/23 season, which is down by 12% over last year.Source: VailResorts
Tag: MTN stock
“Vail will collapse. It’s not IF but WHEN.”
Vail will collapse. It’s not if but when. When pass prices go up by 20% they can only muster a 6% revenue increase associated with a 12% drop in units sold their upper tier passes while buying FOUR new areas. This all in an economy with huge inflation and huge labor cost increases. The financials just don’t add up to sustainability.
Their Experience Of A Lifetime (TM) is turning people away. Limited snowmaking this year (disasterous last year).
Poor grooming quality. I laugh at some of the pics posted to the pass group on Facebook talking about the amazing conditions when there’s huge grooming ruts, 2 foot ice boulders, death cookies galore, etc. in the pics.
Lack of maintenance to their lifts leading them to break down all the time (Attitash last year, Stowe this year). Lack of running lifts. Non lifties running lifts. Grumpy employees some that scream at you for no reason. Bad traffic. Long lines. Charge you to park with no lifts running. I can go on…
Interest rates are through their roof. Their line of credit they’ve been using to fund their upgrades is now suddenly much costlier. Meanwhile their bread and butter resorts — Vail, Beaver Creek, Breckinridge, Keystone — have a ton of aging detachable that need to be replaced within the decade.obienick via Snowjournal
Vail CEO Kirsten A. Lynch makes $6,6M+ / year
“As Chief Executive Officer at VAIL RESORTS INC, Kirsten A. Lynch made $6,609,628 in total compensation. Of this total $885,999 was received as a salary, $1,188,300 was received as a bonus, $2,249,981 was received in stock options, $2,249,991 was awarded as stock and $35,357 came from other types of compensation. This information is according to proxy statements filed for the 2022 fiscal year.”
So your $235 for 1 day lift ticket, $20 per hamburger and $700 for a crappy shithole cabin “Ski Trail condos” are going into the pocket of the right person. Here is that person:
Kirsten A. Lynch should be fired for her extremely crappy performance, but not rewarded with $6.6M+ in compensation.
Vail MTN is a falling knife now as it breaks down through two top trough support and the 200 day EMA. Selling will accelerate after Dec 23rd ex dividend date. They have a hugely inflated assets on their balance sheet and too much debt. Been cooking the books the past several years.Yahoo Finance discussion board for MTN stock ticker
“Vail is not doing a good job of maximizing revenue”
Vail is not doing a good job of maximizing revenue. At my local resort the restaurant / bar is not open during the holiday week, typically a very busy week.
“This stock MTN will be a two digit stock price by March”
Oh boy, wait til Christmas crash for MTN. when it goes ex dividend on the 23rd the tax loss selling will accelerate. The selling in January and February will be stunning as Vail’s super inflated balance sheet is revealed. Too much debt vs inflated assets probably leads to a secondary stock offering in early 2023. This stock MTN will be a two digit stock price by March. They went on an acquisition spree the past 5 years right into the teeth of the biggest asset bubble in history. Combined with huge labor cost inflation and higher interest rates….dead company walking.
Yep, MTN stock goes down the tube pretty fast:
Vail Resorts offers end-of-season bonus as ski areas struggle through labor crisis
“Ski resorts are struggling with COVID-ravaged workforces and swelling crowds. Vail Resorts promises workers a $2-an-hour bonus as it weathers a labor crisis, a potential strike by Park City ski patrollers and a declining stock price.”
“And Wall Street appears to be noticing the struggle. Vail Resorts’ stock peaked at $372.51 in early November, a month before the company reported selling 2.1 million advance tickets and season passes and told investors it had $1.5 billion in cash on hand for new acquisitions. Now Vail Resorts is trading around $300. “
Vail Resorts ex-CEO Katz sold 100K shares of MTN
Former CEO Katz sold 98,209 on 12/13/21 for $32M
Source: Yahoo Stock screeners
Vail Resorts Long Term Debt increased 13.26%
- Vail Resorts long term debt for the quarter ending October 31, 2021 was $2.705B, a 13.26% increase year-over-year.
- Vail Resorts long term debt for 2021 was $2.736B, a 14.62% increase from 2020.
- Vail Resorts long term debt for 2020 was $2.387B, a 56.25% increase from 2019.
- Vail Resorts long term debt for 2019 was $1.528B, a 23.78% increase from 2018.
“Kirsten Lynch is a garbage CEO. Vail is a scam. MTN Stock is going down fast.”
Vail sold thousands of Epic Local passes good at Stevens Pass in Washington. They weren’t willing to pay market wages, so couldn’t hire enough staff to open the mountain. During peak ski season between Christmas and New Year’s, they opened less than 40% of the ski area because of staffing shortages. They are stealing from people who paid in advance for season passes.John Bravenec via Facebook
Moving on to season pass results, Lynch said, “Pass product sales for the North American ski season increased approximately 47% in units and approximately 21% in sales dollars through December 5, 2021 as compared to the period in the prior year through December 6, 2020
Net loss attributable to Vail Resorts, Inc. was $139.3 million for the first quarter of fiscal 2022 compared to a net loss attributable to Vail Resorts, Inc. of $153.8 million in the same period in the prior year. Both periods continued to be negatively impacted by COVID-19 and related limitations and restrictions.
Resort Reported EBITDA loss was $108.4 million for the first quarter of fiscal 2022, compared to a Resort Reported EBITDA loss of $94.8 million for the first quarter of fiscal 2021.Vail’s Fiscal Report 2022
Disgusted with the way I was treated. They owe me 2 season passes. Vail is a scum company. Can not believe they can operate in the US.Dean Cloninger via Facebook
Vail’s treatment of its customers is the worst I have ever encountered. It is only that I love Whistler mountain that I continue to pay several thousand dollars for passes. It is unnerving that Vail cares so little.Jako Krushnisky via Facebook
[UPDATE] Vail stock (MTN) is down another 2.21% and -0.31% afterhours
306 is the next floor. Let’s break it to see 280.
Vail (ticker symbol MTN) is down 1.05% today.
Let’s break 305 and then 280 resistance!
As of 12:00pm it is down 2.28%:
Vail (ticker MTN) is going down fast
..which is good. I’ll consider shorting this garbage stock