Vail Resorts Q2 Profit Rises - Quick Facts

(RTTNews) - Vail Resorts Inc. (MTN) reported that its net income attributable to the company for the second quarter of fiscal 2016 ended January 31, 2016 was $117.0 million, representing a 1.1% increase compared to the same period in the prior year. Earnings per share were $3.14, up from $3.10 in the prior year. Analysts polled by Thomson Reuters expected the company to report earnings of $3.00 per share. Analysts' estimates typically exclude special items.

Excluding the tax benefit recorded in the prior year resulting from an IRS settlement, net income for the second fiscal quarter of 2016 increased 27.2%, as compared to the same period in the prior year.

Total net revenue grew to $599.36 million from $530.24 million in the previous year. Wall Street expected revenues of $587.33 million for the quarter.

The company increased its fiscal 2016 guidance range and is now expecting Resort Reported EBITDA to be between $430 million and $445 million.

Net income attributable to Vail Resorts, Inc. is now expected to be in a range of $132 million to $152 million in fiscal 2016.

The Company's Board of Directors approved a 30% increase in the quarterly cash dividend to $0.81 per share from $0.6225 per share beginning with the dividend payable on April 13, 2016 to stockholders of record as of March 29, 2016.

The company expects to invest approximately $100 million in its calendar year 2016 capital plan, excluding capital expenditures for summer related activities and the one-time transformational investments at Wilmot Mountain.

The company also announced its plan to invest approximately $14 million in calendar year 2016 for Epic Discovery summer activities. This capital will be focused on additional canopy tours, zip lines, climbing walls, hiking trails and nature education programming primarily at Breckenridge, with more modest spending at Vail and Heavenly.