Vail Resorts Inc. (NYSE:MTN) Stock Update and Financial Performance Review

• Morgan Stanley updated its rating for Vail Resorts Inc. (NYSE:MTN) to "Equal-Weight," indicating a neutral market performance expectation.
• Vail Resorts reported $1.29 billion in revenue and earnings of $10.54 per share for the third quarter, showcasing strong profitability.
• The company's season pass program contributes to revenue stability, maintaining levels despite a 7% decline in visitation.

Vail Resorts Inc. (NYSE:MTN) is a leading global mountain resort operator, known for its premier ski destinations. The company manages a portfolio of world-class resorts, offering a range of services from skiing to lodging. Vail Resorts competes with other major players in the industry, such as Aspen Skiing Company and Alterra Mountain Company.

On June 6, 2025, Morgan Stanley updated its rating for MTN to "Equal-Weight," maintaining a "hold" stance. At the time, the stock price was $150.33. This rating reflects a neutral outlook, suggesting that the stock is expected to perform in line with the market. As highlighted by Benzinga, analysts have revised their forecasts following Vail Resorts' third-quarter results.

Vail Resorts reported mixed financial results for the third quarter. The company generated $1.29 billion in revenue, slightly below the expected $1.3 billion. Despite this, Vail Resorts exceeded earnings expectations with $10.54 per share, compared to the anticipated $10.12 per share. This indicates strong profitability, even with revenue falling short of projections.

CEO Rob Katz emphasized the stability provided by their season pass program. Resort net revenue, excluding Crans-Montana, remained consistent with the previous year, despite a 7% decline in visitation. This highlights the effectiveness of the season pass program in maintaining revenue levels, even with fewer visitors.

For fiscal 2025, Vail Resorts projects net income to be between $264 million and $298 million, and Resort Reported EBITDA to range from $831 million to $851 million. Following the earnings announcement, Vail Resorts' shares fell by 3.9%, trading at $149.00. The current price of MTN is $150.43, reflecting a decrease of 2.89% or $4.47. The stock has traded between a low of $147.53 and a high of $155.25 today.