Vail Resorts Files Q1 2025 10-Q

Ticker: MTN · Form: 10-Q · Filed: 2024-12-09T00:00:00.000Z

Sentiment: neutral

Topics: 10-Q, quarterly-report, financials

TL;DR

Vail Resorts' Q1 2025 10-Q is in, showing early fiscal year financials.

AI Summary

Vail Resorts Inc. filed its 10-Q for the period ending October 31, 2024. The filing covers the first quarter of their fiscal year, which began on August 1, 2024. Key financial data from previous periods, such as stockholder equity as of July 31, 2023, and October 31, 2023, are referenced.

Why It Matters

This filing provides investors with an update on Vail Resorts' financial performance and position at the start of their fiscal year, crucial for understanding seasonal trends in the ski industry.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing historical financial data and does not contain significant new risk disclosures.

Key Numbers

Key Players & Entities

FAQ

What is the primary purpose of this 10-Q filing?

This 10-Q filing provides Vail Resorts Inc.'s quarterly financial statements and related disclosures for the period ending October 31, 2024.

When did the fiscal quarter covered by this report begin?

The fiscal quarter covered by this report began on August 1, 2024.

What is the company's fiscal year end?

Vail Resorts Inc.'s fiscal year ends on July 31.

Are there any specific dollar amounts mentioned for the current quarter?

This excerpt does not contain specific dollar amounts for the current reporting period ending October 31, 2024, but references prior period equity figures.

What is the SIC code for Vail Resorts Inc.?

The Standard Industrial Classification (SIC) code for Vail Resorts Inc. is 7990, which falls under SERVICES-MISCELLANEOUS AMUSEMENT & RECREATION.

Filing Stats: 4,713 words · 19 min read · ~16 pages · Grade level 14.6 · Accepted 2024-12-09 16:07:39

Key Financial Figures

Filing Documents

FINANCIAL INFORMATION Page

PART I FINANCIAL INFORMATION Page

Financial Statements (unaudited)

Item 1. Financial Statements (unaudited). Consolidated Condensed Balance Sheets as of October 3 1 , 2024, July 31, 2024 and October 31 , 2023 2 Consolidated Condensed Statements of Operations for the Three Month s Ended October 31, 2024 and 2023 3 Consolidated Condensed Statements of Comprehensive Loss for the Three Months Ended October 31 , 2024 and 2023 4 Consolidated Condensed Statements of Stockholders' Equity for the Three Months Ended October 31 , 2024 and 2023 5 Consolidated Condensed Statements of Cash Flows for the Three Months Ended October 31 , 2024 and 2023 6 Notes to Consolidated Condensed Financial Statements 7

Management's Discussion and Analysis of Financial Condition and Results of Operations

Item 2. Management's Discussion and Analysis of Financial Condition and Results of Operations 19

Quantitative and Qualitative Disclosures About Market Risk

Item 3. Quantitative and Qualitative Disclosures About Market Risk 30

Controls and Procedures

Item 4. Controls and Procedures 31

OTHER INFORMATION

PART II OTHER INFORMATION

Legal Proceedings

Item 1. Legal Proceedings 31

Risk Factors

Item 1A. Risk Factors 32

Unregistered Sales of Equity Securities and Use of Proceeds

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 32

Defaults Upon Senior Securities

Item 3. Defaults Upon Senior Securities 32

Mine Safety Disclosures

Item 4. Mine Safety Disclosures 32

Other Information

Item 5. Other Information 32

Exhibits

Item 6. Exhibits 33 1 Vail Resorts, Inc. Consolidated Condensed Balance Sheets (In thousands, except per share amounts) (Unaudited) October 31, 2024 July 31, 2024 October 31, 2023 Assets Current assets: Cash and cash equivalents $ 403,768 $ 322,827 $ 728,859 Restricted cash 14,675 14,236 11,532 Trade receivables, net 130,162 375,752 105,546 Inventories, net 152,943 118,988 157,707 Other current assets 152,071 79,558 130,861 Total current assets 853,619 911,361 1,134,505 Property, plant and equipment, net (Note 7) 2,434,776 2,422,635 2,344,601 Real estate held for sale or investment 85,317 86,548 86,465 Goodwill, net (Note 7) 1,671,080 1,677,975 1,668,028 Intangible assets, net 300,530 302,535 300,457 Operating right-of-use assets 254,489 256,627 187,128 Other assets 42,404 40,756 38,832 Total assets $ 5,642,215 $ 5,698,437 $ 5,760,016 Liabilities and Stockholders' Equity Current liabilities: Accounts payable and accrued liabilities (Note 7) $ 1,297,994 $ 1,000,798 $ 1,276,525 Income taxes payable 8,628 55,358 16,663 Long-term debt due within one year (Note 5) 57,045 57,153 69,659 Total current liabilities 1,363,667 1,113,309 1,362,847 Long-term debt, net (Note 5) 2,709,955 2,721,597 2,732,037 Operating lease liabilities 233,304 233,465 165,462 Other long-term liabilities 310,303 311,768 285,454 Deferred income taxes, net 279,687 279,815 286,036 Total liabilities 4,896,916 4,659,954 4,831,836 Commitments and contingencies (Note 9) Stockholders' equity: Preferred stock, $ 0.01 par value, 25,000 shares authorized, no shares issued and outstanding — — — Common stock, $ 0.01 par value, 100,000 shares authorized, 46,922 , 46,855 and 46,851 shares issued, respectively 469 469 469 Additional paid-in capital 1,146,518 1,145,610 1,126,033 Accumulated other comprehensive loss ( 71,436 ) ( 67,288 ) ( 78,376 ) Retained earnings 524,450 780,431 619,727 Treasury stock, at cost, 9,484 , 9,370 and 8,885 shares, respectively (Note 1

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