Vail Resorts beat second quarter earnings and revenue estimates, causing its shares to jump more than +8% Friday.
The mountain resort company reported net income of $5.02 per share, which edged past Wall Street analysts’ estimates of $4.83 per share. Its revenue of $850 million was higher than analysts’ expectations of $842 million for the quarter.
The company experienced a +27% year-over-year surge in skier visitation, while lodging revenue increased +16.1%.
Vail said that it would be boosting its quarterly dividend by +20% to $1.76 per share, payable April 11, to shareholders of record on March 27.
However, the company lowered its projection for the full-year EBITDA to a range of $690 million to $710 million, compared to its previous guidance range of $718 million to $750 million. It had weaker-than-expected destination guest visitation during the pre-holiday period.