NEW YORK (TheStreet) -- Vail Resorts (MTN) shares are down 3.3% to $102.81 in early market trading on Monday after the mountain lodging and real estate company reported its third quarter earnings results before the opening bell today.
The Broomfield, CO-based company reported quarterly net income of $133.4 million, or $3.56 per diluted share, a 13% increase over the previous year, that was still lower than analysts' $3.69 expectations for the period.
Revenue during the quarter rose 6.6% to $579 million, below analysts' $591.87 million guidance.
The company reported that season pass sales volume during the quarter increased 12% year over year.
TheStreet Ratings team rates VAIL RESORTS INC as a Buy with a ratings score of A+. TheStreet Ratings Team has this to say about their recommendation:
"We rate VAIL RESORTS INC (MTN) a BUY. This is based on the convergence of positive investment measures, which should help this stock outperform the majority of stocks that we rate. The company's strengths can be seen in multiple areas, such as its robust revenue growth, expanding profit margins, good cash flow from operations, compelling growth in net income and largely solid financial position with reasonable debt levels by most measures. Although the company may harbor some minor weaknesses, we feel they are unlikely to have a significant impact on results."
Highlights from the analysis by TheStreet Ratings Team goes as follows:
- You can view the full analysis from the report here: MTN Ratings Report