Vail's Announces Narrower-than-expected Loss, New Capital Plans

Vail Resorts Inc. reported a fiscal first-quarter loss of $64.3 million, or $1.77 a share, compared with $73.4 million, or $2.04 a share, in the year-earlier period, beating the FactSet consensus analyst estimate for a per-share loss of $2.03. The mountain resort operator's sales for the quarter rose 3.9% to $128.3 million from $123.4 million, boosted by strength in mountain segment revenue, but missed analyst forecasts of $132 million. The company also announced a new capital plan, which includes the building of a new eight-passenger, two-way gondola that connects its Park City and Canyons resorts in Utah, new high-speed chairlifts and the expansion of existing restaurants. Vail expects the cost of the capital plan will be about $50 million in 2015. The stock, which was still inactive in premarket trade, had climbed 22% so far this year through Friday, compared with a 12% rise in the S&P 500.