Vail Resorts Misses With Q2 Results, Doubles Dividend – Stock Off 2%

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Vail Resorts, Inc. (MTN) reported fiscal Q2 results below Street expectations, lowers guidance, but did raise its dividend Wednesday.

Net income attributable to Vail Resorts, Inc. was $59.3 million for Q2, down 2.1% compared to the same period in the prior year. EPS were $1.60, down from $1.65, and below the Capital IQ consensus for $1.88.

Total revenue was $452.7 million, up from $422.45 million. The Street expected $473 million.

The company revised its fiscal 2014 guidance range downward to reflect the challenging Tahoe results. Resort Reported EBITDA is now expected to be between $255 million and $265 million.

The company approved a 100% increase in the quarterly cash dividend to $0.4150 per share from $0.2075 per share beginning with the dividend payable on April 16 to stockholders of record as of April 1.

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