Vail Resorts’ stock falls on lowered profit forecast
BROOMFIELD, Colo. (AP) — Shares of Vail Resorts are falling after the ski resort company lowered one of its full-year forecasts because of fewer guests in early December.
The Broomfield, Colorado-based company said Friday that it now anticipates fiscal 2019 resort reported EBITDA — or earnings before interest, taxes, depreciation and amortization — to be slightly below the low end of its prior range of $718 million to $750 million.
Vail said its resorts in Whistler Blackcomb, British Columbia and Lake Tahoe in particular also suffered over the holidays from “increased weather variability.”
The stock dropped $25.39, or 11.8 percent, to $189.24 in morning trading. Earlier shares traded at $181.96, their lowest point since March 2017.
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Robert Shapiro was sentenced to the maximum 25 years in prison for running a $1.3 million real estate Ponzi scheme that claimed more than 7,000 victims.