Why Vail Resorts Just Withdrew Its 2020 Outlook
Vail Resorts (NYSE: MTN) on Tuesday announced mixed results for the fiscal second quarter that includes much of its peak ski season metrics. The operating trends were slightly below management's expectations, in part because of poor weather conditions in a few regions. However, the resort operator also took two unusual steps that related directly to the novel coronavirus outbreak and the subsequent shift in travel spending.
First, the company withdrew its 2020 financial outlook, citing uncertainty around skier visitation during its key late-season Easter and spring break holidays. Vail also postponed its decision on raising its annual dividend while it waits to see the full scope of the coronavirus's impact on the business this year.
In a conference call with Wall Street analysts, CEO Robert Katz and his team explained how Vail came to those difficult decisions. Below are a few highlights from that presentation.
Source Fool.com
