Vail Resorts, Inc. (NYSE:MTN) Faces Market Challenges Despite Earnings Beat

• Morgan Stanley sets a price target of $146 for NYSE:MTN, indicating a potential decline in stock price.
• Vail Resorts reports a strong EPS of $10.54 for Q3 fiscal 2025, but sees a decline in visitation and lodging revenues.
• Despite revenue challenges, season pass revenues increase by 2% due to a price hike, showcasing the resilience of the company's business model.

Vail Resorts, Inc. (NYSE:MTN) is a leading global mountain resort operator, known for its premier ski destinations. The company manages a portfolio of world-class resorts, offering a range of services including skiing, lodging, and other mountain-related activities. Vail Resorts competes with other major players in the industry, such as Aspen Skiing Company and Alterra Mountain Company.

On June 6, 2025, Megan Alexander from Morgan Stanley set a price target of $146 for MTN. At that time, MTN's stock was trading at $155.42, indicating a price difference of approximately -6.06% from the target. This suggests that Morgan Stanley anticipates a potential decline in MTN's stock price, despite the company's recent earnings performance.

Vail Resorts reported its third-quarter fiscal 2025 earnings, which exceeded expectations with an earnings per share (EPS) of $10.54, up from $9.54 the previous year. However, the company's revenues fell short of estimates due to a 7% decline in visitation and a 4.8% drop in lodging revenues. Despite these challenges, mountain revenues increased, and season pass revenues rose by 2% due to a 7% price hike for the 2025-2026 season.

CEO Rob Katz emphasized the stabilizing effect of the company's season pass program, noting that total resort net revenues, excluding the newly acquired Crans-Montana property, remained steady compared to the previous year. Despite the earnings beat, Vail Resorts' stock fell by 1.3% in after-hours trading, reflecting investor concerns over the revenue shortfall and visitation decline.

Currently, MTN's stock is priced at $149.47, reflecting a decrease of 3.51% or $5.44. Today, the stock has traded between a low of $147.53 and a high of $155.25. Over the past year, MTN has reached a high of $199.45 and a low of $129.85. The company's market capitalization is approximately $5.58 billion, with a trading volume of 1,014,166 shares on the NYSE.