Vail Resorts, Inc. (NYSE:MTN) Q2 2023 Earnings Conference Call March 9, 2023 5:00 PM ET
Company Participants
Kirsten Lynch - Chief Executive Officer
Angela Korch - Executive Vice President and Chief Financial Officer
Conference Call Participants
Shaun Kelley - Bank of America Merrill Lynch
Benjamin Chaiken - Credit Suisse AG
Chris Woronka - Deutsche Bank AG
Laurent Vasilescu - BNP Paribas Exane
David Katz - Jefferies LLC
Brandt Montour - Barclays Bank PLC
Patrick Scholes - Truist Securities, Inc.
Omer Sander - JPMorgan Chase & Co.
Ryan Sundby - William Blair & Company LLC
Jackson Gibb - Stifel Financial Corp.
Operator
Good afternoon, and welcome to the Vail Resorts Fiscal 2023 Second Quarter Earnings Call. Today's conference is being recorded. Currently, all callers have been placed in a listen-only mode and following management's prepared remarks, the call will be opened up for your questions. [Operator Instructions]
I will now turn the call over to Kirsten Lynch, Chief Executive Officer of Vail Resorts. You may begin.
Kirsten Lynch
Thank you. Good afternoon, everyone. Welcome to our fiscal 2023 second quarter earnings conference call. I am pleased to have Angela Korch, joining me on the call today, who recently rejoined Vail Resorts as Chief Financial Officer.
Before we begin, let me remind you that some information provided during this call may include forward-looking statements that are based on certain assumptions and are subject to a number of risks and uncertainties as described in our SEC filings and actual future results may vary materially. Forward-looking statements in our press release issued this afternoon, along with our remarks on this call are made as of today, March 9, 2023, and we undertake no duty to update them as actual events unfold.
Today's remarks also include certain non-GAAP financial measures. Reconciliations of these measures are provided in the tables included with our press release, which along with our quarterly report on Form 10-Q were filed this afternoon with the SEC and are also available on the Investor Relations section of our website at www.vailresorts.com.
So with that said, let's turn to our fiscal 2023 second quarter results. Overall, we are pleased with the strong guest experience being delivered at our resorts, supported by the investments we made in our resorts and in our employees, which enabled greatly improved staffing levels and employee satisfaction scores, a return to normal operations and strong guest satisfaction scores.
Our ancillary businesses, including ski school, dining, and rental and retail, experienced strong growth compared to the prior year period, when staffing shortages constrained capacity of ancillary businesses. We believe these investments in staffing and our commitment to enhancing the guest experience establish a strong foundation for future growth.