Vail Resorts, Inc. (NYSE:MTN) Q2 2024 Earnings Conference Call March 11, 2024 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
Jeffrey Stantial - Stifel
Laurent Vasilescu - BNP Paribas
Matthew Boss - JPMorgan Chase & Co.
David Katz - Jefferies LLC
Patrick Scholes - Truist Securities, Inc.
Louise Doss - Morgan Stanley
Chris Woronka - Deutsche Bank AG
Brandt Montour - Barclays Bank PLC
Operator
Good afternoon, and welcome to the Vail Resorts Fiscal Second Quarter 2024 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 would now like to turn the call over to Kirsten Lynch, Chief Executive Officer of Vail Resorts. Please go ahead, ma'am.
Kirsten Lynch
Thank you. Good afternoon, everyone. Welcome to our fiscal 2024 second quarter earnings conference call. Joining me on the call this afternoon is Angela Korch, our 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 11, 2024, 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.
Let's turn now to our fiscal 2024 second quarter results. Given the unfavorable conditions across our North American resorts, we are pleased that our results for the quarter demonstrate the resiliency of our strategic business model and our network of resorts and loyal guests. The results for the second quarter were negatively impacted by challenging conditions at all of our North American resorts through January with approximately 42% lower snowfall across our western North American resorts compared to the same period in the prior year and limited natural snow and variable temperatures at our Eastern U.S. resorts, which comprise our Midwest, Mid-Atlantic, and Northeast resorts.