Vail Resorts Inc. said its normalized net income for the fiscal third quarter ended April 30 came to $4.38 per share, compared with the S&P Capital IQ consensus estimate of $4.88 per share.
EPS rose year over year from $4.25.
Normalized net income, which excludes unusual gains or losses on a pre- and after-tax basis, was $180.4 million, a gain of 13.8% from $158.5 million in the prior-year period.
The normalized profit margin dropped to 22.7% from 24.5% in the year-earlier period.
Total revenue increased 22.7% on an annual basis to $794.6 million from $647.5 million, and total operating expenses climbed 19.3% year over year to $458.1 million from $383.9 million.
Reported net income increased 14.9% from the prior-year period to $181.2 million, or $4.40 per share, from $157.6 million, or $4.23 per share.