Filing Flows › Vail Resorts (MTN) › Q3 FY25
Vail Resorts (MTN) Q3 FY25 earnings results (third quarter fiscal 2025)
10-Q filed Jun 5, 2025
Vail Resorts (MTN) reported revenue of $1.3B for the third quarter fiscal 2025 (Q3 FY25), +1% from a year earlier and +14% from the quarter before. Operating margin was 44.6%, net earnings $390M (30.1% of revenue).
Vail Resorts, Q3 FY25: revenue $1.3B (+1% year over year), operating margin 44.6%, net earnings $390M, operating cash flow $115M. The chart follows the revenue to costs, profit and cash.
| Q3 FY25 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.3B | +14% | +1% |
| Operating profit | $578M | +51% | +6% |
| Net earnings | $390M | +59% | +8% |
| Operating cash flow | $115M | -65% | +5% |
| Free cash flow | $82.2M | -67% | -3% |
What changed
Revenue was $1.3B in Q3 FY25, up 1% year over year and up 14% from the previous quarter.
Operating profit was $0.58B, a 44.6% margin (up 2.0 points year over year). Of the extra revenue versus a year earlier, 254% reached operating profit, above the 43% margin then. Total costs fell 3% while revenue rose 1%. Net earnings were $0.39B, up 8% year over year. The effective tax rate was 24.0%.
Operating cash flow was $0.12B (up 5% year over year), 28% of net income including minority interests. Non-cash charges added back $0.08B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.38B. Capital expenditures of $0.03B left free cash flow of $0.08B.
Questions
What was Vail Resorts' revenue in the third quarter fiscal 2025?
Vail Resorts (MTN) reported revenue of $1.3B for the third quarter fiscal 2025 (Q3 FY25), +1% from a year earlier and +14% from the quarter before.
Was Vail Resorts profitable in the third quarter fiscal 2025?
Operating profit was $578M (44.6% of revenue) and net earnings $390M.
Source: Vail Resorts 10-Q on SEC EDGAR.