Lifestyle Expert Chassie Post Tackles Spring Cleaning with an Innovative Product Showcase on Nationwide Media Tour
News Media Group and InTheNews.TV Teamed Up with Brands to Simplify the Seasonal Home Refresh
West Palm Beach, Florida--(Newsfile Corp. - April 4, 2025) - News Media Group and InTheNews.TV, in partnership with Lifestyle Expert Chassie Post, launched a nationwide media tour to introduce two game-changing products designed to simplify the seasonal home refresh. The media tour demonstrated how these innovative solutions eliminate the dread of spring cleaning, while offering smart and efficient ways to revitalize living spaces and maximize time spent enjoying the warmer weather. This tour provided an opportunity for brands to align with practical, consumer-focused solutions during a key period for home improvement.
Cannot view this video? Visit:
https://www.youtube.com/watch?v=Ntj-EBPLWHE
A recap of the spring cleaning roundup along with details can be found on InTheNews.tv. Brands featured in the spring cleaning media tour included:
Zep's Home Pro line that offers professional grade quality for everyday household use with superior formulas that deliver high efficiency cleaning solutions in refreshing scents that include their Multi-Purpose Foaming Bathroom Cleaner and Foaming Miracle Grout Cleaner & Protectant.
Dreame R10 Pure Cordless Stick Vacuum -Featuring 120AW suction power, a 60-minute runtime, and a multi-surface brush head with LED lights and anti-tangle design to help ensure effortless cleaning, while its sleek, minimalist design blends seamlessly into any living space.
To find more details, visit https://inthenews.tv/.
Media Contact Details:
Karl Wayne
Executive Producer
News Media Group, Inc.
info@newsmg.com
About News Media Group, Inc.
Founded in 2009, News Media Group (NMG) has become one of the leaders in organizing and producing consumer lifestyle and technology focused satellite and co-op satellite media tours (SMTs) in the country. NMG works with Fortune 500s and other top companies and agencies to ensure their brands reach the ideal audiences efficiently and effectively for product launches and media calendar events.
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/247390
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Vail Resorts Reports Fiscal 2025 Third Quarter Results, Provides Updated Fiscal 2025 Guidance, and Provides Early Season Pass Sales Results
BROOMFIELD, Colo., June 5, 2025 /CNW/ -- Vail Resorts, Inc. (NYSE: MTN) today reported results for the third quarter of fiscal 2025 ended April 30, 2025, updated fiscal 2025 guidance, and provided early season pass sales results. Highlights Net income attributable to Vail Resorts, Inc. was $392.8 million for the third quarter of fiscal 2025 compared to $362.0 million in the same period in the prior year. Resort Reported EBITDA was $647.7 million for the third quarter of fiscal 2025, which included $4.2 million of one-time costs related to the previously announced two-year resource efficiency transformation plan and $0.1 million of acquisition and integration related expenses. In the same period in the prior year, Resort Reported EBITDA was $654.4 million, which included $1.3 million of acquisition related expenses. The Company updated its fiscal 2025 guidance and is now expecting net income attributable to Vail Resorts, Inc. to be between $264 million and $298 million and Resort Reported EBITDA to be between $831 million and $851 million, which includes an estimated $15 million of one-time costs in support of the Company's resource efficiency transformation plan, an estimated $9 million in one-time costs related to the Company's previously announced Chief Executive Officer ("CEO") transition, and an estimated $1 million of acquisition and integration related expenses specific to Crans-Montana. In addition, compared to the original fiscal 2025 guidance, the updated guidance includes an estimated $7 million Resort Reported EBITDA impact from declines in foreign exchange rates. Pass product sales through May 27, 2025 for the upcoming 2025/2026 North American ski season decreased approximately 1% in units and increased approximately 2% in sales dollars as compared to the prior year period through May 28, 2024. Pass product sales are adjusted to eliminate the impact of changes in foreign currency exchange rates by applying current U.S. dollar exchange rates to both current period and prior period sales for Whistler Blackcomb. The Company's Board of Directors declared a quarterly cash dividend of $2.22 per share of Vail Resorts' common stock that will be payable on July 9, 2025 to shareholders of record as of June 24, 2025, and the Company repurchased approximately 0.2 million shares during the quarter at an average price of approximately $161 per share for a total of $30 million. The Board of Directors increased the Company's authorization for share repurchases by 1.5 million shares to approximately 2.8 million shares. Commenting on the Company's fiscal 2025 third quarter results, Rob Katz, Chief Executive Officer, said, "Results in the quarter reflect the stability provided by our season pass program as Resort net revenue, excluding Crans-Montana, remained consistent with prior year even as visitation declined 7%. In March and April, destination visitation among pre-committed passholder guests improved as expected. However, visitation from uncommitted lift ticket guests was below expectations. Ancillary spend per destination guest visit was strong across our ski school and dining businesses throughout the quarter, while overall revenue in our ancillary businesses was impacted by the lower visitation. "Our performance throughout the 2024/2025 North American ski season reflects the strength of our advance commitment strategy, strong destination guest spending, and the impact of our resource efficiency transformation plan. The Company achieved 3% growth in Resort Reported EBITDA year-to-date despite total skier visits declining 3% across our North American destination mountain resorts and regional ski areas from the beginning of the ski season through April 30, 2025. North American visitation reflects the benefit of improved conditions in the second quarter relative to the prior year, offset by the expected decline in visitation from selling fewer pass units this season. For the year-to-date period, Resort net revenue increased 3% driven by a 4% increase in season pass revenue and increased ancillary spend per guest across our ski school and dining businesses. Resort Reported EBITDA year-to-date also reflects strong cost discipline, including savings from the resource efficiency transformation plan. The Company's full year Resort Reported EBITDA growth is partially offset by $15 million of expected increased costs from company-wide performance-based management incentive plan expense that was not earned in the prior year, of which $12 million has been incurred through the fiscal third quarter, and $6 million expected unfavorable EBITDA impact from changes in foreign exchange rates, of which $4 million has been incurred through the fiscal third quarter. Overall, the results demonstrate the strength and resilience of the Company's business model, supported by its expansive resort network and loyal guest base, even as the Company's western North American destination resorts experienced a decline in visitation, with outsized impacts from a decline in lift ticket guests. "Through the 2024/2025 North American ski season, guest satisfaction scores across our destination mountain resorts and regional ski areas were strong and consistent with prior year, excluding Park City Mountain. As a result of the investments we continue to make in our teams, the Company achieved record front line return rates and strong employee engagement scores across our mountain resorts during the winter season." Regarding the Company's resource efficiency transformation plan, Katz said, "Vail Resorts is on track to achieve its two-year resource efficiency transformation plan, which was announced in September 2024. The two-year resource efficiency transformation plan is designed to improve organizational effectiveness and scale for operating leverage as the Company grows. Through the three pillars of scaled operations, global shared services, and expanded workforce management, the Company expects $100 million in annualized cost efficiencies by the end of its 2026 fiscal year. The Company now expects to deliver approximately $35 million of efficiencies before one-time operating expenses in fiscal year 2025, which includes $8 million of efficiencies the Company is accelerating into the current fiscal year from its original fiscal year 2026 plan. The Company remains on track to deliver $100 million in annualized cost efficiencies by the end of its fiscal year 2026." Operating Results A more complete discussion of our operating results can be found within the Management's Discussion and Analysis of Financial Condition and Results of Operations section of the Company's Form 10-Q for the third fiscal quarter ended April 30, 2025, which was filed today with the Securities and Exchange Commission. The following are segment highlights: Mountain Segment Total lift revenue increased $24.6 million, or 3.3%, compared to the same period in the prior year, to $770.3 million for the three months ended April 30, 2025, which was primarily due to an increase in pass product revenue of 5.5%, primarily driven by an increase in pass pricing for the 2024/2025 North American ski season. Non-pass product lift revenue was flat compared to the prior year and benefited from incremental non-pass revenue from Crans-Montana of $7.9 million and an increase in non-pass effective ticket price ("ETP") (excluding Crans-Montana) of 6.6%, but was offset by decreased non-pass visitation at our North American resorts. Total non-pass ETP, including the impact of Crans-Montana, increased 1.3% compared to the prior year. Ski school revenue decreased $1.0 million, or 0.6%, driven by decreased skier visitation, partially offset by increased lesson pricing and incremental revenue from Crans-Montana. Dining revenue increased $1.5 million, or 1.4%, driven by incremental revenue from Crans-Montana, partially offset by decreased skier visitation. Retail/rental revenue decreased $9.6 million, or 7.8%, for which retail revenues decreased $6.1 million, or 10.1%, driven by lower sales at our on-mountain retail locations, and rental revenues decreased $3.5 million, or 5.5%, each driven by decreased skier visitation. Operating expense increased $19.2 million, or 3.4%, which was primarily attributable to incremental operating expenses from Crans-Montana and an increase in general and administrative expenses, partially offset by decreased variable expenses associated with decreased revenue upon which those expenses are based. Mountain Reported EBITDA decreased $3.2 million, or 0.5%, for the third quarter compared to the same period in the prior year, which includes $6.1 million of stock-based compensation expense for the three months ended April 30, 2025 compared to $5.4 million in the same period in the prior year. Mountain segment results also include one-time operating expenses attributable to our resource efficiency transformation plan of $3.9 million for the three months ended April 30, 2025, as well as acquisition and integration related expenses of $0.1 million and $1.3 million for the three months ended April 30, 2025 and 2024, respectively. Lodging Segment Lodging segment net revenue (excluding payroll cost reimbursements) decreased $3.6 million, or 4.3%, to $78.7 million for the three months ended April 30, 2025 as compared to the same period in the prior year, primarily due to a decrease in revenue from managed condominium rooms as a result of a net reduction in our inventory of available managed condominium rooms proximate to our mountain resorts, as well as decreased demand, which was impacted by decreased destination skier visitation. Lodging Reported EBITDA decreased $3.5 million, or 22.1%, for the third quarter compared to the same period in the prior year, which includes $0.8 million of stock-based compensation expense for the three months ended April 30, 2025 compared to $0.7 million in the same period in the prior year. Lodging segment results also include one-time operating expenses attributable to our resource efficiency transformation plan of $0.3 million for the three months ended April 30, 2025. Resort - Combination of Mountain and Lodging Segments Resort net revenue was $1,295.4 million for the three months ended April 30, 2025, an increase of $12.3 million as compared to Resort net revenue of $1,283.1 million for the same period in the prior year. Resort Reported EBITDA was $647.7 million for the three months ended April 30, 2025, a decrease of $6.6 million, or 1.0%, compared to the same period in the prior year, which includes one-time operating expenses attributable to our resource efficiency transformation plan of $4.2 million for the three months ended April 30, 2025, as well as $0.1 million of acquisition related expenses for the third quarter of fiscal 2025 compared to $1.3 million of acquisition related expenses for the third quarter of the prior year. Total Performance Total net revenue increased $12.3 million, or 1.0%, to $1,295.6 million for the three months ended April 30, 2025 as compared to the same period in the prior year. Net income attributable to Vail Resorts, Inc. was $392.8 million, or $10.54 per diluted share, for the third quarter of fiscal 2025 compared to net income attributable to Vail Resorts, Inc. of $362.0 million, or $9.54 per diluted share, in the third quarter of the prior year. Outlook As a result of the lower than expected lift ticket visitation during the spring period announced on April 24, 2025, and one-time costs related to the CEO transition announced on May 27, 2025, the Company is updating its guidance for fiscal 2025. The Company now expects net income attributable to Vail Resorts, Inc. to be between $264 million and $298 million, and Resort Reported EBITDA for fiscal 2025 to be between $831 million and $851 million. The guidance reflects the lower than expected lift ticket visitation in the spring period that was partially mitigated by the Company's focus on its resource efficiency transformation plan and strong cost discipline. The updated guidance now includes an estimated $9 million in one-time costs related to the CEO transition, in addition to the estimated $15 million in one-time costs related to the multi-year resource efficiency transformation plan, and the estimated $1 million of acquisition and integration related expenses specific to Crans-Montana. Compared to the original fiscal 2025 guidance, the updated guidance includes an estimated $7 million impact from foreign exchange rates. At the midpoint, the guidance implies an estimated Resort EBITDA Margin for fiscal 2025 to be approximately 28.4% or 29.2% before one-time costs from the resource efficiency transformation plan and CEO transition. The updated guidance also assumes (1) a continuation of the current economic environment and (2) normal weather conditions and operations throughout the Australian ski season and North America summer season. In addition, the updated guidance also reflects foreign currency exchange rate volatility as compared to the assumptions included in our original guidance provided on September 26, 2024. The updated guidance assumes foreign currency exchange rates as of June 4, 2025, including an exchange rate of $0.73 between the Canadian dollar and U.S. dollar related to the operations of Whistler Blackcomb in Canada, an exchange rate of $0.65 between the Australian dollar and U.S. dollar related to the operations of Perisher, Falls Creek and Hotham in Australia, and an exchange rate of $1.21 between the Swiss franc and U.S. dollar related to the operations of Andermatt-Sedrun and Crans Montana in Switzerland, and does not include any potential impacts related to future fluctuations in foreign currency exchange rates, which may be impacted by tariffs, trade disputes, or other factors. The following table reflects the forecasted guidance range for the Company's fiscal year ending July 31, 2025 for Total Reported EBITDA (after stock-based compensation expense) and reconciles net income attributable to Vail Resorts, Inc. guidance to such Total Reported EBITDA guidance. (1) The provision for income taxes may be impacted by excess tax benefits primarily resulting from vesting and exercises of equity awards. Our estimated provision for income taxes does not include the impact, if any, of unknown future exercises of employee equity awards, which could have a material impact given that a significant portion of our awards may be in-the-money depending on the current value of the stock price. (2) Our guidance includes certain forward looking known changes in the fair value of the contingent consideration based solely on the passage of time and resulting impact on present value. Guidance excludes any forward looking change based upon, among other things, financial projections including long-term growth rates for Park City, which such change may be material. Separately, the intercompany loan associated with the Whistler Blackcomb transaction requires foreign currency remeasurement to Canadian dollars, the functional currency of Whistler Blackcomb. Our guidance excludes any forward looking change related to foreign currency gains or losses on the intercompany loans, which such change may be material. Additionally, our guidance excludes the impact of any future sales or disposals of land or other assets which are contingent upon future approvals or other outcomes. (3) Mountain Reported EBITDA also includes approximately $29 million of stock-based compensation, which includes a portion of allocated expense associated with the acceleration of unvested equity awards associated with the CEO transition. (4) Lodging Reported EBITDA also includes approximately $5 million of stock-based compensation, which includes a portion of allocated expense associated with the acceleration of unvested equity awards associated with the CEO transition. (5) The Company provides Reported EBITDA ranges for the Mountain and Lodging segments, as well as for the two combined. The low and high of the expected ranges provided for the Mountain and Lodging segments, while possible, do not sum to the high or low end of the Resort Reported EBITDA range provided because we do not expect or assume that we will hit the low or high end of both ranges. (6) Guidance estimates are predicated on an exchange rate of $0.73 between the Canadian dollar and U.S. dollar, related to the operations of Whistler Blackcomb in Canada; an exchange rate of $0.65 between the Australian dollar and U.S. dollar, related to the operations of our Australian ski areas; and an exchange rate of $1.21 between the Swiss franc and U.S. dollar, related to the operations of Andermatt-Sedrun and Crans-Montana in Switzerland. Capital Structure and Allocation Update As of April 30, 2025, the Company's total liquidity as measured by total cash plus revolver availability and delayed draw term loan availability was approximately $1.6 billion. This includes $467 million of cash on hand, $508 million of U.S. revolver availability and $450 million of U.S. delayed draw term loan availability under the Vail Holdings Credit Agreement, and $215 million of revolver availability under the Whistler Credit Agreement. As of April 30, 2025, the Company's Net Debt was 2.6 times its trailing twelve months Total Reported EBITDA. Regarding the return of capital to shareholders, the Company declared a quarterly cash dividend on Vail Resorts' common stock of $2.22 per share. The dividend will be payable on July 9, 2025 to shareholders of record as of June 24, 2025. In addition, the Company repurchased approximately 0.2 million shares during the quarter at an average price of approximately $161 per share for a total of $30 million. This amount brings the Company's total fiscal year-to-date repurchases to $70 million for a total of 0.4 million shares. Additionally, the Board of Directors increased the Company's authorization for share repurchases by 1.5 million shares to approximately 2.8 million shares. Regarding calendar year 2025 capital expenditures, as previously announced, the Company expects its capital plan for calendar year 2025 to be approximately $198 million to $203 million in core capital, before $46 million of growth capital investments at its European resorts, comprised of $42 million at Andermatt-Sedrun and $4 million at Crans-Montana, and $6 million of real estate related capital projects to complete multi-year transformational investments at the key base area portals of Breckenridge Peak 8 and Keystone River Run, and planning investments to support the development of the West Lionshead area into a fourth base village at Vail Mountain. Including European growth capital investments and real estate related capital, the Company plans to invest approximately $249 million to $254 million in calendar year 2025. Key capital investments include the multi-year transformational investment plans at Park City Mountain, which includes the new Sunrise gondola out of the Canyons base area, along with beginner terrain improvements and restaurant upgrades, in addition to the investments at Andermatt-Sedrun and a six-pack lift at Perisher, new functionality for the My Epic App, more advanced AI capabilities for My Epic Assistant, and technology investments across the Company's ancillary businesses. Commenting on capital allocation, Katz said, "We remain committed to a disciplined and balanced approach as stewards of our shareholders' capital. We continue to prioritize investments that enhance our guest and employee experience, provide high-return capital projects, and enable strategic acquisition opportunities. After these priorities, we focus on returning excess capital to shareholders. In the current environment, the Company looks to balance its approach between share repurchases and dividends. The current dividend level reflects the strong cash flow generation of the business with any future growth in the dividend dependent on a material increase in future cash flows and the Company also maintains an opportunistic approach to share repurchases based on the value of the shares." Season Pass Sales Commenting on the Company's season pass sales for the upcoming North American ski season, Katz said "Pass product sales through May 27, 2025 for the upcoming North American ski season decreased approximately 1% in units and increased approximately 2% in sales dollars as compared to the period in the prior year through May 28, 2024. Given elevated levels of macro-economic volatility that occurred throughout the spring selling period, it is currently unknown what, if any, impact that had on early pass decision making. Pass sales dollars are benefiting from the 7% price increase relative to the 2024/2025 season, partially offset by the mix impact from the growth of Epic Day Pass products. Pass product sales are adjusted to eliminate the impact of foreign currency by applying an exchange rate of $0.73 between the Canadian dollar and U.S. dollar in both periods for Whistler Blackcomb pass sales. Katz continued, "The slight decline in units relative to the prior year season to date period was primarily driven by new pass holders and lower tenured renewing pass holders, which may reflect delayed decision making due to the macro-economic environment. Epic Day Pass products experienced strong unit growth driven by the strength in renewing pass holders. Overall renewing pass holder product net migration was relatively consistent with the prior three years. "The majority of our pass selling season is ahead of us, and we believe the full year pass unit and sales dollar trends will be relatively stable with the spring results. We will provide more information about our pass sales results in our September 2025 earnings release." Regarding Epic Australia Pass sales, Katz commented, "Epic Australia Pass sales through May 28, 2025 increased approximately 20% in units and approximately 8% in sales dollars as compared to the period in the prior year through May 29, 2024. Epic Australia Pass sales are benefitting from the successful introduction of the Epic Australia 4-Day Pass, which is resonating with lower frequency skiers and riders in Australia." Earnings Conference Call The Company will conduct a conference call today at 5:00 p.m. eastern time to discuss the financial results. The call will be webcast and can be accessed at in the Investor Relations section, or dial (800) 245-3047 (U.S. and Canada) or +1 (203) 518-9765 (international). The conference ID is MTNQ325. A replay of the conference call will be available two hours following the conclusion of the conference call through June 12, 2025, at 11:59 p.m. eastern time. To access the replay, dial (800) 723-8184 (U.S. and Canada) or +1 (402) 220-2668 (international). The conference call will also be archived at Vail Resorts is a network of the best destination and close-to-home ski resorts in the world including Vail Mountain, Breckenridge, Park City Mountain, Whistler Blackcomb, Stowe, and 32 additional resorts across North America; Andermatt-Sedrun and Crans-Montana Mountain Resort in Switzerland; and Perisher, Hotham, and Falls Creek in Australia. We are passionate about providing an Experience of a Lifetime to our team members and guests, and our EpicPromise is to reach a zero net operating footprint by 2030, support our employees and communities, and broaden engagement in our sport. Our company owns and/or manages a collection of elegant hotels under the RockResorts brand, a portfolio of vacation rentals, condominiums and branded hotels located in close proximity to our mountain destinations, as well as the Grand Teton Lodge Company in Jackson Hole, Wyo. Vail Resorts Retail operates more than 250 retail and rental locations across North America. Learn more about our company at or discover our resorts and pass options at Forward-Looking Statements Certain statements discussed in this press release and on the conference call, other than statements of historical information, are forward-looking statements within the meaning of the federal securities laws, including the statements regarding fiscal 2025 and calendar year 2025 performance and the assumptions related thereto, including, but not limited to, our expected net income and Resort Reported EBITDA; our expectations regarding our liquidity; expectations related to our season pass products; our expectations regarding our ancillary lines of business; capital investment projects; our calendar year 2025 capital plan; expectations and anticipated benefits of our capital structure; and our expectations regarding our resource efficiency transformation plan. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date hereof. All forward-looking statements are subject to certain risks and uncertainties that could cause actual results to differ materially from those projected. Such risks and uncertainties include but are not limited to risks related to a prolonged weakness in general economic conditions, including adverse effects on the overall travel and leisure related industries and our business and results of operations; risks associated with the effects of high or prolonged inflation, elevated interest rates and financial institution disruptions; unfavorable weather conditions or the impact of natural disasters or other unexpected events; the ultimate amount of refunds that we could be required to refund to our pass product holders for qualifying circumstances under our Epic Coverage program; the willingness or ability of our guests to travel due to terrorism, the uncertainty of military conflicts or public health emergencies, and the cost and availability of travel options and changing consumer preferences, discretionary spending habits; risks related to travel and airline disruptions, and other adverse impacts on the ability of our guests to travel; risks related to interruptions or disruptions of our information technology systems, data security or cyberattacks; risks related to our reliance on information technology, including our failure to maintain the integrity of our customer or employee data and our ability to adapt to technological developments or industry trends; our ability to acquire, develop and implement relevant technology offerings for customers and partners; the seasonality of our business combined with adverse events that may occur during our peak operating periods; competition in our mountain and lodging businesses or with other recreational and leisure activities; risks related to the high fixed cost structure of our business; our ability to fund resort capital expenditures, or accurately identify the need for, or anticipate the timing of certain capital expenditures; risks related to a disruption in our water supply that would impact our snowmaking capabilities and operations; our reliance on government permits or approvals for our use of public land or to make operational and capital improvements; risks related to resource efficiency transformation initiatives; risks related to federal, state, local and foreign government laws, rules and regulations, including environmental and health and safety laws and regulations; risks related to changes in security and privacy laws and regulations which could increase our operating costs and adversely affect our ability to market our products, properties and services effectively; potential failure to adapt to technological developments or industry trends regarding information technology; our ability to successfully launch and promote adoption of new products, technology, services and programs; risks related to our workforce, including increased labor costs, loss of key personnel and our ability to maintain adequate staffing, including hiring and retaining a sufficient seasonal workforce; our ability to successfully integrate acquired businesses, including their integration into our internal controls and infrastructure; our ability to successfully navigate new markets, including Europe, or that acquired businesses may fail to perform in accordance with expectations; a deterioration in the quality or reputation of our brands, including our ability to protect our intellectual property and the risk of accidents at our mountain resorts; risks related to scrutiny and changing expectations regarding our environmental, social and governance practices and reporting; risks associated with international operations, including fluctuations in foreign currency exchange rates where the Company has foreign currency exposure, primarily the Canadian and Australian dollars and the Swiss franc, as compared to the U.S. dollar; changes in tax laws, regulations or interpretations, or adverse determinations by taxing authorities; risks related to our indebtedness and our ability to satisfy our debt service requirements under our outstanding debt including our unsecured senior notes, which could reduce our ability to use our cash flow to fund our operations, capital expenditures, future business opportunities and other purposes; a materially adverse change in our financial condition; adverse consequences of current or future litigation and legal claims; changes in accounting judgments and estimates, accounting principles, policies or guidelines; and other risks detailed in the Company's filings with the Securities and Exchange Commission, including the "Risk Factors" section of the Company's Annual Report on Form 10-K for the fiscal year ended July 31, 2024, which was filed on September 26, 2024. All forward-looking statements attributable to us or any persons acting on our behalf are expressly qualified in their entirety by these cautionary statements. All guidance and forward-looking statements in this press release are made as of the date hereof and we do not undertake any obligation to update any forecast or forward-looking statements whether as a result of new information, future events or otherwise, except as may be required by law. Statement Concerning Non-GAAP Financial Measures When reporting financial results, we use the terms Resort Reported EBITDA, Total Reported EBITDA, Resort EBITDA Margin, Net Debt and Net Real Estate Cash Flow, which are not financial measures under accounting principles generally accepted in the United States of America ("GAAP"). Resort Reported EBITDA, Total Reported EBITDA, Resort EBITDA Margin, Net Debt and Net Real Estate Cash Flow should not be considered in isolation or as an alternative to, or substitute for, measures of financial performance or liquidity prepared in accordance with GAAP. In addition, we report segment Reported EBITDA (i.e. Mountain, Lodging and Real Estate), the measure of segment profit or loss required to be disclosed in accordance with GAAP. Accordingly, these measures may not be comparable to similarly-titled measures of other companies. Additionally, with respect to discussion of impacts from currency, the Company calculates the impact by applying current period foreign exchange rates to the prior period results, as the Company believes that comparing financial information using comparable foreign exchange rates is a more objective and useful measure of changes in operating performance. Reported EBITDA (and its counterpart for each of our segments) has been presented herein as a measure of the Company's performance. The Company believes that Reported EBITDA is an indicative measurement of the Company's operating performance, and is similar to performance metrics generally used by investors to evaluate other companies in the resort and lodging industries. The Company defines Resort EBITDA Margin as Resort Reported EBITDA divided by Resort net revenue. The Company believes Resort EBITDA Margin is an important measurement of operating performance. The Company believes that Net Debt is an important measurement of liquidity as it is an indicator of the Company's ability to obtain additional capital resources for its future cash needs. Additionally, the Company believes Net Real Estate Cash Flow is important as a cash flow indicator for its Real Estate segment. See the tables provided in this release for reconciliations of our measures of segment profitability and non-GAAP financial measures to the most directly comparable GAAP financial measures. Vail Resorts, Inc. Mountain Segment Operating Results (In thousands, except ETP) (Unaudited) Three Months Ended April 30, Percentage Increase Nine Months Ended April 30, Percentage Increase 2025 2024 (Decrease) 2025 2024 (Decrease) Net Mountain revenue: Lift $ 770,259 $ 745,677 3.3 % $ 1,455,600 $ 1,394,526 4.4 % Ski school 160,243 161,248 (0.6) % 300,091 295,055 1.7 % Dining 110,972 109,471 1.4 % 222,507 209,608 6.2 % Retail/rental 113,678 123,262 (7.8) % 278,363 292,892 (5.0) % Other 57,397 56,400 1.8 % 192,378 176,413 9.0 % Total Mountain net revenue 1,212,549 1,196,058 1.4 % 2,448,939 2,368,494 3.4 % Mountain operating expense: Labor and labor-related benefits 256,343 246,563 4.0 % 639,363 611,253 4.6 % Retail cost of sales 30,617 36,668 (16.5) % 86,121 95,666 (10.0) % Resort related fees 55,727 55,945 (0.4) % 107,330 104,208 3.0 % General and administrative 90,678 79,969 13.4 % 281,588 269,490 4.5 % Other 144,413 139,419 3.6 % 389,108 369,848 5.2 % Total Mountain operating expense 577,778 558,564 3.4 % 1,503,510 1,450,465 3.7 % Mountain equity investment income, net 666 1,093 (39.1) % 3,562 1,373 159.4 % Mountain Reported EBITDA $ 635,437 $ 638,587 (0.5) % $ 948,991 $ 919,402 3.2 % Total skier visits 8,609 8,943 (3.7) % 16,912 16,865 0.3 % ETP $ 89.47 $ 83.38 7.3 % $ 86.07 $ 82.69 4.1 % Vail Resorts, Inc. Lodging Operating Results (In thousands, except Average Daily Rate ("ADR") and Revenue per Available Room ("RevPAR")) (Unaudited) Three Months Ended April 30, Percentage Increase Nine Months Ended April 30, Percentage Increase 2025 2024 (Decrease) 2025 2024 (Decrease) Lodging net revenue: Owned hotel rooms $ 15,104 $ 14,978 0.8 % $ 56,618 $ 53,738 5.4 % Managed condominium rooms 32,634 35,390 (7.8) % 71,413 75,701 (5.7) % Dining 14,870 14,482 2.7 % 48,576 46,174 5.2 % Transportation 6,743 7,150 (5.7) % 13,784 15,060 (8.5) % Golf — — nm 8,131 6,541 24.3 % Other 9,308 10,230 (9.0) % 34,109 36,700 (7.1) % 78,659 82,230 (4.3) % 232,631 233,914 (0.5) % Payroll cost reimbursements 4,235 4,825 (12.2) % 11,139 12,779 (12.8) % Total Lodging net revenue 82,894 87,055 (4.8) % 243,770 246,693 (1.2) % Lodging operating expense: Labor and labor-related benefits 31,149 31,852 (2.2) % 100,845 102,478 (1.6) % General and administrative 15,333 14,245 7.6 % 45,820 45,463 0.8 % Other 19,883 20,349 (2.3) % 67,268 65,719 2.4 % 66,365 66,446 (0.1) % 213,933 213,660 0.1 % Reimbursed payroll costs 4,235 4,825 (12.2) % 11,139 12,779 (12.8) % Total Lodging operating expense 70,600 71,271 (0.9) % 225,072 226,439 (0.6) % Lodging Reported EBITDA $ 12,294 $ 15,784 (22.1) % $ 18,698 $ 20,254 (7.7) % Owned hotel statistics: ADR $ 347.01 $ 341.00 1.8 % $ 322.94 $ 317.87 1.6 % RevPAR $ 165.54 $ 166.25 (0.4) % $ 164.03 $ 155.75 5.3 % Managed condominium statistics: ADR $ 517.07 $ 521.58 (0.9) % $ 442.94 $ 454.12 (2.5) % RevPAR $ 206.66 $ 215.53 (4.1) % $ 139.09 $ 142.49 (2.4) % Owned hotel and managed condominium statistics (combined): ADR $ 472.36 $ 475.96 (0.8) % $ 399.57 $ 407.48 (1.9) % RevPAR $ 197.16 $ 204.56 (3.6) % $ 145.47 $ 145.82 (0.2) % Key Balance Sheet Data (In thousands) (Unaudited) As of April 30, 2025 2024 Total Vail Resorts, Inc. stockholders' equity $ 895,375 $ 1,003,508 Long-term debt, net $ 2,106,413 $ 2,700,257 Long-term debt due within one year 590,382 68,470 Total debt 2,696,795 2,768,727 Less: cash and cash equivalents 467,034 705,429 Net debt $ 2,229,761 $ 2,063,298 Reconciliation of Measures of Segment Profitability and Non-GAAP Financial Measures Presented below is a reconciliation of net income attributable to Vail Resorts, Inc. to Total Reported EBITDA for the three and nine months ended April 30, 2025 and 2024. (In thousands) (Unaudited) (In thousands) (Unaudited) Three Months Ended April 30, Nine Months Ended April 30, 2025 2024 2025 2024 Net income attributable to Vail Resorts, Inc. $ 392,752 $ 361,995 $ 465,464 $ 405,782 Net income attributable to noncontrolling interests 21,576 19,388 25,419 22,359 Net income 414,328 381,383 490,883 428,141 Provision for income taxes 131,042 129,280 159,124 151,606 Income before provision for income taxes 545,370 510,663 650,007 579,747 Depreciation and amortization 74,618 68,486 219,358 204,613 (Gain) loss on disposal of fixed assets and other, net (4,267) 571 (3,031) 3,372 Change in fair value of contingent consideration 1,900 36,500 4,079 42,957 Investment income and other, net (3,154) (5,096) (8,668) (13,643) Foreign currency (gain) loss on intercompany loans (1,702) 2,305 (53) 4,230 Interest expense, net 41,317 39,853 125,839 121,168 Total Reported EBITDA $ 654,082 $ 653,282 $ 987,531 $ 942,444 Mountain Reported EBITDA $ 635,437 $ 638,587 $ 948,991 $ 919,402 Lodging Reported EBITDA 12,294 15,784 18,698 20,254 Resort Reported EBITDA* 647,731 654,371 967,689 939,656 Real Estate Reported EBITDA 6,351 (1,089) 19,842 2,788 Total Reported EBITDA $ 654,082 $ 653,282 $ 987,531 $ 942,444 * Resort represents the sum of Mountain and Lodging Presented below is a reconciliation of net income attributable to Vail Resorts, Inc. to Total Reported EBITDA calculated in accordance with GAAP for the twelve months ended April 30, 2025. The following table reconciles long-term debt, net to Net Debt and the calculation of Net Debt to Total Reported EBITDA for the twelve months ended April 30, 2025. The following table reconciles Real Estate Reported EBITDA to Net Real Estate Cash Flow for the three and nine months ended April 30, 2025 and 2024. The following table reconciles Resort net revenue to Resort EBITDA Margin for fiscal 2025 guidance. SOURCE Vail Resorts, Inc.
Cision Canada
3 days ago
- Cision Canada
TD Asset Management Inc. Announces Notional TD ETF Distributions Français
TORONTO, June 5, 2025 /CNW/ - TD Asset Management Inc. ("TDAM") today announced notional non-cash reinvested distributions (each, a "Notional Distribution") for TD Target 2029 Investment Grade Bond ETF and TD Target 2030 Investment Grade Bond ETF (each a "TD ETF"). A Notional Distribution occurs when a distribution from a TD ETF is made in the form of units, and then immediately consolidated with the units held prior to the distribution, so that the total number of units held after the distribution is identical to the number of units held prior to the distribution. The Notional Distributions have been made to all TD ETF unitholders of record as indicated in the table below: Up until each respective record date above, each TD ETF did not qualify as a mutual fund trust under the Income Tax Act (Canada) (the "Tax Act"). Each TD ETF was considered a unit trust, as defined under the Tax Act. For purposes of the "mark-to-market" rules contained in the Tax Act, because more than 50% of the market value of each TD ETF was held by one or more financial institutions, each TD ETF was considered a financial institution for the purposes of the Tax Act. The Tax Act contains special rules for determining the income of financial institutions, including, but not limited to, the realization of all unrealized gains or losses on mark-to-market property held by the financial institution on income account at the end of any given tax year. In acknowledging this change of status, each TD ETF was required to recognize a deemed year-end for tax purposes and distribute any net income and net realized capital gains earned or realized up until the deemed year end (reflected by the record dates indicated above). In early 2026, the tax characteristics of all distributions for 2025 for TD ETFs will be reported to brokers via the Canadian Depository for Securities (CDS). For more information regarding TD ETFs, visit About TD Asset Management Inc. TD Asset Management (TDAM), a member of TD Bank Group, is a North American investment management firm. TDAM offers investment solutions to corporations, pension funds, endowments, foundations and individual investors. Additionally, TDAM manages assets on behalf of almost 2 million retail investors and offers a broadly diversified suite of investment solutions including mutual funds, professionally managed portfolios and corporate class funds. Asset management businesses at TD manage $496 billion in assets. Aggregate statistics are as of March 31, 2025 for TDAM and Epoch Investment Partners, Inc. TDAM operates in Canada and Epoch Investment Partners, Inc. operates in the United States. Both entities are affiliates and are wholly-owned subsidiaries of The Toronto-Dominion Bank. Commissions, management fees and expenses all may be associated with investments in exchange- traded funds (ETFs). Please read the prospectus and ETF Facts before investing. ETFs are not guaranteed, their values change frequently and past performance may not be repeated. ETF units are bought and sold at market price on a stock exchange and brokerage commissions will reduce returns. TD ETFs are managed by TD Asset Management Inc., a wholly-owned subsidiary of The Toronto-Dominion Bank. ® The TD logo and other TD trademarks are the property of The Toronto-Dominion Bank or its subsidiaries. SOURCE TD Asset Management Inc.
Cision Canada
3 days ago
- Cision Canada
Tactical Drones with Intelligence, Surveillance, and Reconnaissance Applications Drastically Improving Operations
PALM BEACH, Fla., June 5, 2025 /CNW/ -- FN Media Group News Commentary - According to a report from industry insiders says that the global military drone market is projected to reach $56.69 billion by 2033, growing from $24.25 billion in 2025, with a CAGR of 11.20%. This growth is driven by increased global security concerns, military modernization, and advancements in unmanned systems. Tactical drones and Intelligence, Surveillance, and Reconnaissance (ISR) applications are significant market drivers, with North America being a major player. The report said: "Based on Type, the market is segmented into Fixed Wing, Rotary Wing, And Hybrid. The Fixed Wing segment accounted for the largest market stake in the global Military Drone Market. This can be attributed to several key factors. Fixed-wing drones offer longer endurance and extended operational ranges than their rotary-wing counterparts, making them well-suited for long-range reconnaissance, surveillance, and target acquisition. Their aerodynamic design allows for efficient flight, enabling them to cover larger areas and stay aloft for extended periods, enhancing their utility in complex and strategic military operations. Based on Range, the Market is segmented into Visual Line of Sight, Extended Visual Line of Sight, and Beyond Line of Sight. The extended Visual Line of Sight segment accounted for the largest market stake in the global Military Drone Market due to its pivotal role in addressing operational challenges. EVLOS operations allow drone operators to maintain control and monitor the drone's flight beyond the pilot's direct line of sight, essential for covering larger areas and conducting missions in complex, geographically diverse environments. This capability is crucial for military applications such as long-range reconnaissance, border surveillance, and monitoring inaccessible or hazardous areas." Active Companies in the markets today include ZenaTech, Inc. (NASDAQ: ZENA), RTX Corporation (NYSE: RTX), AgEagle Aerial Systems Inc. (NYSE: UAVS), Lockheed Martin (NYSE: LMT), Teledyne Technologies Incorporated (NYSE: TDY). Verified Market Research continued: "Based on Technology, the Market is segmented into Remotely operated, Semi-autonomous, and Autonomous. The remotely operated technology segment accounted for the largest market share in the global Military Drone Market due to its fundamental role in enabling precise control and flexibility during missions. Remotely operated drones allow operators to manage and manipulate the aircraft's functions remotely, ensuring real-time responsiveness to dynamic situations on the battlefield. This Technology permits intricate maneuvers, accurate target acquisition, and the ability to adapt to changing scenarios without endangering human pilots. Remotely operated drones also provide a safer option for combat or reconnaissance missions in hazardous environments. Based on Application, the market is segmented into Intelligence, Surveillance, Reconnaissance, Target Acquisition, Combat Operations, Delivery and Transportation, and Others. Intelligence, Surveillance, Reconnaissance, and Target Acquisition application accounted for the most prominent global Military Drone Market share due to their critical role in enhancing military operational capabilities. Military Drone equipped for ISR & TA are adept at gathering real-time intelligence, conducting surveillance over vast areas, and pinpointing targets precisely. These capabilities offer strategic advantages in modern warfare, enabling timely and informed decision-making for tactical maneuvers and mission planning." ZenaTech (NASDAQ: ZENA) Launches Drone as a Service (DaaS) for US Defense and Government Agencies with New Partnerships - ZenaTech, Inc. (FSE: 49Q) (BMV: ZENA) ("ZenaTech") a technology company specializing in AI (Artificial Intelligence) drones, Drone as a Service (DaaS), Enterprise SaaS, and Quantum Computing solutions, today announces the launch of Drone as a Service specifically for US Defense and Government agencies, and two new partnerships with consulting and government relations firms to assist in selling these services. ZenaTech's ZenaDrone subsidiary has retained the services of Bromelkamp Government Relations and Winning Strategies Washington to provide Congressional lobbying and defense business development consulting services. Bromelkamp is a defense-focused business development consulting firm to small and medium technology companies that are growing their business with the US Department of Defense and other security-related federal agencies. Winning Strategies is an independent bipartisan federal government relations and grants procurement firm. "These partnerships will be instrumental in building relationships with the various agencies as we launch our DaaS service and expand our sales efforts in this sector," said Shaun Passley, Ph.D., CEO of ZenaTech. "Bromelkamp and Winning Strategies have decades of defense industry experience and understand the complexities and culture of the military. As defense priorities shift toward autonomy, resilience, and secure supply chains, ZenaTech is uniquely positioned to deliver scalable, mission-ready drone solutions that align with the US military and the defense industry. Our Drone as a Service model is designed to accelerate adoption, lower barriers, and support operational agility," With a growing demand for advanced drone solutions in security, logistics and tactical operations, the DaaS model allows defense customers to deploy mission-specific drone solutions without the need for capital equipment purchases. To accelerate market entry, ZenaTech has onboarded two seasoned military consultants to lead business developments, identify pilot programs, and secure funding partnerships within the defense sector. The ZenaDrone 1000 is an autonomous, military grade aerial solutions built for multi-mission flexibility, featuring a patented foldable-wing design, 40 kg payload capacity, and 1 hour flight time. Its onboard AI, thermal imaging, LiDAR, and multi spectral sensors enable real-time ISR (intelligence, surveillance, and reconnaissance), border patrol, and base surveillance with minimal operator input. The modular cone enables fast swapping of mission-specific payloads- like HD Cameras and sensors, making it ideal for tactical resupply, SAR (search and rescue), infrastructure inspection, and operations in high-risk restricted environments. Rugged, AI-powered and rapidly deployable, the ZenaDrone 1000 enhances situational awareness and operational reach for defense forces. The ZenaDrone IQ Nano and IQ Square are compact, high-performance drone solutions engineered for intelligence, surveillance, and reconnaissance (ISR), indoor security, and tactical inspection in complex military environments, The IQ Nano, excels in GOS-denied environments like military warehouses or confined infrastructure, offering obstacle avoidance, and precise maneuverability. The IQ Square, with extended flight time and payload options, supports ISR, CBRN monitoring and perimeter patrols. Lightweight and field-ready, both drones deliver rapid situational awareness for mission-critical deployments. ZenaTech is actively pursuing Green UAS and Blue UAS certifications to meet stringent federal standards. With recent restrictions on Chinese-made drones in military and government operations, these certifications are mandatory for vendors aiming to participate in DoD and allied agency contracts. ZenaTech's compliant drone solutions open access to high-value defense contracts and align with increasing demand for secure aerial solutions. The DaaS business model offers customers reduced upfront costs and convenience ─ there is no need to purchase drone hardware and software, find a drone pilot, manage maintenance and operation, or acquire regulatory approvals. The model also offers scalability to use more often or less often based on business needs. Continued… Read this full release by visiting: Other recent developments in the markets include: Raytheon, an RTX Corporation (NYSE: RTX) business, was recently awarded a $1.1 billion contract from the U.S. Navy to produce AIM-9X Block II missiles. This is the largest contract awarded for the program and will increase production to 2,500 missiles per year. "This award represents a historic milestone for the AIM-9X program, further emphasizing its importance to the U.S. and partnered nations," said Barbara Borgonovi, president of Naval Power at Raytheon. "Through our partnership with the U.S. Navy, we are well-positioned to support this increased demand." AIM-9X is the most advanced infrared-tracking, short-range, air-to-air and surface-to-air missile that is combat proven in several theaters around the world. It is configured for easy installation on a wide range of modern aircraft and provides proven layered defense with ground-launched capabilities, including the National Advanced Surface-to-Air Missile System, or NASAMS. AgEagle Aerial Systems Inc. (NYSE: UAVS), a leading provider of advanced drone and aerial imaging solutions, recently announced the sale of two eBee VISION drones to the Government of Paraguay, marking a pivotal expansion of AgEagle's presence in Latin America and reinforcing its growing role in global government UAS deployments. AgEagle Aerial CEO Bill Irby commented, "This transaction reinforces the trust that global government agencies are placing in our technology and reflects AgEagle's broader strategy to expand into high-demand international markets," said AgEagle Aerial CEO Bill Irby. "It also highlights our expanding role in delivering advanced unmanned aerial systems (UAS) to public-sector organizations worldwide. We remain committed to empowering military, law enforcement, and civilian authorities with tools that enhance operational efficiency and informed decision-making. As global adoption of UAS solutions accelerates we remain focused on scaling our impact, deepening customer relationships, and delivering long-term value creation through innovation and strategic expansion." Lockheed Martin (NYSE: LMT) recently said that it is pioneering a competitive environment designed to accelerate the testing and operational deployment of artificial intelligence to support warfighters in their missions. Lockheed Martin's AI Fight Club™ is a comprehensive testing ground to simulate how AI systems perform in air, land, sea, and space domains. "There has never been a more important time to prove which implementations of AI technologies are the best, to help the United States stay ahead of the threats facing our nation and allies," said John Clark, Lockheed Martin's senior vice president of Technology and Strategic Innovation. "AI Fight Club uses advanced simulation and visualization to evaluate AI in realistic and complex scenarios that mimic the challenges of modern warfare. Teams with the best AI will battle each other to determine the most robust, reliable and effective models." Teledyne FLIR OEM, part of Teledyne Technologies Incorporated (NYSE: TDY), recently announced Dragoon is using the Prism™ Supervisor and Prism SKR software for its AI-driven object detection, tracking, real-time autonomy flight control, and mission planning capabilities within its long-range unmanned platform prototypes under Project Artemis, a Defense Innovation Unit (DIU) initiative. Project Artemis is a program designed to evaluate and deploy long-range loitering munitions capable of operating in highly contested electromagnetic environments and in large numbers. Dragoon is one of four organizations within Project Artemis tasked to demonstrate low-cost, adaptable, long-range, unmanned aerial systems (UAS) platforms with the potential to maximize operational flexibility. About FN Media Group: DISCLAIMER: FN Media Group LLC (FNM), which owns and operates and is a third party publisher and news dissemination service provider, which disseminates electronic information through multiple online media channels. FNM is NOT affiliated in any manner with any company mentioned herein. FNM and its affiliated companies are a news dissemination solutions provider and are NOT a registered broker/dealer/analyst/adviser, holds no investment licenses and may NOT sell, offer to sell or offer to buy any security. FNM's market updates, news alerts and corporate profiles are NOT a solicitation or recommendation to buy, sell or hold securities. The material in this release is intended to be strictly informational and is NEVER to be construed or interpreted as research material. All readers are strongly urged to perform research and due diligence on their own and consult a licensed financial professional before considering any level of investing in stocks. All material included herein is republished content and details which were previously disseminated by the companies mentioned in this release. FNM is not liable for any investment decisions by its readers or subscribers. Investors are cautioned that they may lose all or a portion of their investment when investing in stocks. For current services performed FNM has been compensated fifty one hundred dollars for news coverage of the current press releases issued by ZenaTech, Inc. by the Company. FNM HOLDS NO SHARES OF ANY COMPANY NAMED IN THIS RELEASE. This release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E the Securities Exchange Act of 1934, as amended and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. "Forward-looking statements" describe future expectations, plans, results, or strategies and are generally preceded by words such as "may", "future", "plan" or "planned", "will" or "should", "expected," "anticipates", "draft", "eventually" or "projected". You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors, and other risks identified in a company's annual report on Form 10-K or 10-KSB and other filings made by such company with the Securities and Exchange Commission. You should consider these factors in evaluating the forward-looking statements included herein, and not place undue reliance on such statements. The forward-looking statements in this release are made as of the date hereof and FNM undertakes no obligation to update such statements.
