Whistler Blackcomb sees decline in ski visits amid poor weather, Q2 profit down

WHISTLER, B.C. – Whistler Blackcomb Holdings Inc. (TSX:WB) says skier visits were down 9.3 per cent during the past winter season, partly because of unusually warm and wet weather and below-average snowfall.

The B.C.-based resort operator says it was able to offset some of the negative financial impact of the poor conditions through higher pricing and guest spending at its retail, rental and snow school businesses.

Average revenue per visit was up 12.7 per cent, to $119.38 from $105.88 a year earlier, but total revenue for the three months ending March 31 was down 1.4 per cent to $136.8 million, from $138.8 million.

Still, Whistler Blackcomb’s second-quarter net profit was down 10 per cent from the same time last year and adjusted earnings slipped three per cent.

Net income dropped to $46.7 million from $52 million in last year’s second quarter, while adjusted earnings fell to $76.1 million from $78.6 million.