Overview
- Vail reported weaker-than-expected fiscal third-quarter results with EPS of $8.81 and revenue of $1.21 billion, short of analyst estimates and down from the prior year.
- Management said extremely unfavorable winter weather drove meaningful losses in the quarter, with visitation down about 15%, resort net revenue down about 7%, and Rockies snowfall roughly 55% below the 30-year average.
- The company trimmed full-year fiscal 2026 guidance to net income of $128 million–$162 million and Resort Reported EBITDA of $735 million–$755 million to reflect the late-season weakness.
- Advance pass metrics through May 26 showed early 2026/2027 North American pass-sales units down roughly 10%, days sold down about 8%, and sales dollars down about 5%, a signal investors and management are watching closely.
- Shares fell roughly 5% after the release and several analysts cut price targets as Vail stressed capital projects, snowmaking and its integrated pass strategy as the route to recovering visitation and revenue.