#United States #Vail Resorts #fiscal results #Broomfield, Colorado #Rocky Mountains

Vail Resorts Reports Second Quarter Fiscal 2026 Results

Vail Resorts, Inc. (NYSE: MTN) announced its financial performance for the second quarter of fiscal year 2026, concluding on January 31, 2026. The report reveals a net income of $210 million, a decline from $244.4 million in the previous year, alongside a $421.3 million EBITDA, compared to $459.7 million last year.

Key Highlights

• - The company has revised its fiscal guidance for 2026, anticipating net income to range between $144 million to $190 million and EBITDA across $745 million to $775 million.
• - Additionally, the Board declared a quarterly cash dividend of $2.22 per share, scheduled for payment on April 9, 2026, to shareholders on record as of March 26, 2026.
• - The reduction in income and EBITDA reflects the adverse weather conditions experienced this winter, marking one of the least favorable seasons with the lowest snowfall in over 30 years for their Colorado and Utah resorts.

CEO Statement

CEO Rob Katz noted the extreme weather challenges and emphasized the company's commitment to maintaining operations while focusing on optimizing visitor experiences. He commended the operational teams for their performance, resulting in record guest satisfaction despite the tough conditions. Katz concluded with confidence in the company’s ability to provide guests with exceptional experiences and sustainable long-term shareholder value.

Operating Results

The adverse weather significantly impacted the Resort's net revenue, which fell by $53.2 million (4.7%) from the prior year, attributed largely to reduced visitation and ancillary spending. Although total lift revenue saw a decrease of 2.9%, the company managed to boost its North American Pass Sales Revenue by 3% as the season commenced.

For the season leading up to March 1, 2026, total skier visits decreased by 11.9%, with ski school revenue down by 8.2% and dining revenue declining by 8.6%. Retail and rental sectors showed a downturn as well, down 5.7% compared to the previous year.

Adjusted Financial Outlook

Due to persistent adverse weather impacting terrain availability, Vail Resorts has adjusted its fiscal year predictions downward. The current expectations account for favorable factors including their advanced commitment strategy and ongoing resource transformation efforts, which have helped mitigate losses from extreme weather.

• - Net income anticipations range from $144 million to $190 million.
• - Resort Reported EBITDA is now projected between $745 million and $775 million, with an expected EBITDA margin hovering at 26.4%.

Financial Health

Despite current challenges, Vail Resorts reflects confidence in its solid cash generation capabilities, boasting a liquidity of approximately $1.1 billion as of January 31, 2026. This would enable them to manage their operations effectively amidst fluctuating external circumstances.

Future Prospects

Moving forward, Vail Resorts plans to continue its strategic focus on enhancing guest experiences and establishing long-term value through sustainable practices, aiming to achieve a zero net operating footprint by 2030. The company also intends to uphold its capital spending plans of $215 million to $220 million for core projects.

The company will have a conference call to discuss these results and future projections for stakeholders and investors at 5:00 p.m. Eastern time today. This will be accessible online or via specific phone lines provided.