Vail Resorts FY26 Net Income Halves to $147.5M; Pass Sales Slide 12%
MTN sits 17% above its 52-week low of $118.51 on elevated volume (2.1× avg).
Summary
Vail Resorts reported fiscal 2026 net income of $147.5 million, down 47% from $280.0 million a year earlier, as a historically poor snow season crushed skier visits. Resort Reported EBITDA fell 11.7% to $745.7 million. The company also disclosed that season pass unit sales for the upcoming 2026/2027 season are down 12% through September 18, with sales dollars down 6%. Fiscal 2027 guidance calls for net income of $158 million to $233 million and Resort EBITDA of $805 million to $865 million, implying a meaningful recovery but still below pre-weather levels, driven by cost transformation savings. This follows the activist campaign by Oasis Management, which now holds a 7.4% stake and is pushing for board changes. The weak pass sales trend is a key concern for the upcoming season, and the company's ability to recapture demand through lift tickets will be critical. The earnings call is scheduled for 5:00 p.m. Eastern today. Vail Resorts declared a quarterly cash dividend of $2.22 per share, payable October 27, 2026 to shareholders of record October 8, 2026.
Updated with an SEC 8-K filing · What changed
Updates
· SEC 8-K — Vail Resorts declared a quarterly cash dividend of $2.22 per share, payable October 27, 2026 to shareholders of record October 8, 2026.
At the time of this announcement, MTN was trading at $138.09 on NYSE in the Trade & Services sector, with a market capitalization of approximately $4.9B. The 52-week trading range was $118.51 to $163.34. This news item was assessed with negative market sentiment and an importance score of 8 out of 10. Source: PR Newswire.