Vail Resorts Q3 revenue falls, misses EPS estimates on challenging weather

Vail Resorts

08/06/2026 21:20

Overview
U.S. ski resort operator's Q3 resort net revenue fell 7% yr/yr due to unfavorable weather
Q3 EPS missed analyst expectations
Company reduced fiscal 2026 guidance and early season pass sales declined for 2026/2027

Outlook
Vail Resorts cuts fiscal 2026 net income guidance to $128 mln-$162 mln
Company lowers fiscal 2026 Resort Reported EBITDA forecast to $735 mln-$755 mln
Season pass sales for 2026/2027 North American ski season down 10% in units so far

Result Drivers
UNFAVORABLE WEATHER - Co said extremely poor weather in the western U.S. drove lower visitation and revenue, especially at destination resorts in the Rockies and Tahoe
COST DISCIPLINE - Cost management and resource efficiency transformation plan partially offset weather-related declines, per CEO Rob Katz
PASS SALES MIX - Young Adult and Unlimited pass products outperformed other categories despite overall decline in pass sales

Company press release: ID:nPn9xYcWfa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q3 Resort Net Revenue
 
$1.21 bln
 
Q3 EPS
Miss
$8.81
$8.96 (10 Analysts)
Q3 Net Income
 
$340.22 mln
 
Q3 Income from Operations
Miss
$494.13 mln
$510.69 mln (9 Analysts)

Analyst Coverage
The current average analyst rating on the shares is "hold" and the breakdown of recommendations is 5 "strong buy" or "buy", 7 "hold" and 1 "sell" or "strong sell"
The average consensus recommendation for the leisure & recreation peer group is "buy."
Wall Street's median 12-month price target for Vail Resorts Inc is $147.00, about 8.6% above its June 5 closing price of $135.37
The stock recently traded at 21 times the next 12-month earnings vs. a P/E of 19 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)