Vail Resorts misses third quarter fiscal 2026 estimates and cuts guidance amid weak visitation and soft pass sales.

Vail Resorts reported third quarter fiscal 2026 revenue of $1.21 billion and EPS of $8.81, missing analyst estimates of $1.28 billion and $8.97, respectively. The company lowered its full-year guidance, citing unfavorable weather conditions that significantly impacted visitation and early demand for season passes.

Key Highlights

• The company cut its full-year fiscal 2026 guidance for Resort Reported EBITDA to a new range of $735 million to $755 million.
• Early season pass sales for the upcoming 2026/2027 North American ski season decreased by 5% in sales dollars and 10% in units sold through late May compared to the prior year.
• Total skier visits for the quarter fell by 15.5% year-over-year, which management attributed to unfavorable weather conditions in Western U.S. resorts.