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Vail Resorts Reports Fourth Quarter and Full Year Fiscal 2026 Results and Provides Fiscal 2027 Outlook

Vail Resorts reported a significant profit decline for fiscal year 2026, with net income falling to $147.5 million from $280 million the previous year. The company attributes the slump to exceptionally challenging weather, which caused skier visits to drop 13.4%. Season-to-date pass product sales for 2026-27 have fallen 12%. Despite these losses, the company maintains a US$2.22 quarterly dividend and predicts a significant recovery for fiscal 2027, while introducing new premium private lessons and digital school expansions to increase higher-touch service revenue.

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  • ✓ Net income for fiscal year 2026 was $147.5 million, down from $280 million the prior year.
  • ✓ Skier visits decreased by 13.4% across the company.
  • ✓ Pass product sales for the 2026-27 season declined by 12%.
  • ✓ Fiscal 2026 total net revenue was $2.88 billion.
🛡️ Source Corroboration: 12 independent reporting domains (95% confidence) ⏱ Read time: ~2 min

What changed

Vail Resorts released its fiscal 2026 full-year results and provided an outlook for fiscal 2027.

Live updates

  1. Vail Resorts Net Income Drops to $147.5 Million Following Severe Winter

    Vail Resorts reported a significant profit decline for fiscal year 2026, with net income falling to $147.5 million from $280 million the previous year. The company attributes the slump to exceptionally challenging weather, which caused skier visits to drop 13.4%. Season-to-date pass product sales for 2026-27 have fallen 12%. Despite these losses, the company maintains a US$2.22 quarterly dividend and predicts a significant recovery for fiscal 2027, while introducing new premium private lessons and digital school expansions to increase higher-touch service revenue.

    Why it matters

    The company's financial health relies heavily on recurring advance pass sales and predictable snowfall. A historically bad winter has forced the firm to borrow money to maintain dividend payments. This volatility tests the resilience of Vail's business model against extreme weather cycles.

    What is confirmed

    • Net income for fiscal year 2026 was $147.5 million, down from $280 million the prior year.
    • Skier visits decreased by 13.4% across the company.
    • Pass product sales for the 2026-27 season declined by 12%.
    • Fiscal 2026 total net revenue was $2.88 billion.
    • Resort Reported EBITDA for the fiscal year reached $745.7 million.
    • The company affirmed a quarterly dividend of US$2.22.
    • Vail Resorts announced the Epic Ascent premium private lesson experience and an expansion of the My Epic app-based Ski and Ride School.

    Still unconfirmed

    • The company is borrowing money to pay its 6.47% dividend.
    • The CEO described the recent weather as the worst the company has ever faced.

    What to watch next

    • Actual snowfall levels for the 2026-27 winter season
    • Fiscal 2027 quarterly earnings reports to verify the predicted recovery
    • Customer adoption rates for the Epic Ascent premium lessons
    Sources used for this update (16)
    1. WSJ — Vail Resorts’ Ski Pass Sales Tumble, Signaling Another Tough Winter Ahead
    2. Seeking Alpha — Vail Resorts' FY26 profit plunges after another tough snow season (MTN:NYSE)
    3. GuruFocus — MTN SWOT Analysis: Financial Resilience Amidst Market Challenges Revealed in 10-K Filing
    4. Barron's — Vail Resorts Stock: Ski Pass Sales Drop 12% After Hard Winter
    5. Vail Resorts — Vail Resorts Reports Fourth Quarter and Full Year Fiscal 2026 Results and Provides Fiscal 2027 Outlook
    6. unofficialnetworks.com — Vail Resorts Anticipates Rocky Year Ahead
    7. www.denverpost.com — Vail Resorts reports lagging Epic Pass sales but predicts ‘significant recovery’ after last year’s historically bad ski season
    8. www.prnewswire.com — Vail Resorts Reports Fourth Quarter and Full Year Fiscal 2026 ...
    9. finance.yahoo.com — Vail Resorts Reports Fourth Quarter and Full Year Fiscal 2026 ...
    10. finance.yahoo.com — Vail Resorts fiscal 2026 full-year earnings results
    11. finance.yahoo.com — Is Vail’s Premium Lessons And 2027 Guidance Altering The Investment Case For Vail Resorts (MTN)?
    12. 247wallst.com — Vail Resorts’ 6.47% Dividend Faces Weather Risk as Free Cash Flow Falls Short
    confidence 95%
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