Vail Resorts reported fiscal fourth quarter 2026 revenue of $278.1 million and a diluted loss per share of $5.34, both outperforming analyst estimates. While financial results showed year-over-year improvement in the seasonally slow period, advance commitments for the upcoming 2026/2027 ski season showed significant weakness following a historically challenging winter in the western United States.
Key Highlights
- Advance pass product units for the 2026/2027 season fell 12% YoY through September 18, 2026, while sales dollars decreased 6% due to weakness in lower-frequency destination products.
- Fourth quarter Resort Reported EBITDA improved to a loss of $122.4 million compared to a loss of $123.6 million in the prior year, despite Australian snowfall being 57% below the 10-year average.
- Full-year fiscal 2026 Resort Reported EBITDA declined 11.7% to $745.7 million as historically low snowfall in the Rockies and Tahoe impacted visitation for both local and destination guests.
- Initial fiscal 2027 guidance projects Resort Reported EBITDA of $805 million to $865 million, assuming normal weather and $25 million in incremental efficiency plan savings.