Vail Resorts (NYSE:MTN) Announces Quarterly Earnings Results, Misses Expectations By $0.19 EPS

Vail Resorts (NYSE:MTN) released its earnings results on Monday. The company reported $5.87 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $6.06 by ($0.19), FiscalAI reports. The business had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.11 billion. Vail Resorts had a net margin of 7.89% and a return on equity of 28.14%. The business’s revenue was down 4.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.56 EPS.

Here are the key takeaways from Vail Resorts’ conference call:

• Unprecedented Rockies weather severely pressured results — Rockies snowfall was down ~43% in Q2, skier visitation fell ~12–13% season-to-date, and Vail reduced fiscal 2026 guidance to Resort Reported EBITDA $745M–$775M and net income $144M–$190M, with greater variability in the outlook due to ongoing weather uncertainty.
• The company highlights the stability of its advanced-commitment model — pass holders now represent ~75% of visits, pass units grew ~55% over five years, and pass revenue growth helped limit lift revenue declines to ~3% despite a meaningful drop in overall visitation.
• Management is pushing product and pricing changes to drive demand, including a 20% discount for ages 13–30, ~3–4% blended price increases on Epic/Epic Local (plus ~3% tax passthrough), and new offers like Epic Friend tickets and one‑month advance lift tickets that are showing early traction.
• Operational and financial resilience is being reinforced — the Resource Efficiency Transformation Plan will exceed the $100M target by about $6M, FY26 incremental savings of ~$42M (before ~$15M one‑time), liquidity ~ $1.1B, net leverage ~3.1x, retirement of $525M convertible debt, and an amended credit facility to 2031.
• Company is maintaining capital priorities and guest investments — reaffirmed CY2026 core capex of $215M–$220M (total $234M–$239M), held the quarterly dividend at $2.22/sh, repurchased $45M YTD, and reported record-high system-wide guest satisfaction while accelerating marketing and guest‑facing technology (CMS, app enhancements) to support future growth.

Vail Resorts Stock Performance

Shares of MTN stock opened at $135.66 on Wednesday. The stock has a market capitalization of $4.85 billion, a PE ratio of 22.13, a PEG ratio of 8.17 and a beta of 0.78. The business’s 50 day simple moving average is $137.54 and its 200 day simple moving average is $144.84. The company has a debt-to-equity ratio of 5.52, a current ratio of 0.54 and a quick ratio of 0.46. Vail Resorts has a one year low of $126.15 and a one year high of $175.51.

Vail Resorts Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 9th. Investors of record on Thursday, March 26th will be issued a $2.22 dividend. The ex-dividend date is Thursday, March 26th. This represents a $8.88 annualized dividend and a yield of 6.5%. Vail Resorts’s dividend payout ratio is presently 130.21%.

Key Vail Resorts News

Here are the key news stories impacting Vail Resorts this week:

• Positive Sentiment: Quarterly dividend maintained — Vail declared a $2.22 quarterly dividend (ex‑dividend Mar 26), implying a roughly 6.6% yield that can attract income‑focused buyers and provide floor support to the share price.
• Positive Sentiment: Some analysts still see upside — Select firms (Stifel, Truist) left buy ratings / high price targets after the print (Truist PT reduced to $217; Stifel PT to $172), indicating conviction in the longer‑term pass model and recovery potential. Truist Price Target
• Neutral Sentiment: Brokerage consensus is mixed/tepid — a recent survey gives MTN an average “Hold” rating, reflecting divided views on near‑term weather risk versus long‑term fundamentals. Brokerage Ratings
• Neutral Sentiment: Business model cushions some downside — MarketBeat notes Epic Pass penetration and geographic diversification limited the lift‑revenue decline, suggesting resilience if visitation normalizes. MarketBeat Analysis
• Negative Sentiment: Q2 results missed and FY26 guidance cut — Vail reported EPS of $5.87 and $1.08B revenue (misses) and cut fiscal‑year net income guidance to $144M–$190M from prior $201M–$276M — the primary driver of the share weakness. Earnings Release
• Negative Sentiment: Skier visits and revenue plunged after an unusually warm, low‑snow season in the Rockies — multiple reports call this one of the worst winters in decades, cutting visitation ~12% and hurting resort EBITDA. MSN Coverage
• Negative Sentiment: Short interest has risen sharply — shorted shares increased ~18% in February to ~4.95M shares (about 14% of float) with ~5.8 days‑to‑cover, raising the risk of continued downside pressure if sentiment deteriorates.
• Negative Sentiment: Several brokers trimmed targets/ratings after the print — JPMorgan, Barclays and others cut price targets or moved to neutral/underweight, signaling reduced near‑term expectations. Analyst Moves

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft reduced their price target on shares of Vail Resorts from $159.00 to $151.00 and set a “hold” rating on the stock in a research note on Friday, March 6th. JPMorgan Chase & Co. lowered their price objective on shares of Vail Resorts from $172.00 to $156.00 and set a “neutral” rating for the company in a research report on Tuesday. BNP Paribas Exane reissued an “outperform” rating on shares of Vail Resorts in a research note on Tuesday. Jefferies Financial Group upgraded shares of Vail Resorts from a “hold” rating to a “buy” rating and raised their target price for the company from $159.00 to $165.00 in a research report on Tuesday, January 13th. Finally, Truist Financial decreased their target price on shares of Vail Resorts from $234.00 to $217.00 and set a “buy” rating on the stock in a research note on Tuesday. Five equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Vail Resorts currently has an average rating of “Hold” and a consensus price target of $169.82.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Arrowstreet Capital Limited Partnership increased its position in shares of Vail Resorts by 41.1% during the third quarter. Arrowstreet Capital Limited Partnership now owns 554,307 shares of the company’s stock worth $82,908,000 after buying an additional 161,562 shares during the period. UBS Group AG lifted its holdings in Vail Resorts by 22.4% in the third quarter. UBS Group AG now owns 713,531 shares of the company’s stock valued at $106,723,000 after buying an additional 130,460 shares during the period. Connor Clark & Lunn Investment Management Ltd. lifted its holdings in Vail Resorts by 1,776.4% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 113,956 shares of the company’s stock valued at $17,044,000 after buying an additional 107,883 shares during the period. Marshall Wace LLP boosted its position in Vail Resorts by 732.0% during the third quarter. Marshall Wace LLP now owns 112,219 shares of the company’s stock valued at $16,785,000 after acquiring an additional 98,731 shares during the last quarter. Finally, HRT Financial LP bought a new stake in Vail Resorts during the fourth quarter valued at $12,878,000. Institutional investors and hedge funds own 94.90% of the company’s stock.

Vail Resorts Company Profile

Vail Resorts, Inc is a leading mountain resort company that owns and operates an integrated network of ski areas, hotels, restaurants and retail outlets. The company’s signature Epic Pass program offers skiers and snowboarders season‐long access to its portfolio of resorts, while ancillary services such as ski and snowboard schools, equipment rental and retail drive additional revenue.

Headquartered in Broomfield, Colorado, Vail Resorts was formed in 1997, building on the legacy of Vail Associates, which opened the Vail ski area in 1962.