Vail Resorts (MTN) Earnings Dates, Call Summary & Reports

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Earnings Data

Report Date

Sep 24, 2026

Before Open (Confirmed)

Period Ending

2026 (Q4)

Consensus EPS Forecast

-5.22

Last Year’s EPS

-5.08

Same Quarter Last Year

Analyst Consensus

Moderate Buy

Based on 10 Analysts Ratings

Earnings Call Summary

Q3 2026

Earnings Call Date:Jun 08, 2026|

% Change Since:

Earnings Call Sentiment|Neutral

The call reflects a mixed outlook: significant negative near-term impacts from unprecedented adverse weather led to notable declines in visitation, revenue, and EBITDA, and prompted a downward update to guidance. Offsetting these headwinds, management highlighted strong operational execution (record guest scores, full staffing), meaningful outperformance versus the broader industry on lift ticket visitation, successful product experiments (Epic Friend, super-advanced tickets, young adult pass), substantial cost savings from the Resource Efficiency Transformation Plan, and a healthy balance sheet. Given the balance of material short-term financial hits and clear strategic/operational progress and mitigants, the overall sentiment is balanced.

Company Guidance

Vail updated fiscal 2026 guidance with resort reported EBITDA now expected at $735–$755 million and net income attributable to Vail Resorts at $128–$162 million (the EBITDA midpoint implies a ~12% year‑over‑year decline and is ~14% below the original FY26 guidance), and cash taxes of $75–$85 million. Management reiterated balance‑sheet and capital plans with liquidity of about $1.1 billion, net leverage ~3.5x LTM EBITDA, core capital spending of $215–$220 million (total capex $234–$239 million), a maintained quarterly dividend of $2.22/share and ~$45 million of buybacks YTD. The company expects to exceed its two‑year Resource Efficiency Transformation target (achieving $106 million of annualized efficiencies by year‑end, plus an incremental $30 million in FY28 and ~$45 million of incremental efficiencies year‑over‑year before $13 million of one‑time costs), and cited pass and lift‑ticket trends feeding the guidance (spring pass units down ~10% and dollars including tax down ~5%, pass days sold down ~8%, North America committed visitation down ~17%, lift‑ticket visitation down ~10%, with early strength in Australia: EPIC Australia units +26% and dollars +31%).

Operational resilience and record guest experience

Achieved record guest experience scores with year-over-year increases at every resort in the Rockies despite severe weather. Maintained full seasonal staffing, strong seasonal employee return rates, improved employee engagement, and reduced employee injuries per labor hour.

Outperformance vs. industry on lift ticket visitation

Company lift ticket visitation declined ~10% while U.S. industry lift ticket visitation was down ~20%; in the Northeast Vail Resorts' lift ticket visits increased ~8% versus industry down ~8%. Epic Friend benefit tickets drove a 10% increase in visitation from benefit tickets.

Effective pricing and product execution drove advanced sales behavior

Super-advanced lift tickets (30% discount for purchases ~1 month in advance) produced a 65% increase in tickets sold >28 days out. Expanded pass benefits and product adjustments improved post-Labor Day sales trends by ~5 percentage points versus earlier selling period.

Resource Efficiency Transformation delivering material savings

On track to exceed the initial 2-year target with expected $106 million of annualized efficiencies by year-end (above the $100M target) and an additional $30 million of savings planned for fiscal 2028; implies an incremental $45 million of efficiencies year-over-year (before $13M of one-time costs).

Strong balance sheet and disciplined capital allocation

Ended quarter with approximately $1.1 billion in liquidity, net leverage ~3.5x trailing 12 months EBITDA, reaffirmed capital plans ($215M–$220M core capex; $234M–$239M total capex), maintained quarterly dividend of $2.22 per share, and repurchased ~$45M of stock YTD.

Positive momentum in Australia and targeted product wins

EPIC Australia PASS units were up ~26% and dollars up ~31%. New young adult pass product is pacing meaningfully ahead of other age groups and unlimited/core Epic products are outperforming frequency products.

Vail Resorts (MTN) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

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MTN Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Sep 24, 2026	2026 (Q4)	-5.22 / -	-5.08	―	―	―
Jun 08, 2026	2026 (Q3)	8.94 / 8.81	10.54	-16.41% (-1.73)	―
Mar 09, 2026	2026 (Q2)	6.00 / 5.87	6.56	-10.52% (-0.69)	―
Dec 10, 2025	2026 (Q1)	-5.16 / -5.20	-4.61	-12.80% (-0.59)	―
Sep 29, 2025	2025 (Q4)	-4.72 / -5.08	-4.67	-8.78% (-0.41)	―
Jun 05, 2025	2025 (Q3)	10.04 / 10.54	9.54	10.48% (+1.00)	―
Mar 10, 2025	2025 (Q2)	6.43 / 6.56	5.76	13.89% (+0.80)	―
Dec 09, 2024	2025 (Q1)	-5.00 / -4.61	-4.6	-0.22% (-0.01)	―
Sep 26, 2024	2024 (Q4)	-4.23 / -4.67	-3.35	-39.40% (-1.32)	―
Jun 06, 2024	2024 (Q3)	10.00 / 9.54	8.18	16.63% (+1.36)	―

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

MTN Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
Jun 08, 2026	$137.21	$131.26	-4.34%
Mar 09, 2026	$131.69	$132.92	+0.93%
Dec 10, 2025	$136.97	$149.74	+9.32%
Sep 29, 2025	$141.16	$142.60	+1.02%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.