Vail Resorts (NYSE: MTN) reported Q2 EPS of $5.87, $0.38 worse than the analyst estimate of $6.25. Revenue for the quarter came in at $1.08 billion versus the consensus estimate of $1.12 billion.

Fiscal Year 2026 Guidance

Commenting on Fiscal 2026 guidance, Katz said \"Due to the persistent, historically challenging weather conditions in the Rockies, which continued to limit terrain availability, the Company is reducing its fiscal 2026 guidance. While we are lowering our estimates for the fiscal year, given the unprecedented weather in the Rockies, the impact from conditions was mitigated by our advance commitment strategy and resource transformation efforts. We are proud of the resilience of the business model and execution of our teams at our resorts that are delivering on the experience for our guests.\"

The Company now expects fiscal 2026 Net Income and Resort EBITDA guidance as follows:

Net income attributable to Vail Resorts, Inc. of $144 million to $190 million.
Resort Reported EBITDA of $745 million to $775 million. At the midpoint, the guidance implies an estimated Resort EBITDA margin for fiscal 2026 of 26.4%, or 26.9% before one-time costs from the Resource Efficiency Transformation plan.
Resource Efficiency Transformation plan remains on track to achieve an incremental $42 million of efficiencies over the prior year and the Company now expects to deliver $106 million of annualized cost efficiencies, representing a $6 million increase above the original two-year plan.

For earnings history and earnings-related data on Vail Resorts (MTN) click here.