Vail Resorts Lowers Fiscal 2026 Guidance After Snow-Challenged Q2
Vail Resorts reported Q2 FY2026 net income of $210 million and Resort Reported EBITDA of $421.3 million, both down from a year earlier due to a snow-starved winter in the Rockies. Season-to-date metrics also showed declines in skier visits and lift revenue. The company cut its fiscal 2026 guidance to net income of $144–$190 million and Resort Reported EBITDA of $745–$775 million. It declared a quarterly dividend of $2.22 per share and bought back about 0.3 million shares in the quarter. Liquidity was roughly $1.1 billion, with net debt around 2.55 billion and a 3.1x trailing EBITDA multiple. Core capital plans for 2026 are about $215–$220 million, plus $234–$239 million including growth, supported by ongoing Resource Efficiency Transformation efforts.
