US EditionVail Resorts Reports First Quarter Fiscal 2026 and Season Pass Sales Results, Reaffirms Guidance and Announces 2026 Capital Plan
Vail Resorts plans $234 million capital investment for 2026, including technology and resort upgrades, while maintaining fiscal 2026 guidance amid early-season challenges, CEO said.
- On December 10, 2025, Vail Resorts reaffirmed fiscal 2026 guidance with net income of $201 million to $276 million and Resort reported EBITDA of $842 million to $898 million, and announced Celeste Bergon will join as Chief Revenue Officer next month.
- Management said the guidance reflects price increases, ancillary revenue, approximately $38 million in incremental efficiencies from the Resource Efficiency Transformation Plan, approximately 2.3 million committed pass holders generating $1 billion, and liquidity of $1.5 billion with net debt of 3.0 times trailing twelve months EBITDA.
- Included in the calendar‑year 2026 plan, capital investments total $234 million to $239 million with core capital of $215 million to $220 million, while shareholders receive a $2.22 dividend and $25 million in share repurchases.
- Early results show the launch of Epic Friends tickets and a 30% advance lift-ticket discount helped improve post-Labor Day pass sales, despite a net loss of $186.8 million and Resort EBITDA loss of $139.7 million in fiscal Q1.
- The transformation plan projects about $75 million in cumulative efficiencies before $14 million in one-time costs in fiscal year 2026, while management prioritizes My Epic app and e-commerce platform upgrades for fiscal year 2027.
21 Articles
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Vail Resorts (MTN) Q1 2026 Earnings Transcript
Aspen Daily News
Vail Resorts Reports First Quarter Fiscal 2026 and Season Pass Sales Results, Reaffirms Guidance and Announces 2026 Capital Plan
BROOMFIELD, Colo., Dec. 10, 2025 /PRNewswire/ -- Vail Resorts, Inc. (NYSE: MTN) today reported results for the first quarter of fiscal 2026 ended October 31, 2025, provided North American season pass sales results for the 2025/2026 ski season, reaffirmed full-year…
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