Upcoming ski-season pass sales fell 12% through mid-September
Vail Resorts logged a wider fiscal fourth-quarter loss and near-flat revenue as it wrapped a year marked by unfavorable skiing weather across the western U.S. and Australia, and reported a double-digit decline in early pass-product sales for the upcoming 2026-27 North American ski season.
The company posted a loss attributable to Vail of $190.2 million, or $5.34 a share, for the quarter, compared with a loss of $182.4 million, or $4.99 a share, a year earlier. Revenue rose 0.3% to $278.1 million, ahead of the $269.3 million analysts had forecast, according to FactSet.
Vail attributed the results to poor snowfall. Conditions in Australia were unfavorable during the quarter, with cumulative snowfall about 57% below the 10-year average, the company said. That pressured both visitation and revenue.
Vail also reported that pass product unit sales for the upcoming 2026-27 North American ski season decreased about 12% through September 18 compared with the same point a year earlier. Days sold and sales dollars also declined.
“This past winter was one of the most challenging winters in history across the western U.S. for the ski industry, which negatively impacted financial performance for the year,” Chief Executive Rob Katz said. Conditions were especially severe in the Rockies, where snowfall and snowpack were near historic lows, Katz said.
For the new fiscal year, Vail projected net income attributable to the company of $158 million to $233 million, with analysts forecasting $207.4 million, according to FactSet. The guidance incorporates an accelerated realization of $5 million from the next phase of Vail’s turnaround plan. The company also expects $25 million in savings during fiscal year 2028 that includes a portion of capital savings.