Vail Resorts Shares Slip After Earnings Miss and Lowered Outlook

Core Viewpoint - Vail Resorts, Inc. reported disappointing second-quarter results, missing Wall Street expectations and lowering its full-year guidance due to adverse weather conditions affecting its ski destinations [1] Financial Performance - The company posted adjusted earnings per share of $5.87 for the quarter ended January 31, falling short of the analyst consensus of $6.25 by $0.38 [2] - Revenue for the quarter totaled $1.08 billion, below the estimated $1.12 billion and down 4.7% compared to the same period last year [2] Weather Impact - The decline in performance was primarily due to the lowest snowfall in over three decades at the company's Colorado and Utah resorts, along with warmer temperatures that limited terrain availability [3] - Visitation decreased by 13% during the quarter, although total lift revenue only dropped 2.9%, supported by a 3% increase in North American pass sales revenue [3] Future Guidance - The company now anticipates fiscal 2026 net income to be between $144 million and $190 million, with Resort Reported EBITDA projected in the range of $745 million to $775 million [4] - The midpoint of $760 million represents a significant reduction from previous expectations, reflecting ongoing weather challenges that continue to limit terrain availability across the Rockies [4] Year-to-Date Performance - Resort Reported EBITDA for the quarter declined by $38.4 million, or 8.3%, to $421.3 million compared to the prior year [5] - As of March 1, season-to-date skier visits were down 11.9% year over year, while total lift revenue fell by 3.6% [5]