Revenue Decline

Vail Resorts (MTN) reported Q3 2026 revenue of $1.21 billion, a 7 % decline year‑over‑year and just meeting consensus estimates. Earnings per share were $8.81, $0.16 below the Zacks Consensus Estimate of $8.97. Net revenue fell 6.8 % in the Mountain segment, 7 % in Resort revenue, and 9.1 % in Lodging. Lift revenue dropped 5.3 % and resort EBITDA fell 9 %, prompting the company to lower full‑year guidance to net income $128 – $162 million and Resort EBITDA $735 – $755 million.