By Kit Norton

Shares of Vail Resorts fell late Monday after the mountain resort giant said ski pass sales have dropped for the upcoming North American winter season. It cut its fiscal-year guidance.

Vail Resorts stock fell 4.7% in after-hours trading after ending regular trading up 1.5% to $137.46 on Monday. Shares have advanced 3.4% this year.

Vail Resorts, the owner of numerous mountain resorts across the world, posted adjusted earnings of $8.81 a share for the fiscal 2026 third quarter ended April 30, compared with $10.46 a share a year ago and below Wall Street's $8.95 a share expectation. Revenue fell about 7% to $1.21 billion, narrowly beating the analyst consensus call for $1.199 billion, according to FactSet.

"Weather conditions remained extremely unfavorable in the third quarter, adding to what had already been one of the most challenging winters in history across the western U.S., driving continued pressure on visitation and revenue in the quarter, particularly at our destination resorts in the Rockies," CEO Rob Katz said in the earnings release.

Vail Resorts noted that pass product sales through May 26 for the upcoming 2026/2027 North American ski season decreased about 10%. Vail resorts owns Epic Pass, the multi-resort season pass currently priced at $1,119 for adults.

The company said that the decline in pass sales reflected softer demand following one of the "worst snowfall years in history in the western U.S."

As a result, the company reduced its full-fiscal year guidance, in line with an update it provided in April. Vail Resorts expects net attributable income of $128 million to $162 million and total reported earnings before interest, taxes, depreciation, and amortization of $739 million to $761 million. Wall Street has been forecasting Ebitda of $748.7 million and net attributable income of $166 million, according to FactSet.

In March, the company also reduced its full-fiscal year guidance, because of challenging weather conditions through February in the Rocky Mountains. At the time, the company said it expected net attributable income in the range of $144 million to $190 million and total reported Ebitda between $747 million to $783 million.

Write to Kit Norton at kit.norton@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

June 08, 2026 16:52 ET (20:52 GMT)

Copyright (c) 2026 Dow Jones & Company, Inc.