Vail Resorts Sees Decline in Skier Visits Amid Warm Winter

Capital International Inc. CA boosts stake in Vail Resorts amid mixed analyst sentiment

Published on Mar. 11, 2026

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Capital International Inc. CA has increased its stake in Vail Resorts, Inc. (NYSE:MTN) by 47.8% in the third quarter, according to a recent 13F filing. The move comes as Vail Resorts reported weaker-than-expected Q2 results, with EPS and revenue missing estimates, and the company cutting its full-year net income guidance due to a severe decline in skier visits at its key resorts amid a warm winter in the Rockies.

Why it matters

Vail Resorts is one of the largest ski resort operators in North America, so its performance is closely watched as an indicator of the health of the broader ski industry. The company's struggles with warm weather and declining skier visits highlight the risks the industry faces from climate change, while the mixed analyst sentiment reflects uncertainty around the company's near-term outlook.

The details

In the Q2 results, Vail Resorts reported EPS of $5.87, missing the $6.06 estimate, and revenue of $1.08 billion, below the $1.11 billion estimate. The company also cut its full-year net income guidance to $144 million to $190 million, down from the prior range of $201 million to $276 million. Management cited severely below-average snowfall in the Rockies, which drove a 12% decline in skier visits at key resorts, as the primary driver of the weaker results.

  • Vail Resorts reported Q2 results on March 9, 2026.
  • The company's quarterly dividend of $2.22 per share will be paid on April 9, 2026, with an ex-dividend date of March 26, 2026.

The players

Vail Resorts, Inc.

A leading mountain resort company that owns and operates an integrated network of ski areas, hotels, restaurants and retail outlets.

Capital International Inc. CA

An investment management firm that has increased its stake in Vail Resorts by 47.8% in the third quarter.

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