Vail Resorts' fiscal 2026 net income fell to $147.5 million from $280 million a year earlier as historically poor snowfall in the Rocky Mountains and weaker conditions in Tahoe reduced skier visits. Resort net revenue declined 4.5% to $2.83 billion, while Resort Reported EBITDA fell 11.7% to $745.7 million. The company reported that early sales of pass products for the 2026/2027 ski season remain weaker than a year earlier, though it said some less-committed skiers may be delaying purchases. Vail forecast fiscal 2027 net income of $158 million to $233 million and Resort Reported EBITDA of $805 million to $865 million, assuming normal weather and the current economic environment. The company also faces a board challenge from Oasis Management, which holds about 7.4% of Vail's shares.