MTN: Resilient FY26 results amid weather challenges; FY27 targets EBITDA growth and margin pressure
Vail Resorts (MTN) reported flat Q4 2026 revenue and a 3.5% annual revenue decline, offset by 4% pass revenue growth. For 2027, the company expects EBITDA of $805–$865 million but anticipates margin pressure due to inflation. MTN aims to boost visitation through lift tickets and ancillary revenue growth.
How this was made

The 30-second read
Why it matters
The new guidance provides fresh data for traders to reassess valuation.
Market read
First disclosure of FY27 EBITDA outlook; relevant for leisure sector investors.
What to watch
Potential weather improvements could boost lift ticket sales beyond guidance.
Background
The article summarizes Vail Resorts' FY26 performance and FY27 guidance.
Ticker impact
Vail Resorts reported FY26 results and FY27 EBITDA guidance of $805‑$865 million.
likely modest downside as investors price in margin pressure.
Guidance is the first report of FY27 outlook; market will adjust expectations.
Market effects
Ski resort sector may see similar margin concerns from inflation.
U.S. leisure stocks could face slight pressure.
Limited to North American tourism and leisure investors.
Counterpoint
If inflation eases, the margin pressure may be overstated, supporting upside.
Key entities
- CompanyVail Resorts, Inc.
Operator of ski resorts, ticker MTN.

