Stock Market Live June 24, 2026: S&P 500 (SPY) Attempting to Regain Momentum
Q2 26 EPS
$5.87
MISS 4.62%
Est. $6.15
Q2 26 Revenue
$1.08B
MISS 2.09%
Est. $1.11B
vs S&P Since Q2 26
+1.4%
BEATING MARKET
MTN +9.7% vs S&P +8.3%
Market Reaction
Did MTN Beat Earnings? Q2 2026 Results
Vail Resorts delivered a bruising second quarter for fiscal 2026, missing on both the top and bottom lines as historically catastrophic snowfall conditions across its core Rocky Mountain markets overwhelmed even its best defensive strategies. The com… Read more Vail Resorts delivered a bruising second quarter for fiscal 2026, missing on both the top and bottom lines as historically catastrophic snowfall conditions across its core Rocky Mountain markets overwhelmed even its best defensive strategies. The company posted earnings of $5.87 per share, falling 4.62% short of the $6.15 consensus estimate, while revenue of $1.08 billion trailed expectations by 2.09% and slid 4.7% from the prior year period. CEO Rob Katz characterized the season as the lowest snowfall in more than 30 years for Colorado and Utah, driving skier visits down 13% and pressuring ski school, dining, and retail revenues across the board. The advance Epic Pass commitment model provided a partial buffer, limiting the lift revenue decline to just 2.9%, but Resort Reported EBITDA still contracted 8.3% to $421.30 million. In a show of conviction despite the turbulence, Katz personally purchased nearly $5 million in company stock following the report. Looking ahead, Vail trimmed its full-year guidance, now targeting Resort Reported EBITDA of $745 million to $775 million, while its Resource Efficiency Transformation plan is expected to deliver $106 million in annualized savings.
Key Takeaways
- • Lowest snowfall in more than 30 years for Colorado and Utah resorts drove 13% decline in skier visits
- • Advance commitment strategy via Epic Pass limited lift revenue decline to 2.9% despite 13% visit decline
- • 2025/2026 North American Pass Sales Revenue increased 3% heading into the season
- • Resource Efficiency Transformation delivered disciplined cost management partially offsetting revenue declines
- • Record high enterprise guest satisfaction scores including year-over-year increases in Colorado and Utah
MTN YoY Financials
Q2 2026 vs Q2 2025, source: SEC Filings
MTN Revenue by Segment
With YoY comparisons, source: SEC Filings
“This has been the most challenging winter across the Rockies that we have ever experienced with the lowest snowfall levels in more than 30 years for our Colorado and Utah resorts, combined with warmer temperatures, resulting in reduced terrain throughout the quarter and into February. Given that backdrop, we are pleased with the strength and stability shown by our operating model, as we reported only modest declines in lift revenue in what many would consider a worst-case weather scenario. While these conditions and the resulting visitation headwinds negatively impacted our quarterly results, we remained focused on the areas within our control. This includes our advanced commitment strategy, continued investments in our resorts and our employees, and progressing key initiatives to optimize visitation, including enhanced marketing and new products. I especially want to recognize the exceptional execution delivered by our teams over the course of the season, resulting in record high enterprise guest satisfaction scores, including increases over prior year in both Colorado and Utah despite conditions, along with continued progress on our transformation plan. I am confident that with our collective strength and focus, we will continue to elevate the guest experience and deliver sustainable long-term value for shareholders.”
— Rob Katz, Q2 2026 Earnings Press Release
MTN Earnings Trends
MTN vs Market 30 Day Price Reactions
30-day stock return vs benchmark after each earnings
MTN EPS Trend
Earnings per share: estimate vs actual
MTN Revenue Trend
Quarterly revenue: estimate vs actual
MTN Quarterly Results
5 quarters of earnings data
| Quarter | EPS Est. | EPS Act. | Surprise | Revenue | Rev. Surprise |
|---|---|---|---|---|---|
| Q3 26 MISS | $9.00 | $8.81 | -2.11% | $1.21B | -0.29% |
| Q2 26 MISS | $6.15 | $5.87 | -4.62% | $1.08B | -2.09% |
| Q1 26 MISS | $-5.17 | $-5.20 | -0.57% | $271.0M | -2.36% |
| Q4 25 MISS FY | $-4.72 | $-5.08 | -7.71% | $271.3M | -1.77% |
| FY Full Year | $7.74 | $7.53 | -2.69% | $2.96B | -0.05% |
| Q3 25 BEAT | $10.06 | $10.54 | +4.74% | $1.30B | -0.45% |