Vail Resorts, Inc. (MTN) Releases Q1 2026 Earnings: Revenue Up YoY but Misses Estimate; EPS Slight Beat Despite Loss

Vail Resorts, Inc. (MTN) — Q1 2026 Results

Key financial highlights for Vail Resorts (MTN) for the quarter:

Total revenue: $271.0 million (up 4.1% year‑over‑year).

Gross result: loss of $31.9 million (gross profit down 12.4% YoY).

Operating result: operating loss of $209.8 million (improved 3.9% YoY).

Net income attributable to common shareholders: net loss of $186.8 million (improved 8.1% YoY).

Diluted earnings per share: -$5.20 per share (improved 12.8% YoY).

Cash flow and capital spending

Liquidity and cash movement for the quarter:

Cash used in operating activities: $171.6 million (cash flow from operations declined 160.8% YoY).

Capital expenditures (purchases of property, plant and equipment): $55.9 million (down 21.2% YoY).

Cash and cash equivalents at quarter end: $456.4 million (up 9.1% YoY).

Balance sheet and other metrics

Cost of sales: $302.9 million (up 2.1% YoY).

Total liabilities: $5.0 billion (up 2.6% YoY).

Against expectations

How the quarter compared to analyst estimates:

Revenue was roughly $5.4 million below the estimate of $276.4 million, about a 2.0% shortfall.

Diluted EPS came in at -$5.20, modestly better than the estimate of -$5.32 (about $0.12 per share, roughly 2.2% better than expected).

Vail Resorts Inc. Insider Trading Activity

Vail Resorts Inc. insiders have traded $MTN stock on the open market 2 times in the past 6 months. Of those trades, 2 have been purchases and 0 have been sales.

Here’s a breakdown of recent trading of $MTN stock by insiders over the last 6 months:

ANGELA A KORCH (EVP & Chief Financial Officer) has made 2 purchases buying 410 shares for an estimated $63,950 and 0 sales.

To track insider transactions, check out Quiver Quantitative's insider trading dashboard.

Vail Resorts Inc. Hedge Fund Activity

We have seen 250 institutional investors add shares of Vail Resorts Inc. stock to their portfolio, and 251 decrease their positions in their most recent quarter.

Here are some of the largest recent moves:

PRINCIPAL FINANCIAL GROUP INC removed 1,569,771 shares (-94.9%) from their portfolio in Q3 2025, for an estimated $234,790,648
CAPITAL WORLD INVESTORS added 1,208,874 shares (+67.0%) to their portfolio in Q3 2025, for an estimated $180,811,284
TPG GP A, LLC removed 718,869 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $112,955,885
CORIENT PRIVATE WEALTH LLC added 413,622 shares (+2986.4%) to their portfolio in Q3 2025, for an estimated $61,865,442
SUSQUEHANNA INTERNATIONAL GROUP, LLP added 273,032 shares (+719.7%) to their portfolio in Q3 2025, for an estimated $40,837,396
BAMCO INC /NY/ added 227,143 shares (+4.1%) to their portfolio in Q3 2025, for an estimated $33,973,778
DNB ASSET MANAGEMENT AS removed 181,011 shares (-100.0%) from their portfolio in Q2 2025, for an estimated $28,442,258

To track hedge funds' stock portfolios, check out Quiver Quantitative's institutional holdings dashboard.

Vail Resorts Inc. Government Contracts

We have seen $2,116,000 of award payments to $MTN over the last year.

Here are some of the awards which we have have seen pay out the most over the last year:

CS-GRTE001 INTELLECTUAL PROP PURCHASE: $2,116,000

To track government contracts to publicy traded companies, check out Quiver Quantitative's government contracts dashboard.

Vail Resorts Inc. Analyst Ratings

Wall Street analysts have issued reports on $MTN in the last several months. We have seen 3 firms issue buy ratings on the stock, and 1 firms issue sell ratings.

Here are some recent analyst ratings:

Truist Securities issued a "Buy" rating on 09/30/2025
Stifel issued a "Buy" rating on 09/30/2025
Mizuho issued a "Outperform" rating on 09/30/2025
Barclays issued a "Underweight" rating on 09/30/2025

To track analyst ratings and price targets for Vail Resorts Inc., check out Quiver Quantitative's $MTN forecast page.

Vail Resorts Inc. Price Targets

Multiple analysts have issued price targets for $MTN recently. We have seen 7 analysts offer price targets for $MTN in the last 6 months, with a median target of $165.0.

Here are some recent targets:

Chris Woronka from Deutsche Bank set a target price of $162.0 on 12/09/2025
Megan Alexander from Morgan Stanley set a target price of $153.0 on 10/27/2025
Shaun Kelley from B of A Securities set a target price of $165.0 on 09/30/2025
Ben Chaiken from Mizuho set a target price of $195.0 on 09/30/2025
Brandt Montour from Barclays set a target price of $145.0 on 09/30/2025
Patrick Scholes from Truist Securities set a target price of $237.0 on 09/30/2025
Jeffrey Stantial from Stifel set a target price of $175.0 on 09/30/2025