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Compared to Estimates, Vail Resorts (MTN) Q3 Earnings: A Look at Key Metrics

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For the quarter ended April 2026, Vail Resorts (MTN - Free Report) reported revenue of $1.21 billion, down 7% over the same period last year. EPS came in at $8.81, compared to $10.54 in the year-ago quarter.

The reported revenue compares to the Zacks Consensus Estimate of $1.21 billion, representing a surprise of -0.01%. The company delivered an EPS surprise of -1.82%, with the consensus EPS estimate being $8.97.

While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.

Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.

Here is how Vail Resorts performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
  • Mountain - Total skier visits: 7.28 thousand compared to the 7.43 thousand average estimate based on three analysts.
  • Lodging - Managed condominium statistics - RevPAR: $174.87 versus $208.83 estimated by three analysts on average.
  • Lodging - Owned hotel statistics - RevPAR: $137.95 versus $168.57 estimated by three analysts on average.
  • Mountain - ETP: $100.24 versus the three-analyst average estimate of $98.88.
  • Net Revenue- Mountain net revenue: $1.13 billion versus $1.13 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -6.8% change.
  • Net Revenue- Resort net revenue: $1.21 billion versus $1.22 billion estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -7% change.
  • Net Revenue- Lodging net revenue: $75.32 million versus $82.91 million estimated by four analysts on average. Compared to the year-ago quarter, this number represents a -9.1% change.
  • Net Revenue- Mountain net revenue- Retail/rental: $104.21 million versus the three-analyst average estimate of $100.99 million. The reported number represents a year-over-year change of -8.3%.
  • Net Revenue- Mountain net revenue- Other: $55.29 million compared to the $53.66 million average estimate based on three analysts. The reported number represents a change of -3.7% year over year.
  • Net Revenue- Lodging net revenue- Managed condominium rooms: $28.35 million versus $32.85 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -13.1% change.
  • Net Revenue- Mountain net revenue- Dining: $99.14 million versus the three-analyst average estimate of $96.28 million. The reported number represents a year-over-year change of -10.7%.
  • Net Revenue- Mountain net revenue- Ski school: $141.76 million versus $137.6 million estimated by three analysts on average. Compared to the year-ago quarter, this number represents a -11.5% change.

View all Key Company Metrics for Vail Resorts here>>>

Shares of Vail Resorts have returned +7.9% over the past month versus the Zacks S&P 500 composite's +1.9% change. The stock currently has a Zacks Rank #5 (Strong Sell), indicating that it could underperform the broader market in the near term.

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