Vail Resorts reports 12% decline in Epic pass sales

Vail Resorts is facing a decline in pass sales as it prepares for the 2026-27 ski season. The company reported that Epic pass product unit sales through September 18 were down approximately 12% compared to the same period last year. Estimated ski days sold also decreased by 10%, while sales revenue saw a 6% decline.

The downturn follows a period of difficult weather conditions, including Utah’s worst snow year on record. CEO Rob Katz noted that conditions in the Rockies have been among the most challenging the company has experienced, contributing to a 13.4% drop in total visitation during fiscal 2026.

Despite these challenges, Vail Resorts’ recent quarterly earnings slightly exceeded expectations, reporting an EPS of ($5.34) against a consensus estimate of ($5.35), with revenue reaching $278.07 million. In response to the company's performance, JPMorgan Chase & Co. raised its price target for Vail Resorts stock from $126.00 to $150.00, maintaining a “neutral” rating.