---
schema_version: "secwatch.filing_event.v1"
accession: "0000812011-25-000240"
form_type: "8-K"
ticker: "MTN"
cik: "0000812011"
company_name: "VAIL RESORTS INC"
filed_at: "2025-12-10T23:59:59+00:00"
generated_at: "2026-05-16T13:43:11.910670+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.6
calibrated_materiality_score: 0.6
confidence: "high"
source: SEC EDGAR
---

# Vail Resorts Q1 net loss widens to $186.8M; pass units -2%; reaffirms FY2026 guidance

## Summary
- Q1 net loss $186.8M vs $173.3M prior year; Resort EBITDA loss $139.7M flat.
- North American pass sales through Dec 5: units -2%, dollars +3% vs prior year; ~2.3M guests committed.
- Reaffirmed FY2026 guidance: net income $201-276M, Resort EBITDA $842-898M.
- Declared $2.22 quarterly dividend payable Jan 12, 2026; repurchased $25M in Nov at ~$140/share.
- Calendar 2026 capital plan $234-239M, including core capital $215-220M.

## SEC filing metadata
- accession: 0000812011-25-000240
- form_type: 8-K
- ticker: MTN
- cik: 0000812011
- company_name: VAIL RESORTS INC
- filed_at: 2025-12-10T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.6
- calibrated_materiality_score: 0.6
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/812011/000081201125000240/0000812011-25-000240-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/812011/000081201125000240/mtn-20251210.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000812011-25-000240
- JSON: https://secwatch.observer/filing/0000812011-25-000240.json
- Plain text: https://secwatch.observer/filing/0000812011-25-000240.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.