{"schema_version":"secwatch.filing_event.v1","accession":"0000812011-26-000048","form_type":"8-K","ticker":"MTN","cik":"0000812011","company_name":"VAIL RESORTS INC","filed_at":"2026-09-28T20:06:47+00:00","discovered_at":"2026-09-28T20:08:05.592709+00:00","generated_at":"2026-10-12T13:35:08.976070+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.72,"calibrated_materiality_score":0.72,"confidence":"high","headline":"Vail Resorts FY2026 net income falls to $147.5M; FY2027 EBITDA guidance set at $805M-$865M","bullets":["FY2026 net income attributable to Vail Resorts was $147.5M vs $280.0M a year earlier; Resort Reported EBITDA fell 11.7% to $745.7M, including $11M of one-time transformation costs.","FY2026 Resort Net Revenue dropped 4.5% ($131.9M) on historically poor Rockies/Tahoe weather; visitation -13.4%, lift revenue -3.5%, pass revenue +3.9%.","Season pass units through Sept 18, 2026 fell ~12%, days sold ~10% and sales dollars ~6% YoY, with weakness concentrated in Destination frequency products.","FY2027 outlook: net income of $158M-$233M and Resort Reported EBITDA of $805M-$865M (including ~$14M one-time costs), implying ~26.9% margin at the midpoint.","Dividend held at $2.22/share, payable Oct 27, 2026 to holders of record Oct 8; net debt 3.9x TTM Total Reported EBITDA and liquidity ~$0.8B."],"urls":{"canonical":"https://secwatch.observer/filing/0000812011-26-000048","json":"https://secwatch.observer/filing/0000812011-26-000048.json","markdown":"https://secwatch.observer/filing/0000812011-26-000048.md","text":"https://secwatch.observer/filing/0000812011-26-000048.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/812011/000081201126000048/0000812011-26-000048-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/812011/000081201126000048/mtn-20260928.htm"},"model":{"generated_by":"deepseek-v4.1-flash:cloud@v2","generated_at":"2026-10-12T13:35:08.976070+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}