Filing Flows › Vail Resorts (MTN) › Q3 FY26 › vs Q2 FY26
Vail Resorts (MTN) Q3 FY26 vs Q2 FY26 (quarter over quarter)
Vail Resorts's revenue rose $121M (+11%) from $1.1B in Q2 FY26 to $1.2B in Q3 FY26. Operating margin 41.0% against 31.8% (+9.2 pts).
Vail Resorts, Q3 FY26: revenue $1.2B (-7% year over year), operating margin 41.0%, net earnings $314M, operating cash flow $6.8M. The chart draws each line against Q2 FY26, the increases inside each band.
Margins
| Q3 FY26 | Q2 FY26 | Change | |
|---|---|---|---|
| Operating margin | 41.0% | 31.8% | +9.2 pts |
| Net margin | 26.1% | 19.4% | +6.7 pts |
Every line
| Line | Q3 FY26 | Q2 FY26 | Change | % |
|---|---|---|---|---|
| Revenue | $1.2B | $1.1B | $121M | +11% |
| Operating profit | $494M | $345M | $149M | +43% |
| Costs & expenses | $711M | $739M | −$27.8M | -4% |
| Pre-tax earnings | $446M | $298M | $148M | +50% |
| Other expense, net | $48.3M | $46.9M | $1.4M | +3% |
| Net earnings | $314M | $210M | $104M | +50% |
| Minority interests | $25.8M | $15.8M | $9.9M | +63% |
| Income tax | $106M | $72.3M | $33.3M | +46% |
| Operating cash sources | $399M | $291M | $108M | +37% |
| Depreciation & amortization | $77.2M | $74.3M | $2.9M | +4% |
| Share-based compensation | $7.4M | $7.0M | $483K | +7% |
| Working capital & other | $392M | $31.4M | $361M | 12× |
| Operating cash flow | $6.8M | $260M | −$253M | -97% |
| Capital expenditures | $35.1M | $74.9M | −$39.9M | -53% |
| Negative free cash flow (OCF − capex) | $28.2M | −$185M | $213M | — |
Questions
How much did Vail Resorts's revenue grow quarter over quarter in Q3 FY26?
Vail Resorts's revenue rose $121M (+11%) from $1.1B in Q2 FY26 to $1.2B in Q3 FY26. Operating margin 41.0% against 31.8% (+9.2 pts).