Filing Flows › Vail Resorts (MTN) › Q3 FY26
Vail Resorts (MTN) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Jun 8, 2026
Vail Resorts (MTN) reported revenue of $1.2B for the third quarter fiscal 2026 (Q3 FY26), -7% from a year earlier and +11% from the quarter before. Operating margin was 41.0%, net earnings $314M (26.1% of revenue).
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 follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.2B | +11% | -7% |
| Operating profit | $494M | +43% | -14% |
| Net earnings | $314M | +50% | -19% |
| Operating cash flow | $6.8M | -97% | -94% |
What changed
Revenue was $1.2B in Q3 FY26, down 7% year over year and up 11% from the previous quarter.
Operating profit was $0.49B, a 41.0% margin (down 3.6 points year over year). Total costs fell 1% while revenue fell 7%. Net earnings were $0.31B, down 19% year over year. The effective tax rate was 23.7%.
Operating cash flow was $0.01B (down 94% year over year), 2% of net income including minority interests. Non-cash charges added back $0.08B of depreciation and amortization and $0.01B of share-based compensation. Working capital and other items used $0.42B. Capital expenditures of $0.04B exceeded it, leaving free cash flow of −$0.03B.
Questions
What was Vail Resorts' revenue in the third quarter fiscal 2026?
Vail Resorts (MTN) reported revenue of $1.2B for the third quarter fiscal 2026 (Q3 FY26), -7% from a year earlier and +11% from the quarter before.
Was Vail Resorts profitable in the third quarter fiscal 2026?
Operating profit was $494M (41.0% of revenue) and net earnings $314M.
Source: Vail Resorts 10-Q on SEC EDGAR.