Vail Resorts Experiences a Drought Year: Record-Low Snowpack Leads to Lowered 2026 Earnings Outlook

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Good luck attempting to wash your hands, face, and hair with snow; there isn’t nearly enough of it to do all that. The company is lowering its expected 2026 earnings after some of the lowest snowpack in recorded history has occurred at its North American locations, dropping by nearly 20% since the start of the season through January 4.

The impact of skiers staying home is evident: Vail’s ski school revenue has dropped 14.9% since the start of the season compared to last year, and dining revenue fell nearly 16%, the company said in an investor statement released yesterday.

Just how dry is it? A rare combination of a polar vortex and La Niña dumped record amounts of snow on the East Coast this year… while leaving everywhere else lacking. The company said snowfall during November and December at its Rocky Mountain locations was down almost 60% compared to the area’s historical 30-year average. Western US resorts were faring only slightly better, with 50% less snowfall than average.

  • On Tuesday, Vail Mountain reported its worst snowpack since it began keeping records in 1978, with just 4.4 inches.
  • Only about 11% of Vail Resort’s terrain in the Rocky Mountains was open last month.

Outcome: The setback comes amid the return of [name], who revolutionized the ski business by consolidating resort ownership and introducing the Epic Pass, after years of the company struggling financially without him in the C-suite. —MM

This report was [written] by [author].