Vail Resorts, Inc. reported a decline in net revenue for the second quarter of fiscal 2026, primarily due to unfavorable weather conditions affecting visitation and spending at its Colorado and Utah resorts. The company experienced the lowest snowfall levels in over 30 years, coupled with warmer temperatures, reducing available terrain and impacting the overall skier experience. Despite these challenges, Vail Resorts demonstrated resilience through its operating model, with only modest declines in lift revenue, thanks to its advanced commitment strategy and resource transformation efforts.