Vail Resorts cut its fiscal-year guidance after historically low snowfall in the western U.S. drove down skier visits at its properties. The company now expects net income of $144 million to $190 million, down from its initial forecast of $201 million to $276 million. CEO Rob Katz cited tough weather conditions in the Rockies as the primary culprit.

Analysts had been projecting $234.7 million in net income, making the revised guidance a significant miss. The ski-resort operator's shares fell 3.47% following the announcement. The company operates major ski destinations across North America, including Vail Mountain and Breckenridge in Colorado.

The guidance cut highlights the vulnerability of seasonal recreation businesses to weather patterns. With winter conditions failing to materialize in key markets, Vail Resorts faces pressure to manage costs while maintaining visitor experience. The company's performance will be closely watched as the ski season progresses.