• Investing
  • Stock
  • Editor’s Pick
  • Economy
The Significant Deals
Investing

Hurricane Milton could reduce Disney earnings, Goldman says

by October 9, 2024
written by October 9, 2024

Projected park closures and disruptions from Hurricane Milton could cut into Walt Disney’s earnings, according to Goldman Sachs analysts.

The firm estimated Tuesday that the hurricane, projected to make landfall in central Florida as soon as Wednesday, could reduce earnings before interest and taxes for Disney’s Parks and Experiences segment by about $150 million to $200 million in its current 2025 fiscal first quarter. Goldman’s estimate would exceed the effect on Disney from Hurricane Irma in 2017, which reduced earnings by about $100 million after the parks were forced to close for two days and some cruise ships were disrupted, according to the firm.

Goldman Sachs reduced its estimate for Disney’s fiscal 2025 earnings per share from $5.22 to $5.14. It also estimated that Disney’s first-quarter domestic attendance would take a hit from the storm, projecting a decline of 6% instead of an earlier estimate of down 2%. The firm’s estimates for Disney’s recently ended fourth quarter largely remained the same, with an outlook for earnings per share of $1.16 and a Parks and Experiences segment operating income of $3.8 billion.

As of Tuesday morning, the storm was around 545 miles southwest of Tampa moving at 12 mph. With sustained winds of 145 mph, the storm dropped down to a Category 4 hurricane and could hit the Florida coast as a Category 3.

The storm is projected to make landfall around the Tampa area, which hasn’t been hit directly by a hurricane since 1921. The storm is then projected to head toward Orlando, where Disney World is located, as it decreases in intensity.

Disney has not made any announcements about potential closures. Spokespeople for Disney did not immediately respond to CNBC’s request for comment on the new earnings estimates.

This post appeared first on NBC NEWS
0 comment
0
FacebookTwitterPinterestEmail

previous post
Analysis-GSK, Pfizer RSV vaccine sales fall in US as millions fewer people line up
next post
RBNZ cuts interest rates by 50 bps to 4.75%

You may also like

Divided Fed proposes rule to ease capital requirements...

June 26, 2025

Women’s Tennis Association extends media rights deal with...

June 26, 2025

Bumble shares jump 26% as dating company plans...

June 26, 2025

Small-business AI use is lagging, but one firm...

June 25, 2025

Nvidia CEO Huang sells $15 million worth of...

June 25, 2025

How Fanatics is teaching business acumen to pro...

June 24, 2025

Walmart to pay $10 million to settle lawsuit...

June 23, 2025

Apple sued by shareholders who allege it overstated...

June 23, 2025

Tesla agrees to first deal to build China’s...

June 21, 2025

Oil prices rise more than 1% as Israel...

June 20, 2025
Fill Out & Get More Relevant News








    Stay ahead of the market and unlock exclusive trading insights & timely news. We value your privacy - your information is secure, and you can unsubscribe anytime. Gain an edge with hand-picked trading opportunities, stay informed with market-moving updates, and learn from expert tips & strategies.

    Recent Posts

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks

      June 26, 2025
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

      June 26, 2025
    • Bumble shares jump 26% as dating company plans to axe 30% of workforce

      June 26, 2025
    • Small-business AI use is lagging, but one firm is channeling Sherlock Holmes and knocking out ‘grunt work’

      June 25, 2025

    Categories

    • Economy (245)
    • Editor's Pick (3,646)
    • Investing (534)
    • Stock (6,426)

    Latest News

    • Divided Fed proposes rule to ease capital requirements for big Wall Street banks
    • Women’s Tennis Association extends media rights deal with Tennis Channel through 2032

    Popular News

    • ASML sees growth continuing through 2030 on AI demand
    • The Modern Day Forex Market

    About The Significant deals

    • Privacy Policy
    • Terms & Conditions

    Copyright © 2025 thesignificantdeals.com | All Rights Reserved

    The Significant Deals
    • Investing
    • Stock
    • Editor’s Pick
    • Economy