• Investing
  • Stock
Round Table Thoughts
  • Economy
  • Editor’s Pick
Home Editor's Pick Hurricane Milton could reduce Disney earnings, Goldman says
Editor's Pick

Hurricane Milton could reduce Disney earnings, Goldman says

by October 9, 2024
by October 9, 2024 0 comment
Share
0
FacebookTwitterPinterestWhatsapp

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
You Might Also Like
  • Dropbox slashes 20% of global workforce, eliminating more than 500 roles
  • The Fed may soon cut interest rates. That could make your next trip abroad more expensive.
  • U.S. consumer confidence hits 2-year high — but recession fears linger
  • Weekly mortgage refinance demand soars 16% as rates sink to lowest level in over a year
Share
0
FacebookTwitterPinterestWhatsapp

previous post
SCTR Report: Carvana Stock Skyrockets, Hits a New 52-Week High — What This Means for Investors
next post
Walmart-owned Sam’s Club tests a future without checkout lines

You may also like

Baby boomers and their cash are driving the housing market...

July 9, 2023

WeWork, once valued at $40 billion, warns of possible bankruptcy...

August 11, 2023

Home prices soar even higher in February, despite higher mortgage...

May 2, 2024

Spirit Airlines, fresh from bankruptcy, is ready to take on...

March 13, 2025

Capital One outage drags into Friday afternoon, leaving some customers...

January 18, 2025

Tesla asks shareholders to vote again on Musk’s $56 billion...

April 18, 2024

Warren Buffett gives away another $5.3 billion, says his children...

June 28, 2024

Caroline Ellison seeks to duck prison sentence for role in...

September 12, 2024

Target launches paid membership program as it chases new revenue...

March 7, 2024

Walmart is laying off and relocating hundreds of corporate workers

May 16, 2024

    Stay updated with the latest news, exclusive offers, and special promotions. Sign up now and be the first to know! As a member, you'll receive curated content, insider tips, and invitations to exclusive events. Don't miss out on being part of something special.


    By opting in you agree to receive emails from us and our affiliates. Your information is secure and your privacy is protected.

    Recent Posts

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past This Level Crucial For Resumption Of Upmove

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right Now

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025
    • Run Your Stock Portfolio Like a Pro Sports Team

      May 30, 2025
    • U.S. foreign tax bill sends jitters across Wall Street

      May 30, 2025

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be...

      June 27, 2024 2,765 views
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as...

      August 9, 2024 2,472 views
    • 3

      Biden appointee played key role in recruiting Chinese...

      June 25, 2024 2,451 views
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful...

      July 10, 2024 2,432 views
    • 5

      Harris VP pick spent years promoting research facility...

      August 29, 2024 2,308 views

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Popular Posts

    • 1

      Trump-era China sanctions ended by Biden may be revived under new House GOP bill

      June 27, 2024
    • 2

      Walz’s honeymoon with China gets fresh scrutiny as Harris camp blasts ‘lying’ critics

      August 9, 2024
    • 3

      Biden appointee played key role in recruiting Chinese businesses to Delaware: ‘Longtime friends’

      June 25, 2024
    • 4

      Shein’s global ambitions leaves some cybersecurity experts fearful of Chinese spy threats

      July 10, 2024
    • 5

      Harris VP pick spent years promoting research facility that collaborated with ‘Chinese military company’

      August 29, 2024

    Latest News

    • Week Ahead: NIFTY Stays In A Defined Range; Moving Past...

      May 31, 2025
    • Breakouts, Momentum & Moving Averages: 10 Must-See Stock Charts Right...

      May 31, 2025
    • Leadership Rotation Could Confirm Corrective Phase

      May 30, 2025

    Categories

    • Economy (7,009)
    • Editor's Pick (2,106)
    • Investing (538)
    • Stock (2,582)

    Disclaimer: RoundTableThoughts.com, its managers, its employees, and assigns (collectively “The Company”) do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

    Copyright © 2024 RoundTableThoughts.com. All Rights Reserved.

    Round Table Thoughts
    • Investing
    • Stock
    Round Table Thoughts
    • Economy
    • Editor’s Pick

    Read alsox

    House hunting is already tough. Guess...

    July 1, 2023

    Mortgage demand falls to the lowest...

    October 20, 2023

    Nearly all of the homes listed...

    December 22, 2023
    Sign In

    Keep me signed in until I sign out

    Forgot your password?

    Password Recovery

    A new password will be emailed to you.

    Have received a new password? Login here