Beyond its heavenly beaches, Florida is known for its amusement parks. Walt Disney World, Universal Orlando Resort, Legoland, and even SeaWorld, the theme parks attract many fans to the American state. The Associated Press published a report revealing that 74 million tourists visited these parks in 2023. However, they were forced to close with the arrival of Hurricane Milton. If this necessarily impacts visitors, the economic consequences could also be significant for these companies, and in particular for Disney.
Fuel shortages in Florida as residents evacuate as Hurricane Milton arrives (PHOTOS)
Walt Disney World, located about 30 miles southwest of Orlando, was forced to close its doors Wednesday afternoon to prepare for Milton’s arrival. A message stating that“It is likely that the theme parks will remain closed on Thursday” has also been published. According to analysts at Goldman Sachs, the hurricane could reduce the earnings before interest and taxes of Disney’s “Parks and Experiences” segment by $150 million to $200 million during the first fiscal quarter of 2025. According to NBC NewsGoldman Sachs cut its forecast for Disney’s fiscal 2025 earnings per share from $5.22 to $5.14. The investment bank created in 1869 also reassessed the decline in park attendance in the first quarter of 2025, from a decrease of 2% to 6%.
If these estimates prove correct, the loss for Disney would be greater than that generated by Hurricane Irma in 2017, which caused a loss of profit of around $100 million. The parks had to close for two full days and certain cruises organized by the Disney group were canceled.
