• Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock
Stock

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
Biden undermines Harris claim that Ron DeSantis is politicizing hurricane response: ‘Doing a great job’
next post
‘Abandon Harris’ group endorses Jill Stein over ‘pro-genocide candidate’ Kamala Harris

related articles

YouTube to pay $24 million to settle Trump...

October 1, 2025

Charlie Javice sentenced to 7 years in prison...

October 1, 2025

Video game maker Electronic Arts to be acquired...

October 1, 2025

Nearly 200,000 BMWs recalled over potential fire risk

September 30, 2025

Trump says U.S. will impose new tariffs on...

September 29, 2025

Former Fed chairs warn that removing Lisa Cook...

September 27, 2025

Amazon to pay $2.5 billion to settle FTC...

September 27, 2025

The charm of watching movies in theaters is...

September 25, 2025

Ben & Jerry’s co-founder resigns, claiming parent company...

September 18, 2025

LimeWire acquires Fyre Festival, asking ‘What Could Possibly...

September 17, 2025
Enter Your Information Below To Receive Free Trading Ideas, Latest News, And Articles.


Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!

Latest News

  • The change voters seek goes beyond the left-right divide

    July 24, 2024
  • LG Electronics India, CATL, and other major Asian IPOs to watch out for in 2025

    January 6, 2025
  • Trump and Netanyahu celebrate ‘historic victory’ against Iran, eye future Middle East peace

    July 8, 2025
  • Special Counsel Jack Smith plans to resign, file report before Trump can fire him: report

    November 13, 2024
  • Oil and natural gas: Oil again above $75.00 on Friday

    October 7, 2024

Popular Posts

  • 1

    Secret Service admits leaning on ‘state and local partners’ after claim it ignored Trump team’s past requests

    July 21, 2024
  • 2

    Five more House Democrats call on Biden to drop out, third US senator

    July 19, 2024
  • 3

    Forex Profit Calculator: Maximize Your Trading Potential

    July 10, 2024
  • 4

    Elon and Vivek should tackle US funding for this boondoogle organization and score a multimillion dollar win

    December 4, 2024
  • 5

    Biden calls to ‘lower the temperature’ then bashes Trump in NAACP speech

    July 17, 2024

Categories

  • Economy (829)
  • Editor's Pick (6,267)
  • Investing (634)
  • Stock (935)

Latest Posts

  • Brace yourself, America. With Kamala Harris, Democrats are about to put on an incredible show

    July 23, 2024
  • AUDUSD and AUDNZD: AUDUSD exceeds last week’s high

    August 19, 2024
  • Top 5 Inauguration Day moments

    January 21, 2025

Recent Posts

  • UK government accused of cracking down on free speech: ‘Think before you post’

    September 14, 2024
  • Tariffs or not, a Chinese baby products company is ramping up its U.S. expansion

    May 20, 2025
  • Lee Zeldin confirmed to lead Trump’s Environmental Protection Agency

    January 29, 2025

Editor’s Pick

  • Trump to tap new national security advisor in 6 months; calls Waltz move ‘upgrade’

    May 5, 2025
  • AI startups are snatching up San Francisco offices, using Zoom fatigue to recruit talent

    December 8, 2024
  • Home sale commissions are getting a shake-up this weekend

    August 18, 2024
  • About us
  • Contacts
  • Privacy Policy
  • Terms & Conditions

Disclaimer: moneyrisetoday.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 © 2025 moneyrisetoday.com | All Rights Reserved

Money Rise Today – Investing and Stock News
  • Economy
  • Editor’s Pick
Money Rise Today – Investing and Stock News
  • Investing
  • Stock