A Goldman Sachs report released Tuesday predicted the storm could reduce Disney’s earnings by between $150 million and $200 million this quarter.
Topline
Walt Disney World announced a number of theme park closures beginning Wednesday because of Hurricane Milton—which is projected to tear through Central Florida—after a Goldman Sachs report released Tuesday projecting Disney is likely to take a nine-figure hit financially from the oncoming storm.Key Facts
Milton, which is now a Category 5 storm, is expected to pass through the Orlando area, where Walt Disney World is located, after it makes landfall near Tampa, Florida, on Wednesday.
Disney announced a number of staggered park closures, including the closure of Disney’s Hollywood Studios and Disney’s Animal Kingdom theme park at 1 p.m. EDT Wednesday and the closure of Magic Kingdom park, EPCOT and Disney Springs at 2 p.m. EDT, and said it was likely the parks would stay closed through Thursday.
Disney also said its transportation will stop operating after its theme parks close Wednesday—though Walt Disney World Resort guests will have limited taxi service—and canceled its Mickey’s Not-So-Scary Halloween Party at the Magic Kingdom park, saying tickets will be refunded.
