NEWS: Disney Reports $65 Million in Hurricane Ian Losses

The Walt Disney Company just held its latest earnings call, and we already learned quite a bit about how the company is doing overall.

50th Anniversary Cinderella Castle

CEO Bob Chapek shared that revenue has grown over the past year, with parks revenue raking in $7.4 billion during Q4. And, this was all done despite some pretty significant losses from Hurricane Ian — which devastated much of Florida and impacted Walt Disney World operations. Disney shared just how much of an impact Hurricane Ian had, and we’re sharing the details below.

Several theme parks closed their doors due to Hurricane Ian, including Disney World. Park passes and hotel reservations were impacted as well, while Cast Members and guests hunkered down for a couple of days until the parks reopened and operations resumed.

Flooded construction after Hurricane Ian

During the Walt Disney Company’s fourth quarter earnings call, we learned that Hurricane Ian cost the Company $65 million while the Disney World parks were closed for two days. CFO Christine McCarthy shared that the hurricane was “a $65 million drag on the quarter” — though overall revenue was still up for Parks and Experiences.

EPCOT

Disney reported revenue in its Disney Parks, Experiences, and Products division at $7.4 billion for the quarter, which is an increase of 26% over the same period in 2021. CEO Bob Chapek shared that demand at Disney parks exceeds capacity “on many days” due to new attractions and experiences like Guardians of the Galaxy: Cosmic Rewind in EPCOT.

Cosmic Rewind

We’ll continue to share what we’ve learned from the most recent Walt Disney Company earnings call with you — so stay tuned for the latest updates!

Bob Chapek Says Disney Parks Demand Still Outpaces Capacity and More During Q4 Earnings Call

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What do you think of the news from the most recent earnings call? Let us know in the comments!

The post NEWS: Disney Reports Million in Hurricane Ian Losses first appeared on the disney food blog.

source https://www.disneyfoodblog.com/2022/11/08/disney-reports-65-million-in-hurricane-ian-losses/

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