The Walt Disney Company has just released its earnings for the fourth quarter of 2022, and the results have been staggering. Parks revenue is up in a very big way, and so are Disney+ subscribers. But not everything was positive.
During the devastating Hurricane Ian, The Walt Disney World Resort was forced to close for two days. Magic Kingdom, EPCOT, Hollywood Studios, Animal Kingdom, as well as the Disney Springs shopping center, shut down completely during this natural disaster, meaning Guests who were at the Resort visiting had no choice but to hunker down in their hotel rooms.
The Hurricane damaged not only Walt Disney World but surrounding Orlando theme parks such as Universal Studios.
For the most part, Disney received minimal damage during the storm. Disney’s Contemporary Resort suffered minor damage as a result of Hurricane Ian, and there have been isolated areas in which flooding has occurred, but compared to many other areas in Central Florida, it seems that Walt Disney World Resort remained relatively unscathed. However, as Guests make their way back into the Parks, we’ll begin to have a better idea of any attractions that may have suffered damage during the storm.
Of course, the hurricane hit Disney in a financial way too. The Q4 earnings report reveals that The Walt Disney Company lost millions of dollars during the closure. A portion of the report specifically discusses how Hurricane Ian affected The Wlat Disney World Resort:
Our domestic parks delivered significant year-over-year revenue, and operating income growth, despite an adverse impact of approximately 65 million dollars to segment operating income from Hurricane Ian.
Certain areas in Florida were recently under another storm watch, this time for tropical storm Nicole. A portion of The Walt Disney World Resort closed down due to this storm, but it appears things will not be as bad as Hurricane Ian.
Are you surprised by this number?