It’s been a tough and long road ahead for an economic recovery for U.S. Disney Parks at Walt Disney World and Disneyland, to rebound from the pandemic. The resorts are expect to do so for 2022 and with a spike in 2023, according towards a new analyst report. Disney Parks for Florida and California look strong that was done by the research firm, MoffettNathanson.
“While there are clear headwinds in some of Disney’s legacy businesses, there are also strong tailwinds for the parks in both the near and long term”.MoffettNathanson
Walt Disney World had a four month closure in 2020, while Disneyland and Disney California Adventure were longer till April 2021. The international parks have faced a wave series of closures, despite Hong Kong Disneyland has been closed temporarily again due towards the Omicron surge. The closure has been extended till February 3rd, instead of January 20th for it’s original re-opening date.
Here’s where the data gets interesting from The Walt Disney’s Company’s earrings. Disney’s U.S. parks have bounced back from a loss of $1.6 billion in the third quarter of 2020. To break even in the third quarter of 2021 to a projected profit of $1.3 billion in the third quarter of 2022, according to the report. The U.S. parks are expected to hit 2019 levels of profitability and generate $4 billion before interest and taxes in 2022.
The numbers are projected to grow between $5.2 billion in 2023 and $6.3 billion in 2024. That’s well above the $4 billion marker in 2018 and $4.4 billion before the pandemic hit. In terms for the international parks are going to take a bit longer to recover. With a $170 million loss to be projected in 2022, before to rebound in 2024 for a profit of $475 million. To be on par with the pre-pandemic levels, according towards the report.
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Source: Orange County Register