Bernstein analyst Todd Juenger estimated in a recent report what attendance levels the Walt Disney Co.'s U.S. theme parks need to make their reopening worth it for the company.
Bernstein analyst Todd Juenger estimated in a report published on Thursday what attendance levels the Walt Disney Co.'s U.S. theme parks need to make their reopening worth it for the company. After Disney's recent earnings report, Juenger estimated that the Hollywood conglomerate's theme parks would lose $1 billion in earnings before interest and tax per month while shut down due to the novel coronavirus pandemic.
His conclusion: "Disney can generate enough profit contribution to cover the incremental fixed and variable costs of operating its parks when operating at about 25 percent of normal run-rate attendance," meaning pre-pandemic attendance. That visitor level would make the reopening of the domestic parks "worth" it for the company, he explained.
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