Shanghai Disneyland may have been able to reopen, but Disney could be on track to lose around $1 billion in earnings before interest and taxes each month from the rest of its parks being closed due to the coronavirus pandemic.
Disney could be on track to lose around $1 billion in earnings before interest and taxes each month from its parks being closed due to the coronavirus pandemic.
Visitors wearing face masks take selfies at Shanghai Disney Resort after the coronavirus pandemic on May 11, 2020 in Shanghai, China.Shanghai Disneyland may have been able to reopen, but "We intend to continue doing work to refine this estimate, but we don't have much to go on," Todd Juenger, analyst at Bernstein, wrote in a research note Wednesday. "Disney did not provide nearly as much information as we had hoped with respect to the burn rate of Parks while they are closed, or the economics of opening at reduced capacity."
Meanwhile, Disney is saving on labor costs elsewhere, as its parks employees were furloughed in mid-April and executives took salary reductions.
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