Disney Parks, Experiences, and Products Forecast to Report a $2 Billion Quarterly Loss During Q3 Earnings Report Tomorrow
Between furloughs, unprecedented closures, and project cancellations, it’s safe to say that COVID-19 has hit the tourism industry harder than any other. Ahead of The Walt Disney Company’s third-quarter earnings report tomorrow, analysts are predicting a bleak call for the company and its investors.
During the company’s last earnings call, Bob Chapek, Chief Executive Officer still seemed optimistic, stating, “While the COVID-19 pandemic has had an appreciable financial impact on a number of our businesses, we are confident in our ability to withstand this disruption and emerge from it in a strong position.” In the earnings call, Disney announced they would be forgoing the July payment of the semi-annual dividend, saving the company around $1.6 billion.
The Walt Disney Company will discuss fiscal third quarter 2020 financial results via a live audio webcast beginning at 4:30 p.m. EDT / 1:30 p.m. PDT on Tuesday, August 4, 2020. We’ll be reporting live with any updates revealed during the webcast, so stay tuned.