Disney released its first-quarter earnings Wednesday, showing that its strong theme parks business took a hit from back-to-back hurricanes in Florida.
The Burbank-based company’s Experiences division, which includes its parks, cruise line and consumer products, reported a revenue of $9.4 billion, up 3% compared to 2024.
Operating income remained flat at $3.1 billion.
While Disney’s International parks posted gains, the company’s U.S. parks reported $2 billion in operating income, a decrease of 5% when compared to last year.
The company attributed the dip at the domestic parks to the impacts from Hurricanes Helene and Milton, which moved through Florida last fall. Disney said the storms had a $120 million negative impact on its business.
Domestic revenue growth was also impacted by the pre-launch cost of the new Disney Treasure cruise ship, which debuted in December.
The U.S. parks also experienced a slowdown, as Disney reported attendance declines in the quarter.
The results comes as the company continues its multi-year, $60 billion investment in its experiences division. Disney has a slate of new attractions debuting in the next few years, including new lands based on Disney villains, “Cars” and “Monsters, Inc.” at Disney World and two additional rides at Avengers Campus at Disneyland Park.
Disney is also expanding its fleet of cruise ships, with two new ships—the Disney Destiny and the Disney Adventure—set to debut this year.
