ORLANDO, Fla. – The Walt Disney Company is warning investors that the coronavirus pandemic is affecting many of its business segments.
- Disney warns investors that coronavirus has affected business
- The company said in an SEC filing it's hard to predict future performance
- Disney closed its theme parks in response to coronavirus
Disney closed its domestic parks—Disney World and Disneyland—earlier this week. The company also suspended its cruises and delayed the theatrical release of its big-budget films.
"In addition there has been a disruption in creation and availability of content we rely on for our various distribution paths, including most significantly the cancellation of certain sports events and the shutting down of production of most film and television content," the company said in a Securities and Exchange Commission filing released Thursday.
Disney said the virus has made it more difficult for the company to estimate its future performance.
"We expect the ultimate significance of the impact of these disruptions, including the extent of their adverse impact on our financial and operational results, will be dictated by the length of time that such disruptions continue which will, in turn, depend on the currently unknowable duration of the COVID-19 pandemic and the impact of governmental regulations that might be imposed in response to the pandemic," the filing said.
Disney shares, for the first time since at least 2017, fell below $100 per share.
It's unclear how the closure of Disney World will affect upcoming projects, many of which were still under construction prior to the closure.
