Financial PerformanceCapex guidance of $8B is $1B higher than previous estimates, leading to an implied FCF guidance that is $0.5B below previous estimates.
Natural Disasters ImpactIn anticipation of Hurricane Milton’s projected landfall, there is an estimated $150 mn - $200 mn adverse impact to Parks & Experiences EBIT due to potential closures and disruptions.
Operational ChallengesExperiences is set up to have its lowest OI quarter since 2022 due to softer domestic Parks performance, weather-related closures worldwide, pre-opening costs for new cruise ships, cyclical softness in Shanghai, and the Olympics' impact on Paris.