Domestic theme park attendance in the fourth fiscal quarter was better than expected for Disney.
"We certainly feel like the consumer is strengthening," Disney CFO Hugh Johnston said Thursday morning during the company's financial results call.
Bucking a trend at nearby Universal Orlando Resort, where executives last month reported lower attendance at domestic theme parks, Disney's attendance was on par with the same quarter last year.
During the third fiscal quarter, Disney reported flat attendance.
In prepared remarks, the company said attendance in the fourth fiscal quarter was "comparable" to the prior year at domestic theme parks. Operating income grew 5% in the quarter thanks to higher guest spending.
Johnston said the company expects those trends to continue with "a gradual strengthening in the consumer."
Disney did report lower attendance at two of its international parks, Shanghai Disney Resort and Disneyland Paris.
Johnston said Disneyland Paris's results was expected: Whenever the Olympics have been held in a city where Disney has a theme park, attendance tends to dip.
The softness in Shanghai is expected to be temporary, he added.
Disney Treasure and higher expenses
Disney Cruise Line in the quarter saw higher expenses and costs related to the upcoming launch of the Disney Treasure.
Overall, Disney's Experiences segment, which includes theme parks and Disney Cruise Line, saw a revenue increase of $100 million, or 1%, in the fourth fiscal quarter. Operating income declined 6% to $1.7 billion, mainly attributed to cruise-related expenses and international softness in theme parks.
For the 2025 fiscal year, Disney is projecting operating income growth of 6-8% for the Experiences division, factoring in a $130 million impact in the first fiscal quarter due to hurricanes Helene and Milton and $90 million in Disney Cruise Line pre-launch costs.
An Epic boost?
Johnston also addressed the opening of Epic Universe in Orlando, which Universal said will be May 22. If history is any indicator, it will likely provide a bump not just for Universal but for Disney, as well.
"We did model that into our expectations for the Experiences outlook," he said.
Early bookings for next summer at the Walt Disney World Resort are positive, indicating Disney will likely benefit from Epic's opening, according to the CFO.
"We also looked at the history of other attractions opening up and other parks opening up in Florida, and it's generally been beneficial to us," Johnston said.