In an earnings call this afternoon, Disney CFO Christine McCarthy provided updated guidance on capital expenditure investments in the theme parks. Previously, Disney said that they would spend $6.7 billion on capital expenditure projects in the Disney Parks segment of the company. In updated guidance today, McCarthy said that spend would be cut by roughly $700 million:
We also continue to invest in our parks and experiences globally, and in other capital projects across the enterprise. And expect that fiscal 2023 capital expenditures will total approximately $6 billion. This is lower than our prior guide of $6.7 billion, primarily due to decreases in CapEx at our domestic parks, reflecting, in part, from timing shifts
As always, keep checking back with us here at BlogMickey.com as we continue to bring you the latest news, photos, and info from around the Disney Parks!
“…primarily due to decreases in CapEx at our domestic parks, reflecting, in part, from timing shifts”
Do execs think if they communicate in gobbledegook like this it makes them seem “executive”?