Disney to heavily reduce Capital Expenditures in the parks throughout 2020 during COVID-19 crisis

May 05, 2020 in "The Walt Disney Company"

Disney will reduce planned capital expenditure in 2020 by $900 million, which equates to $400 million less than the prior year.

The CapEx reduction was mentioned during today's quarterly earnings call by Christine McCarthy, Senior Executive Vice President and Chief Financial Officer.

McCarthy went on to say that the CapEx savings would be made by pausing refurbishment and construction projects.

This news would appear to significantly impact Walt Disney World, which is in the middle of a massive rework of EPCOT and preparing for the resort's 50th. Some projects, such as Remy's Ratatouille Adventure, are close to completion. Others, including the EPCOT core and Spaceship Earth redevelopment are far from complete, and some are still to break ground.

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Article Posted: May 05, 2020 / 5:01pm ET