Likely not.
It is more than "making a profit", what really matters is ROI or "Return on Investment".
To compare, the last major non-Disney animated theatrical movie was "Into the Spider-Verse". Which made just under $400 million on a $90 million dollar budget (around $105 million with marketing). And in a few more days, Across the Spider-Verse hits theaters. And Across is already predicting an opening weekend of around $85 million and possibly $800 million in it's theatrical run.
And the cost for that movie including marketing? $115 million. That is around 1/5 the cost of Mermaid.
That is going to be a huge ROI, especially when compared to The Little Mermaid. And I bet when the next weekend results are in, Mermaid sinks to second if not third place and Miles Morales will be the new box office king. And the next week Mermaid will unquestionably be in third place if not lower, as then it will be against both Spider-Verse and the newest Transformers movie. Then after that, The Flash. I doubt it will be above 8th place by the time of the end of its run.
Which will be about the time the last Indiana Jones film hits the screen. And early predictions are that will bet yet another bomb.
If I was an investor, I would be pulling money from Disney and putting it in Sony. They have had a series of successful movies, and Disney has been in the doldrums for most of the last decade. It is not enough to just "make a profit", and Mermaid still has a hell of a long ways to go before it can do that. It has to be a return on the money invested. And when compared to movies with less than half the budget and a fraction of the marketing will likely blow away Mermaid, that is not looking good.
Disney is making the same mistakes much of Hollywood did in the past. Budgeting every movie they make as a high dollar blockbuster. And that strategy (on top of endless remakes) is simply not working.