Walt Disney

Disney $DIS (-0,24%) announced its Board approved a cash dividend of $1.00 per share, a 33% increase from last year’s $0.75 per share.

Disney Income Statement | $DIS (-0,24%)

Walt Disney $DIS (-0,24%) reported 4th quarter EPS of $1.14, $0.04 more than the analyst estimate of $1.10.

Revenue for the quarter totaled $22.6B, compared to average estimates of $22.48B.

Walt Disney shares ended official trading day at the closing price of $102.72. In the last 3 months the performance was plus 15.03%, in the last 12 months plus 9.36%

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As of $DIS (-0,24%) Disney’s fiscal Q4 earnings call for 2024, held on November 14, Disney reported both positive and challenging results across its diverse business segments. Revenue was $22.47 billion, slightly lower than the $23.16 billion in the previous quarter, reflecting some expected seasonal declines. However, Disney achieved profitability in its streaming division, which includes Disney+, ESPN+, and Hulu, marking a significant milestone. This success was supported by subscriber growth and increased subscription prices, although operating costs rose due to content investments and increased marketing.

In the traditional media segment, Disney’s Linear Networks faced a 5% revenue decline, largely due to continued subscriber losses and softer advertising revenue. However, operating income from this segment increased by 6%, aided by reduced costs in sports programming.

Additionally, Disney’s theme parks and experiences segment grew moderately, with revenue increasing by 2%. This growth was driven by increased attendance and spending at U.S. parks, though income was partially offset by decreased demand at international locations, especially at Disneyland Paris.

Looking forward, Disney is focused on strategic cost-saving initiatives, particularly within its content and direct-to-consumer segments, while continuing to pursue new growth in its media and parks segments. CEO Bob Iger highlighted Disney’s commitment to increasing profitability across all segments and hinted at potential new developments, including potential changes in content strategies and international expansion

$DIS (-0,24%) | Walt Disney Q4 '24 Earnings Highlights:

🔹 EPS: $1.14 (Est. $1.10) 🟢; UP +39% YoY

🔹 Revenue: $22.6B (Est. $22.48B) 🟢; UP +6% YoY

🔹 Disney+ Core Paid Subscribers: 122.7M (Est. 119.85M) 🟢

FY25 Guidance:

🔹 Adj EPS Growth: High-single digit YoY (Est. +4%) 🟢

🔹 Cash from Operations: Approximately $15B

🔹 Capital Expenditures: Approximately $8B

🔹 Share Repurchases: Targeting $3B

🔹 Dividend Growth: Expected to track earnings growth

FY26 and FY27 Long-Term Guidance:

🔹 FY26 EPS Growth: Double digit

🔹 FY26 Cash from Operations: Double digit growth

🔹 FY27 EPS Growth: Double digit

Q4 Subscriber Metrics:

🔹 Disney+ Core Paid Subscribers: 122.7M (Est. 119.85M) 🟢; UP +4% QoQ

🔹 Hulu Total Subscribers: 52M (Est. 51.1M) 🟢; UP +2% QoQ

Q4 Segment Revenue:

🔸 Entertainment: $10.83B (Est. $10.66B) 🟢; UP +14% YoY

🔹 Linear Networks: $2.46B; DOWN -6% YoY

🔹 Direct-to-Consumer (DTC): $5.78B; UP +15% YoY

🔹 Content Sales/Licensing and Other: $2.59B; UP +39% YoY

🔸 Sports: $3.91B; FLAT YoY

🔹 ESPN Domestic: $3.49B; UP +1% YoY

🔹 Star India: $58M; DOWN -37% YoY

🔸 Experiences: $8.24B (Est. $8.2B) 🟢; UP +1% YoY

🔹 Domestic Parks & Experiences: $5.52B; UP +3% YoY

🔹 International Parks & Experiences: $1.58B; DOWN -5% YoY

🔹 Consumer Products: $1.14B; UP +2% YoY

Q4 Segment Operating Income:

🔸 Entertainment: $1.07B; UP >100% YoY, driven by:

🔸 DTC Operating Income: $253M; UP from a loss of $420M YoY, supported by higher ad revenue, increased retail pricing, and improved efficiency in Disney+

🔸 Content Sales/Licensing and Other: $316M; UP from a loss of $149M YoY, due to box office successes including Inside Out 2 and Deadpool & Wolverine

🔸 Linear Networks: $498M; DOWN -38% YoY, affected by reduced affiliate and advertising revenue and higher marketing costs

🔸 Sports: $929M; DOWN -5% YoY, impacted by:

🔹 Increased college football rights costs and reduced NFL game broadcasts

🔹 Lower affiliate revenue from fewer subscribers, partially offset by rate increases

🔹 Improved ad revenue due to higher rates and sponsorship

🔸 Experiences: $1.66B (DOWN -6% YoY), driven by:

🔹 Domestic Parks & Experiences: $847M; UP +5% YoY, supported by increased guest spending at parks and cruise lines

🔹 International Parks & Experiences: $299M; DOWN -32% YoY, affected by lower attendance and increased costs for new guest offerings

🔸 Consumer Products: $513M; UP +1% YoY

FY24 Summary:

🔹 Total Revenue: $91.4B; UP +3% YoY

🔹 Total Segment Operating Income: $15.6B; UP +21% YoY

🔹 Cash Provided by Operations: $13.97B; UP +42% YoY

🔹 Free Cash Flow: $8.56B; UP +75% YoY

Additional FY25 Segment-Specific Guidance:

🔹 Entertainment: Anticipates double-digit segment operating income growth, weighted towards the first half of the year

🔹 Sports: 13% segment operating income growth on a reported basis, though excluding India, operating income is expected to decline approximately 10%

🔹 Experiences: Projected segment operating income growth of 6%-8%, weighted to the second half of the year