News Disney’s Fiscal Full Year and Q4 2025 Earnings Results Webcast

[JD80]

It’s a story old as time, at some point they will go too far and profits will freefall all at once. I just don’t know when that will happen.

They are actively trying to figure out where that line is. They've mostly found it with Value and Moderate Resorts, they haven't found it yet with Deluxe offerings but they are close. They are also adding premium addons to top out those Deluxe guests.

The only thing they are still playing with are ticket prices.

 

[monothingie]

Yikes

Down 8% at the open.

 

[monothingie]

Most Domestic Hotel Cash bookings in a given four quarter period for the company.

Did they do massive discounts and promotions this year? I forget…

 

[lentesta]

I'm trying to figure out how we got to -1% domestic attendance for the year.

The 10-Qs (the quarterly reports) had this:

• -2% 1Q (Oct-Dec 2024), including hurricane impact
• +2% 2Q (Jan-Mar 2025)
• flat 3Q (Apr-Jun 2025)
• ???? 4Q (Jul-Sep 2025)

= -1% FY2025

Disney's 10-Qs also say:

Experiences revenues fluctuate with changes in theme park attendance and resort occupancy resulting from the seasonal nature of vacation travel and leisure activities, which generally results in higher revenues during the Company’s first and fourth fiscal quarters,

So how much did domestic attendance change in 4Q to get to -1% for the whole year?

 

[Splash4eva]

The Swiss guard must be sleeping in this morning…usually there’s a party going on by now for this kinda fluff

Cake and balloons

Getting ugly for DIS Emergency price hike coming asap … okay im done updating lol

 

[monothingie]

I'm trying to figure out how we got to -1% domestic attendance for the year.

The 10-Qs (the quarterly reports) had this:

• -2% 1Q (Oct-Dec 2024), including hurricane impact
• +2% 2Q (Jan-Mar 2025)
• flat 3Q (Apr-Jun 2025)
• ???? 4Q (Jul-Sep 2025)

= -1% FY2025

Disney's 10-Qs also say:

Experiences revenues fluctuate with changes in theme park attendance and resort occupancy resulting from the seasonal nature of vacation travel and leisure activities, which generally results in higher revenues during the Company’s first and fourth fiscal quarters,

So how much did domestic attendance change in 4Q to get to -1% for the whole year?

And which domestic resort was responsible for that decline.

Hint: It’s in a state that’s name end is “lorida”.

 

[monothingie]

The Swiss guard must be sleeping in this morning…usually there’s a party going on by now for this kinda fluff

Cake and balloons

Usually they dangle in some shiny announcement nuggets and things. Nothing like that today.

 

[el_super]

It’s a story old as time, at some point they will go too far and profits will freefall all at once. I just don’t know when that will happen.

Why? What makes you think there will be a freefall? Specifically with the parks experience?

Attendance didn't drop significantly, even with the river closing. Or Dinoland. They have a full slate of additions, new attractions coming up. They have no where to go but up now.

What do you think is going to trigger some sudden freefall? Certainly nothing Disney can control.

Stock down over 5%, market hates it.

They're probably angry that Bob doesn't want to buy Warner Brothers.

Disney will be fine.

 

[CoastalElite64]

I believe they mentioned it, but Avatar is being released late Q1 so they expect the impact to split over Q1 and Q2, hence the lower guidance for Q1.

Personally the upcoming slate doesn't do much for me, but it does makes sense.

Thank you for clarifying the facts.

 

[Serpico Jones]

Stock is now down 9%. A complete disaster.

 

[Sirwalterraleigh]

Usually they dangle in some shiny announcement nuggets and things. Nothing like that today.

Not a lot shine on the Patty in this one

I see the Stupor Hour has begun? We know it’s you, Josh

 

[CoastalElite64]

They're probably angry that Bob doesn't want to buy Warner Brothers.

Disney will be fine.

I bet its the AI. Investors are bullish on it and wanted to hear Disney doing more with it.

AI is a bubble though.

 

[HauntedPirate]

I'm trying to figure out how we got to -1% domestic attendance for the year.

The 10-Qs (the quarterly reports) had this:

• -2% 1Q (Oct-Dec 2024), including hurricane impact
• +2% 2Q (Jan-Mar 2025)
• flat 3Q (Apr-Jun 2025)
• ???? 4Q (Jul-Sep 2025)

= -1% FY2025

Disney's 10-Qs also say:

Experiences revenues fluctuate with changes in theme park attendance and resort occupancy resulting from the seasonal nature of vacation travel and leisure activities, which generally results in higher revenues during the Company’s first and fourth fiscal quarters,

So how much did domestic attendance change in 4Q to get to -1% for the whole year?

Not to mention - they reported hotel occupancy rose, yet park attendance fell?

I need Dramamine for the spin words in this report.

 

[monothingie]

 

[Sirwalterraleigh]

Stock is now down 9%. A complete disaster.

I’m gonna go off script and scoff at that

The stock market has become complete crap…which is why it’s so dangerous

It’s a gambling house…and no one ever leaves the table with the bones behind. It’s not about production and sales…which is the only way it ever made sense.

It’s “confidence” and “guidance” now…

Which is why the reaction ultimately is for show and lacks substance

 

[Sirwalterraleigh]

Not to mention - they reported hotel occupancy rose, yet park attendance fell?

I need Dramamine for the spin words in this report.

You could splain it away by saying off property attendance dropped…which makes a lot of sense.

1/3 to 1/2 (and rising) of the on property rooms are timeshare now…those are occupied by contract…so your base occupancy is at least 40%…does not generate room revenue though (elephant in the corner)…

So it can make sense…but they don’t go into any disclosure or detail so ambiguity and doubt kicks in

 

[JD80]

Stock is now down 9%. A complete disaster.

Probably time to buy.

 

[MisterPenguin]

Yup they’ll just keep happily paying the higher prices for everything…forever.

Completely sustainable.

What’s the upper limit for you penguin? And no they don’t accept anchovies as currency.

I've been saying after each Quarterly Report for the past 8 years that they're raising prices to control crowds, but they keep not-finding the 'tipping point.' (Except for Value Resorts mentioned above.)

So, they're going to keep raising until they do.

As various segments stall due to a price increase, they'll stop raising the cost.

It's not about how many anchovies I'm willing to offer to the Mouse God, it's how many simoleans the general public (or just the upper middle and higher) are willing to hand over.

This is where a smaller, more nimble, and cost-conscious competitor can sneak in and snipe all those who've been priced out. And that would have been UO if they weren't playing the same price-increasing-until-the-tipping-point game that Disney is doing.

 

[monothingie]

Why? What makes you think there will be a freefall? Specifically with the parks experience?

Attendance didn't drop significantly, even with the river closing. Or Dinoland. They have a full slate of additions, new attractions coming up. They have no where to go but up now.

What do you think is going to trigger some sudden freefall? Certainly nothing Disney can control.




They're probably angry that Bob doesn't want to buy Warner Brothers.

Disney will be fine.

So now long term is important?

Every move they’ve made is for short term gains at the expense of long term growth.

Breaking News: guests aren’t visiting Disney because they expect something better to be out at the end of the decade.

They aren’t visiting because it’s too damn expensive. Future price hikes aren’t going to improve that.

 

[Sirwalterraleigh]

Probably time to buy.

Only if you want to relive your time in the Obama years…