Brer Panther
Well-Known Member
What was the first time?
Yeah, there doesn't seem to be anyone in the company at the moment who hates Iger. So we're probably stuck with the guy for a while...
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News Chapek FIRED, Iger New CEO
- Thread starter Chef Mickey
- Start date
Other execs non Disney and/ or elected officials who have fallen from grace were taken down when skeletons from their closet armed with lawyers took them down. Don't see that happening with Iger.
Smiley/OCD
Well-Known Member
Nelson Peltz started a takeover attempt again today and wants 2 directors of his choosing appointed to the board. Iger must be just a tad nervous because TWDC just reinstated a .30/share dividend this afternoon…we’ll see…
HMF
Well-Known Member
When Roy E. Disney brought in Eisner and Wells in 1984.
pdude81
Well-Known Member
Well the funny part is that the dividend was announced as part of a deal of sorts to back Peltz off earlier in the year. That he waited to announce it until after Peltz ratcheted things up is smart. 30 cents is trash, but DIS resuming a dividend after 3 years is a bigger story than "cranky old guy comes for Iger again".
Bender123
Well-Known Member
Thirty cents is trash compared to the -55% the stock is worth compared to a year ago. Shareholders, hopefully, arent that shortsighted as to back off a demand for change in leadership because they got back 30 cents after losing almost $110 per share.
JoeCamel
Well-Known Member
They just don't make enough to return a couple of billion a year to the shareholders, maybe if they get a few blockbusters but you can't count on that revenue stream. If D+ doesn't start producing soon they will be strapped for cash, the only reason they did the $.30 was to appease Peltz and it isn't working
JD80
Well-Known Member
Who is going to be strapped for cash?
JoeCamel
Well-Known Member
TWDC is burning what they have, has bills to pay and is not producing as it has in the past. There is a reason the stock is where it is, investors don't see the numbers adding up to a $190 stock again.
JD80
Well-Known Member
They are making billions in profit a year.
AdventureHasAName
Well-Known Member
The company spent 30 years being recession-proof because of brand loyalty. They've now thrown that all away. Investors are realizing it now and the stock is not recovering.
Stripes
Premium Member
I think investors are smart enough to compare Disney’s stock performance to their competitors and look at the company’s trajectory and the scale of the changes made in the past year even if those changes will take some time to show results.
Disney has stated they expect free cash flow to increase significantly in FY 2024, approaching 2019 levels.
Stripes
Premium Member
Recession-proof? Between 2000 and 2002, the stock tanked 60%. In ’08–‘09, it tanked 50%.
JoeCamel
Well-Known Member
But it is decreasing at an alarming rate. Not a fire sale and they can still borrow but the people that analyze corporate health for a living feel this is not where to put your money based on their research
Yes, they are making billions in revenue but they only have $4.8 billion in free cash flow. Yes, that is a lot but they have to pay $10+billion for Hulu and invest billions in the parks. Remember, borrowing cash for the parks and experiences is going to cost a lot more with much higher interest rates.
All their 2023 movies lost money (and except Guardians made a very small profit) and 2024 has practically no movie releases. D+ is still losing money (~$400MM last quarter). Every week they have some type of negative press and it is hurting all parts of the company. Moral is low too!
Basically, all of this has a cascading effect throughout the organization. Bad movies = less merchandise sold, no new IP in the parks and having them to revert to sequals. Creatively they are bankrupt.
123mart123
Active Member
i think you may be confusing revenue, earnings and free cash.
Stripes
Premium Member
The company expects free cash flow to greatly improve in fiscal ‘24, approaching levels last achieved pre-pandemic. Specifically, the CFO said the company expects free cash flow to come in around $8 billion for FY 24.
Source:
Although small, the 2024 film slate does look promising. The trailers for Kingdom of the Planet of the Apes and Inside Out 2 were very well-received and look fantastic. Inside Out 2 was also the most watched animated trailer launch in Disney history with 157 million views in 24 hours. You also have Deadpool 3 and Mufasa in calendar ’24. Of course, we can only wait and see what actually happens. Disney+ is expected to become profitable in Q4 this fiscal year, which Disney has been upfront about since they announced the service.
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AdventureHasAName
Well-Known Member
... and it didn't kill off the company. Why? Hardcore brand loyalists. No matter what happened to the economy (2008 housing collapse) or what dumb thing TWDC did (overextended in Paris), the loyalists were enough to keep the company afloat in hard times. What I am saying is that core of brand loyalists is severely diminished (for a variety of reasons - the biggest being pricing the middle class out of the parks and political involvement).
TWDC knew the storm was coming. The company had brutal layoffs in the spring of 2009 after encouraging execs to resign with a good bye package . If I only had a lot of cash back then. I would have bought into the markets in April 2009 at the market bottom when many nationwide lost their jobs and homes in 2008,09.