Disney’s Q1 FY23 Earnings Results Webcast - Wednesday, Feb 8, 2023

[Sirwalterraleigh]

This isn’t Disney War. Totally different circumstances. Iger will not be forced to resign even if Peltz wins his seats.

Eisner lost 40% and resigned…
The percentage doesn’t actually matter…it is taken like a vote of no confidence and investors run

Iger is done one way or another. That is set…it’s just timing and semantics now

I’m gonna Tell you two things that will be evident over time:
1. Iger stayed around too long
2. He was never that good in the first place…he did ok with really favorable conditions overall.

Watch it play

 

[Sirwalterraleigh]

Well that was a bust

You noticed?

The layoff/cost cutting announcement is not landing softly

 

[SteamboatJoe]

Studios is poorly executed…and fantastic is a dinosaur…

Don’t see how that’s a “strong” park at all?

I wouldn't say it is strong either but Railway is a relatively new ride featuring the company's flagship character. Star Wars is Star Wars. Toy Story is the marquee Pixar franchise. I agree that execution has been lackluster in areas but the brands alone are probably a big draw to the casual. Fantasmic! was just updated. Yes, some people on this board may think its old news, even with the update, but it still has fans and is still new to any first time visitor. Epcot has 3 rides covering an area that is probably close to the entire on-stage size of DHS.

 

[CastAStone]

Eisner lost 40% and resigned…
The percentage doesn’t actually matter…it is taken like a vote of no confidence and investors run

Iger is done one way or another. That is set…it’s just timing and semantics now

I’m gonna Tell you two things that will be evident over time:
1. Iger stayed around too long
2. He was never that good in the first place…he did ok with really favorable conditions overall.

Watch it play

But this situation isn’t anything like Eisner. Like, at all. It just involves the same company.

CEOs who lose a single board seat rarely resign. They just keep going.

 

[JD80]

But this situation isn’t anything like Eisner. Like, at all. It just involves the same company.

CEOs who lose a single board seat rarely resign. They just keep going.

but sirwalter knows everything

 

[Ghost93]

I just don't see why Iger would be at risk when he's only been back on the job for two months. There's no way he could possibly turn things around in two months. Maybe a year or two, but two months is absurd.

 

[Sirwalterraleigh]

But this situation isn’t anything like Eisner. Like, at all. It just involves the same company.

CEOs who lose a single board seat rarely resign. They just keep going.

Eisner lost ZERO board seats…Roy and gold resigned and he gained two

You’re getting too caught up on the Disney war thing…the history is anecdotal here

Iger is done because he ran pand left chapek and the things Iger promised prior to leaving are not enriching investors. That’s the nitty gritty here.

My analysis is in real time.

I Might be totally wrong…but I’m not gonna fold my hand in this poker game

 

[Sirwalterraleigh]

I just don't see why Iger would be at risk when he's only been back on the job for two months. There's no way he could possibly turn things around in two months. Maybe a year or two, but two months is absurd.

You gotta be bobs burner account then

 

[GimpYancIent]

Hmmmmmmm......"Disney Chief Financial Officer Christine McCarthy announced that capital expenditures, which include the costs for building and maintaining physical properties, will be reduced by $700 million across Disney Parks within the United States."

 

[Sirwalterraleigh]

but sirwalter knows everything

Ohhhh…bless your heart.

I’m wrong all the time…but unfortunately not enough for even my own desires when it comes to Disney predications. You can’t hate me more than I hate myself.

I always hope I’m wrong. It’s just not happening enough right now.

 

[Sirwalterraleigh]

Hmmmmmmm......"Disney Chief Financial Officer Christine McCarthy announced that capital expenditures, which include the costs for building and maintaining physical properties, will be reduced by $700 million across Disney Parks within the United States."

Can you translate what that means?

Are we getting that merry poppins spinner or no?

How about zootopialand?

 

[castlecake2.0]

You noticed?

The layoff/cost cutting announcement is not landing softly

The further you are away from a cash register or ride control panel the more you should be worried

 

[doctornick]

I just don't see why Iger would be at risk when he's only been back on the job for two months. There's no way he could possibly turn things around in two months. Maybe a year or two, but two months is absurd.

More importantly they beat estimates today and the stock responded positively so why would anyone think Iger would be at risk. Ostensibly he has the company heading in a favorable direction

 

[Sirwalterraleigh]

The further you are away from a cash register or ride control panel the more you should be worried

Creatives?

 

[doctornick]

Hmmmmmmm......"Disney Chief Financial Officer Christine McCarthy announced that capital expenditures, which include the costs for building and maintaining physical properties, will be reduced by $700 million across Disney Parks within the United States."

There’s a separate thread on the topic but yes Park CapEx is being reduced to $6B instead of $6.7B. Still a lot of money though.

 

[Sirwalterraleigh]

More importantly they beat estimates today and the stock responded positively so why would anyone think Iger would be at risk. Ostensibly he has the company heading in a favorable direction

$0.15???

Where did the growth come from? What are you seeing in that I’m missing?

And as far as Iger goes…he already has an end date…
Peltz is likely to ensure it holds. No cute extension this time.

Respectfully, I think a few here are missing what’s already happened.

 

[Sirwalterraleigh]

There’s a separate thread on the topic but yes Park CapEx is being reduced to $6B instead of $6.7B. Still a lot of money though.

If we get a breakdown of where that money is supposed to be going?…it Could be…

 

[GimpYancIent]

There’s a separate thread on the topic but yes Park CapEx is being reduced to $6B instead of $6.7B. Still a lot of money though.

Earnings report rhetoric is not very positive. Reductions in staff and reductions in expenditures all impact earnings. 1.8% uptick is not a popping champagne number.

 

[Stripes]

Hmmmmmmm......"Disney Chief Financial Officer Christine McCarthy announced that capital expenditures, which include the costs for building and maintaining physical properties, will be reduced by $700 million across Disney Parks within the United States."

“We also continue to invest in our parks and experiences globally and in other capital ticks across the enterprise and expect that fiscal 2023 capital expenditures will total approximately $6 billion. This is lower than our prior guide of $6.7 billion primarily due to decreases in CapEx on our domestic parks, reflecting, in part, some timing shifts.”

Obviously, there won’t be major projects breaking ground this year at domestic parks. Doesn’t mean the shovels won’t be in the ground next year though as it definitely sounds like there are some big domestic parks projects in the near future.

 

[Stripes]

I really don’t think Peltz has a chance. And I think he knows that. Disney’s response was very strong. Doesn’t mean they didn’t make mistakes. I think the Chapek contract was bonkers levels of idiotic. But Peltz mainly focused on the Fox acquisition because he claimed it ruined Disney’s balance sheet and “took away the dividend.” But that simply wasn’t true. Disney’s balance sheet was perfectly fine (and still isn’t bad by any stretch of the imagination) after the Fox acquisition. It was COVID that significantly increased their debt, not Fox.

The Peltz camp never responded to Disney’s response. Not a word. They know they’re not going anywhere.