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

[Vinnie Mac]

I love the parks, but have never considered it Disney's core.

I say it's a 50/50 split. Everyone knows the big disney movies. Everyone else knows what Disneyland is.

 

[sedati]

I say it's a 50/50 split. Everyone knows the big disney movies. Everyone else knows what Disneyland is.

Knows what Disneyland is, yes- but gets to go to Disneyland?

I mean, many who go to Disneyland might know what Club 33 is, but how many get to go?

 

[Stevie Amsterdam]

That doesn’t account for the financial dumpster fire that is Shanghai Disneyland. They’ve also been heavily investing in Disneyland Paris.

And rightly so, since DLP hadn’t had any real investment over the past decades with - maybe - the exception of Ratatouille. Which WDW then later cloned in Epcot.

However, I was t aware that Shanghai was such a ‘dumpster fire’ so I’ll be sure to look into that.

 

[BrianLo]

However, I was t aware that Shanghai was such a ‘dumpster fire’ so I’ll be sure to look into that.

It wasn't and isn't. Seems like wishful thinking on some people's behalf. Obviously it struggled against more recent closures, but those seem in the rearview mirror again.

 

[BrianLo]

@lentesta has mentioned on two consecutive podcasts that he has heard rumblings that the annual parks budget was increased by a billion dollars shortly after fiscal year end. I could see something like that being confirmed.

"Parks", or Parks Resorts and Products? Because they more or less just committed to spending another billion on the Global Dreams cruise ship.

 

[Stevie Amsterdam]

It wasn't and isn't. Seems like wishful thinking on some people's behalf. Obviously it struggled against more recent closures, but those seem in the rearview mirror again.

That's what I thought. They faced some challenges with the covid restrictions (who hasn't?) but outside of that they seem to be very successful.

 

[RSoxNo1]

"Parks", or Parks Resorts and Products? Because they more or less just committed to spending another billion on the Global Dreams cruise ship.

That's what I was thinking as well.

 

[jpinkc]

Yeah I think thats where the Bulk of the money is going now. IE Disney Cruise Lines, which I guess is part of Parks and Products?

 

[CaptainAmerica]

"Parks", or Parks Resorts and Products? Because they more or less just committed to spending another billion on the Global Dreams cruise ship.

"Disney Parks, Experiences, and Products," aka DPEP (pronounced D-pep).

 

[MisterPenguin]

@lentesta has mentioned on two consecutive podcasts that he has heard rumblings that the annual parks budget was increased by a billion dollars shortly after fiscal year end. I could see something like that being confirmed.

"Parks", or Parks Resorts and Products? Because they more or less just committed to spending another billion on the Global Dreams cruise ship.

That's what I was thinking as well.

Yeah I think thats where the Bulk of the money is going now. IE Disney Cruise Lines, which I guess is part of Parks and Products?

"Disney Parks, Experiences, and Products," aka DPEP (pronounced D-pep).

I'm assuming that cruise ships are in "Domestic."

Disney just bought a new one cheaply, but added costs for retrofit bring it up to $1B.

You can see that Parks and Cruise capex went from $1.6B in 2021 to $2.7B in 2022.

Total capex for everywhere will go up another $1.7B for 2023.

Christine McCarthy at the last quarterly call:

Capital expenditures totaled nearly $5 billion in fiscal 2022, in line with our expectations, and we currently expect that capex will increase in fiscal 2023 to a total of $6.7 billion, driven by higher spend across the enterprise.​

 

[jpinkc]

"Disney Parks, Experiences, and Products," aka DPEP (pronounced D-pep).

Sound like something I will need to settle my stomach after we hear this load of garbage they will be spewing.

 

[mkt]

"Disney Parks, Experiences, and Products," aka DPEP (pronounced D-pep).

D-pep sounds like something the kids take before they go out for a night of using emojis and doing something with someone named molly.

 

[Slpy3270]

The Iger-led restructuring is likely to be announced around the earnings conference date.

Disney Reorganization Looms Ahead Of First Earnings Report Since Bob Iger’s Return

With Disney set to report earnings on February 8, long-awaited restructuring and layoff plans are expected to be revealed in the coming days.

deadline.com

Layoffs are expected to be "minimal" compared to what other media companies have been dealing with.

 

[RSoxNo1]

View attachment 695056

I'm assuming that cruise ships are in "Domestic."

Disney just bought a new one cheaply, but added costs for retrofit bring it up to $1B.

You can see that Parks and Cruise capex went from $1.6B in 2021 to $2.7B in 2022.

Total capex for everywhere will go up another $1.7B for 2023.

Christine McCarthy at the last quarterly call:

Capital expenditures totaled nearly $5 billion in fiscal 2022, in line with our expectations, and we currently expect that capex will increase in fiscal 2023 to a total of $6.7 billion, driven by higher spend across the enterprise.​

I would assume the cruise ships are in International. Don't they have to have a port of registry that is non-US?

 

[MisterPenguin]

I would assume the cruise ships are in International. Don't they have to have a port of registry that is non-US?

I dunno.

I'm assuming that if they were in 'international' the figures there would be much larger.

 

[castlecake2.0]

Hearing some things about The Disney Store …

 

[tcool123]

Hearing some things about The Disney Store …

Hopefully that their bringing back in former highish performing locations

 

[Slpy3270]

Hopefully that their bringing back in former highish performing locations

IMO they're probably going to shut the whole thing down (shopDisney.com included) and simply sell their merch entirely through third parties.

 

[Disstevefan1]

It's all Bob's fault. Feel free to pick the Bob of your choice.

 

[Disorbust]

What have you heard about the Disneystore?