Disney’s Q2 FY23 Earnings Results Webcast

[Sirwalterraleigh]

View attachment 715683

Guard the bin!!!

 

[Tha Realest]

The parks have been ghost towns since 4/15.

But let’s call Bob and get done spin, huh?

Or maybe tight pants is serving popcorn to save some CP outlays?

iTs JuST sLoW AfTEr SpRInG BrEAk

Explain Memorial Day

 

[Sirwalterraleigh]

iTs JuST sLoW AfTEr SpRInG BrEAk

Explain Memorial Day

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Look further out…

…I mean as far as you can go…

Oh well…I’m sure buying those Halloween tickets for 8/16 the first morning was still a good move

 

[Tha Realest]

Will we cross the Chapek Line*?

*DIS closed at $91.80 the Friday before his dismissal

 

[Sirwalterraleigh]

Will we cross the Chapek Line*?

*DIS closed at $91.80 the Friday before his dismissal

We’re still Pre-recession.
Just as an aside…

 

[Sirwalterraleigh]

I don't disagree it made sense, I'm just laughing at how everything was supposed to change, and the stock price would skyrocket to record highs because of it. BUT, as you said, Chapek was on Iger, and Iger is the one that led the campaign to oust Chapek when he thought things were prime to turn around.

I guarantee Wall Street wants him fired

I don’t think they’ll do it…but they want him fired

Lucky for Bob

 

[BlakeW39]

Basically…the Disney parks model…specifically at wdw…
Was to make mass profits off products driven by satisfaction and Emotion by the customers.

Iger rejected that in accordance with a whacked out consumer economic theory that doesn’t believe in “competition”

So they deliberately have done investment piecemeal to maintain artificial crowd pressures that lead to higher cost “escape” products. Everything is done to “escape” the crowd…instead of pushing it through as it spent en masse.

Well the downside now is they’re so far behind on response capacity and the construction timelines have been fouled to the point that they’re stuck.

They’re one building cycle behind at all times - deliberately - when they invented profiting off being one ahead

Ok…back to quarterlies

Makes sense. I mean certainly I agree that Bob's strategy with the parks has been flawed at best. But they'll find out there's 'competition in Orlando' in 2025 when people like me skip a trip to WDW to go and see Epic Universe... which will somehow have more attractions than the 25 year old DAK and even the ~35 year old DHS.

This. And this is why I never bought into all the hype around the $17 billion number. Disney needed to announce things at least last year if they were doing something major to counter Epic Universe. The fact they scaled BACK tells me they won't do anything major to counter it. Iger's mystique is really falling off fast (remember when cast members were cheering for him in the streets and we heard how all is fixed at Disney when Chapek got canned?).

^^^

They definitely got nothing. Took them how long to build TRON? which exactly two people give a rats about?

 

[Slpy3270]

Looks like we already have an idea of what content is getting purged from Disney+ and Hulu.

The Mick is leaving Hulu by the end of the month and moving to Netflix beginning June 1 (at least in the US).

 

[Sirwalterraleigh]

Disney Stock Set For Worst Day Since CEO Bob Iger’s Comeback

Shares of Disney have now underperformed major stock indexes since Iger’s November return.

www.forbes.com

Disney Stock Falls on Uncertainty Over Streaming Profitability, Ad Weakness

Shares of Disney slipped as much as 9% in trading Thursday after the media conglomerate reported earnings for the first three months of 2023. Disney’s earnings report showed progress on the c…

variety.com

 

[CaptainAmerica]

Huh?

The decrease at Walt Disney World Resort was due to higher costs, partially offset by increased volumes. Higher costs reflected cost inflation, increased expenses associated with new guest offerings and higher depreciation. ​

More people came to WDW, but Disney's operating costs were higher.

 

[MisterPenguin]

More people came to WDW, but Disney's operating costs were higher.

Yes... that's my point all along.

 

[Sirwalterraleigh]

More people came to WDW, but Disney's operating costs were higher.

Yes... that's my point all along.

That’s actually a pretty big red flag…
If they has a strong attendance quarter with economic head winds hanging out there…and STILL posted bad EPS and revenues?

That is not good at all.

Don’t believe me…believe your broker

 

[CaptainAmerica]

Yes... that's my point all along.

Sorry, I didn't chase the replies all the way back up the chain.

FWIW, the main driver of the increased volume was occupied room nights, not attendance.

 

[CaptainAmerica]

If they has a strong attendance quarter with economic head winds hanging out there…and STILL posted bad EPS and revenues?

Parks didn't post bad revenues, they posted great revenues.

They posted bad costs, which was expected with inflation and will get worse in the short term with the new union deal.

 

[Sirwalterraleigh]

Sorry, I didn't chase the replies all the way back up the chain.

FWIW, the main driver of the increased volume was occupied room nights, not attendance.

Again…a red flag.

Every product has a ceiling on price. Making more money off price increases is an awful strategy that they’ve overextended already.

Nobody is paying $500 a night for caribbean.

 

[GhostHost1000]

That’s actually a pretty big red flag…
If they has a strong attendance quarter with economic head winds hanging out there…and STILL posted bad EPS and revenues?

That is not good at all.

Don’t believe me…believe your broker

It takes a larger employed team to distribute Figment popcorn buckets

Either that or the excess expense of building and destroying Harmonious

 

[Sirwalterraleigh]

Parks didn't post bad revenues, they posted great revenues.

They posted bad costs, which was expected with inflation and will get worse in the short term with the new union deal.

Sorry…that’s my mistake

Revenues are pointless. Parks contribute to stocks with profits and market shares…

So though I flubbed that…the point stands. If their labor and costs are eating up revenues that are based mostly price increases…what do you do now that attendance is falling?

Gonna need a lot of lemmings on the dining plan. More than will actually be there in totality.

 

[FutureCEO]

I feel like Disney would be fine if they sold most of Fox and keep National Geographic and a few classic movies.

 

[Sirwalterraleigh]

I feel like Disney would be fine if they sold most of Fox and keep National Geographic and a few classic movies.

Bandaid on a flesh wound

And nobody is gonna buy it for anywhere near what they did. That’s a write down that Bob would immediately be fired for and he’s not in that stage of his game

 

[GhostHost1000]

Sorry…that’s my mistake

Revenues are pointless. Parks contribute to stocks with profits and market shares…

So though I flubbed that…the point stands. If their labor and costs are eating up revenues that are based mostly price increases…what do you do now that attendance is falling?

Gonna need a lot of lemmings on the dining plan. More than will actually be there in totality.

Disney has backed themselves into a corner in so many ways. While attendance is slowing, Uni is going to be opening up another gate while all you have going on at WDW over the next few years is crickets chirping (and not from Tiana’s salt mine hot sauce beignet log flume)