Disney’s Q2 FY23 Earnings Results Webcast

[Sirwalterraleigh]

Right. He's the one who bought it in the first place. He is incredibly concerned with his legacy, and this would be an incredible embarrassment to him. He's already been brought down from where he was. Between the freefall of all this and the Florida controversy (which I do not believe is going to help him), he's scrambling. He probably wishes he had run for president in 2020.

What he should have done…was name a
Competent successor at least 5 years ago…

He said he would do it as a condition of getting the job 20 years ago and ended up being a bigger egomaniac/failure at succession Than the guy he replaced

He lied to Roy Disney’s face…the story is written now

 

[Trauma]

View attachment 715689

Disney stock is crashing

Nintendo is releasing another masterpiece video game coming soon to a silver screen near you

The sun shining

Does it get any better?

 

[Sirwalterraleigh]

Disney stock is crashing

Nintendo is releasing another masterpiece video game soon to be at a silver screen near you

The sun shining

Does it get any better?

Oh yeah…I think I can gets me my Zelda tonight

 

[GhostHost1000]

Disney stock is crashing

Nintendo is releasing another masterpiece video game coming soon to a silver screen near you

The sun shining

Does it get any better?

Yes it does actually. No park reservations needed for next year (likely because they don’t expect enough to worry about it)

 

[Casper Gutman]

none of those things you described happened sufficiently during the “fat” years, so we’re not missing out.

It can get MUCH worse.

PS: And the modern Zelda games are beautiful but very boring.

 

[Trauma]

Oh yeah…I think I can gets me my Zelda tonight

Midnight.

 

[CaptainAmerica]

PS: And the modern Zelda games are beautiful but very boring.

Fight me in real life.

 

[WaltsTreasureChest]

What he should have done…was name a
Competent successor at least 5 years ago…

He said he would do it as a condition of getting the job 20 years ago and ended up being a bigger egomaniac/failure at succession Than the guy he replaced

He lied to Roy Disney’s face…the story is written now

Iger won’t find a replacement until he tries to replicate the success he had back in 2019. Which isn’t going to happen

 

[Vegas Disney Fan]

As a huge Disney fan I’ve debated buying Disney stock several times but just don’t see an upside, it’s been stagnant for a decade, with the exception of the Covid bounce and fall it’s done nothing since the early teens.

I’ve moved much of my investments out of stocks and into CDs, I’d rather get a guaranteed 5% than risk it in a wild market, my IRA (which I can’t reinvest without taking a penalty) was down 1% last year, that drives me crazy.

 

[Sirwalterraleigh]

Iger won’t find a replacement until he tries to replicate the success he had back in 2019. Which isn’t going to happen

And that’s not even possible. Every single variable has changed

It’s akin to people in the 1935 in the dust bowl saying “remember when we were drinking illegal hooch and doing the Charleston in Astoria back in 1928? Let’s just wait for that Again ”

 

[Sirwalterraleigh]

As a Disney huge fan I’ve debated buying Disney stock several times but just don’t see an upside, it’s been stagnant for a decade, with the exception of the Covid bounce and fall it’s done nothing since the early teens.

I’ve moved much of my investments out of stocks and into CDs, I’d rather get a guaranteed 5% than risk it in a wild market, my IRA (which I can’t reinvest without taking a penalty) was down 1% last year, that drives me crazy.

Not the time to buy at all…

I like to point out the folks about 18 Months ago saying it was a “sure thing” at $160…then $150

But it’s going down. But here’s the advice from a guy that once bought it at $11.65 a share…
The stength of Disney stock is its stability in down times. It’s been a rock

So while it make sink to $30-40….it will go up like a rocket when the conditions turn upward Again

 

[Rteetz]

Again... huh?

The CFO said in a quarterly call (in which there could be consequences for not telling the truth) that WDW increased in volume (the number of people attending).

I really don't care what The Laughing Place's assessment is. They're not the CFO.

What was down was overall profit due to increased costs.

We're into the 3Q, and if attendance is 'soft' now then it's 'soft,' maybe. But the 2Q (Jan, Feb, Mar) was not soft.

That’s not quite what I gathered from the call and laughing place wasn’t the only one to say such. I just used them as an example.

That said, it’s not a hard assumption or observation to make that things are starting to soften including with the Q2. I’m not saying attendance is way down and it’s time to panic or something either but it’s not balls to the wall let’s get our postponed pandemic travel in now either.

 

[TheMaxRebo]

Well, Max…we go back along way (whether you realize it or not…like rteetz )…and I’ve never for a second had any urge to trust what he says.

He has had a lot of success by Wall Street standards…but a mixed bag by “Disney standards”

I think his ego hurt so he executed 66 on Slaphead…but he didn’t plan on leaving in 2 years

I’ve seen this fish before.

But If his ego isn’t boosted…he may need “family time”…again…

Ok, well, be it tomorrow, 18 months, 5 years, whatever .... Not have a proper succession plan and leaving it to Chapek is on Iger and if it plays out again in a similar way that will be a very lasting negative element to his legacy - this is something he needs to correct

 

[Sirwalterraleigh]

Ok, well, be it tomorrow, 18 months, 5 years, whatever .... Not have a proper succession plan and leaving it to Chapek is on Iger and if it plays out again in a similar way that will be a very lasting negative element to his legacy - this is something he needs to correct

Egomaniacs are the LAST people to realize the value of a graceful exit…

So that’s the deal here

I look like more of an Eisner fan everyday…but one of the things he gets NO credit for is accepting defeat with Roy, doing an appropriate transition, and leaving and never saying a word again.

Iger already pooched that…and he let the clown take over in the first place…cause he’s a coward.

So let it be written…so let it be done

 

[CaptainAmerica]

That’s not quite what I gathered from the call and laughing place wasn’t the only one to say such. I just used them as an example.

That said, it’s not a hard assumption or observation to make that things are starting to soften including with the Q2. I’m not saying attendance is way down and it’s time to panic or something either but it’s not balls to the wall let’s get our postponed pandemic travel in now either.

This is what happened in the domestic parks. Based on the way it was written, this should be in decreasing order of magnitude.

1. Disney Cruise Line did better because of the Wish. (Revenue up, costs up, profit up)
2. Walt Disney World did worse because of higher costs; partially offset by higher attendance and more room nights sold. (Costs up, revenue up, profit down)
3. Disneyland did better because of higher attendance and higher prices, partially offset by higher costs. (Revenue up, costs up, profit up)

Walt Disney World was net-worse, and Disneyland was net-better. Between the two of them, they were basically flat.

 

[Ayla]

The stock will bounce back. This is a clear overreaction.

I’m buying more shares.

Yep. Eight percent drop? Pffft. No big deal. We can discuss it "tanking" when it hits 25%.

 

[Jrb1979]

That’s not quite what I gathered from the call and laughing place wasn’t the only one to say such. I just used them as an example.

That said, it’s not a hard assumption or observation to make that things are starting to soften including with the Q2. I’m not saying attendance is way down and it’s time to panic or something either but it’s not balls to the wall let’s get our postponed pandemic travel in now either.

To be fair, travel in general is on a downslope. Universal is offering but 2 get 3 days free again.
I knew this summer was going to be soft once I hear my local Cedar Fair park sold 1 million season passes. That tells me people are opting to stay close to home for vacation at least this summer.

 

[Sirwalterraleigh]

This is what happened in the domestic parks. Based on the way it was written, this should be in decreasing order of magnitude.

1. Disney Cruise Line did better because of the Wish. (Revenue up, costs up, profit up)
2. Walt Disney World did worse because of higher costs; partially offset by higher attendance and more room nights sold. (Costs up, revenue up, profit down)
3. Disneyland did better because of higher attendance and higher prices, partially offset by higher costs. (Revenue up, costs up, profit up)

Walt Disney World was net-worse, and Disneyland was net-better.

Agreed…which is also not what you’re gunning for entering an obvious soft booking period

 

[Sirwalterraleigh]

The stock will bounce back. This is a clear overreaction.

I’m buying more shares.

You do know there is going to be a recession, right? Cause “numbers”
The hypothetical becomes a reality at somepoint

You might have to get a job to buy those APs next time

Yep. Eight percent drop? Pffft. No big deal. We can discuss it "tanking" when it hits 25%.

So the 60% drop in about 18 month and the 30% year over year is a good sign?

Prolly right.

 

[CaptainAmerica]

So the 60% drop in about 18 month and the 30% year over year is a good sign?

I'm a big fan of the 10% drop over 5 years, personally.