News Disney’s Q2 FY25 Earnings Results Webcast

[Kamikaze]

It will take some time to read through this…but what’s a shock today is that no one - not a soul - from analysts down to the most diehard Disney fans on this board - expected a good report this time.

It’s why it sticks out like a fish over whatever. Very Oz like.

Seems like we are in some type of non- information flooding world this morning…where information can be a “surprise”

Very odd in the context.

Now when is villians land (in the UAE) opening?

Theres nothing like what Tesla did when they first had a huge drop and reported 'unrealized gains' on the company's Bitcoin holdings.

Disney and other 'old guard' companies have never been in the business of faking or falsifying reporting, even if scumbag companies do. I only skimmed the report so far, but it all looks pretty standard to what they usually report, no moving money around more than usual or counting down anything.

 

[TheMaxRebo]

-Mark Twain - TWDC

- Michael Scott

 

[Sirwalterraleigh]

Twisting words are 100% part of an earnings call and media releases and I expect both of those, the actual earnings paperwork that is filed is a different level that most companies won't cross as that is when you can get in some actual trouble.

You mean when the largest banks got caught opening fake accounts with personal data to create false earnings in the hundreds of billions? And basically had to pay what amounted to a parking ticket for it?

The point is that the idea there are “watchdogs” and regulations in place to keep the greed brokers in line is kinda fairy tale. It’s been replacement by the “confidence game”. I’m worth what I think I am…now buy some!

Disney isn’t doing anything like that…but are they moving line items up and down and around again to try and paint a good spin and create the idea they’re getting “bigger”?

You bet your @$$…remember their stock still sucks…even if it gets a couple buck nudge today. It’s a bad investment. And you got a ceo that has lost his fastball

Dubai…not exactly Walt’s dream there

 

[CaptainAmerica]

- Michael Scott

- Wayne Gretzky

 

[Trauma]

It's a little nuts to suggest they are producing fraudulent theme park numbers when it really wouldn't be necessary given how much they have been trying to manage expectations of soft numbers for the parks. This would be a little like someone changing a D to an A rather than a B on a report card, not to mention a rather blasé attitude to future scandal and jail time.

Anyway...

This is interesting in comparison to Universal's recent theme park numbers and goes against the narrative we have been seeing on here about Disney's consumers deserting them in droves and finding better value at their closest competitor in Orlando. I don't like how they have been running WDW and don't know why this is, but it does seem very interesting to me that what is treated like common sense around here seems to actually be false.

I don’t find any Universal attendance drop to be surprising. Why would anyone go there now when Epic is about to open ?

If Disney was about to open a 5th gate I think we would see a similar phenomenon.

 

[Kamikaze]

- Michael Scott

#MyReferenceButWorse

 

[JD80]

It's a little nuts to suggest they are producing fraudulent theme park numbers when it really wouldn't be necessary given how much they have been trying to manage expectations of soft numbers for the parks. This would be a little like someone changing a D to an A rather than a B on a report card, not to mention a rather blasé attitude to future scandal and jail time.

Anyway...

This is interesting in comparison to Universal's recent theme park numbers and goes against the narrative we have been seeing on here about Disney's consumers deserting them in droves and finding better value at their closest competitor in Orlando. I don't like how they have been running WDW and don't know why this is, but it does seem very interesting to me that what is treated like common sense around here seems to actually be false.

There are a handful of loud prolific posters that created an echo chamber that Disney was failing and some people assumed it was common sense when in reality most people don't know anything.

 

[TheMaxRebo]

Theres nothing like what Tesla did when they first had a huge drop and reported 'unrealized gains' on the company's Bitcoin holdings.

Disney and other 'old guard' companies have never been in the business of faking or falsifying reporting, even if scumbag companies do. I only skimmed the report so far, but it all looks pretty standard to what they usually report, no moving money around more than usual or counting down anything.

And why would this be the quarter to lie and risk that? Comcast was down so they would have had an excuse/could just be more in line with them or if you lie, just say less negative than them, not this positive

Plus the Abu Dhabi news would be a distraction from negative earning anyway so really not the quarter to risk limiting to the SEC

 

[ctrlaltdel]

Think the discounts are more of a factor of getting people there in a slowing economy which requires opening WDW back up to middle class prices. But I am surprised the booking numbers and occupancy numbers are so high in the face of the deep discounts. Shows they are likely working as intended. They have plenty of room to fall on room prices while being majorly profitable.

Pretty terrific earnings call for them. Streaming has stabilized and is a reliable money maker. Movies are a bit shaky this year. Still a lot of long term problems to figure out in multiple areas of the business. Who knows if the stock rebounds, but from strictly a financial perspective the company is very healthy.

 

[Disstevefan1]

YAY!

 

[Sirwalterraleigh]

Theres nothing like what Tesla did when they first had a huge drop and reported 'unrealized gains' on the company's Bitcoin holdings.

Disney and other 'old guard' companies have never been in the business of faking or falsifying reporting, even if scumbag companies do. I only skimmed the report so far, but it all looks pretty standard to what they usually report, no moving money around more than usual or counting down anything.

Very unexpected…and not the picture that has been painted on the ground by P&R…with the exception of DCL

Just saying

And I know I’m not alone because I’m not getting nearly the blowback I usually would when I question the C-Suite

Very “subdued”…which hints that expectations Weren’t there.

 

[TheMaxRebo]

Think the discounts are more of a factor of getting people there in a slowing economy which requires opening WDW back up to middle class prices. But I am surprised the booking numbers and occupancy numbers are so high in the face of the deep discounts. Shows they are likely working as intended. They have plenty of room to fall on room prices while being majorly profitable.

Pretty terrific earnings call for them. Streaming has stabilized and is a reliable money maker. Movies are a bit shaky this year. Still a lot of long term problems to figure out in multiple areas of the business. Who knows if the stock rebounds, but from strictly a financial perspective the company is very healthy.

So far so good for today for the stock

 

[Kamikaze]

And why would this be the quarter to lie and risk that? Comcast was down so they would have had an excuse/could just be more in line with them or if you lie, just say less negative than them, not this positive

Plus the Abu Dhabi news would be a distraction from negative earning anyway so really not the quarter to risk limiting to the SEC

There's also that aspect. Disney is far from being a company that you-know-who likes, so he could order a SEC investigation at any time, something he's not going to do to his little buddy at Tesla.

 

[lentesta]

I'm pleasantly surprised by the domestic theme park attendance numbers, especially for 3Q and 4Q.

It shows how much of a draw the parks are, even for international visitors.

And the current discounting seems like it'll shore up any dip in that.

 

[Sir_Cliff]

I don’t find any Universal attendance drop to be surprising. Why would anyone go there now when Epic is about to open ?

If Disney was about to open a 5th gate I think we would see a similar phenomenon.

That wouldn't explain the drop also in Hollywood but I guess we will ultimately see in time.

We now have multiple quarters of declining attendance at Universal Orlando that people on here keep putting down to people holding off on visiting the resort due to Epic's opening while WDW has been holding up ok given the general economic climate. This suggests that attendance at both resorts is pretty self-contained as the people delaying their Orlando vacations don't seem to be showing up in lower numbers for WDW. That doesn't make much sense to me especially if consumer sentiment is shifting in Universal's favour, but shall see.

 

[JD80]

Think the discounts are more of a factor of getting people there in a slowing economy which requires opening WDW back up to middle class prices. But I am surprised the booking numbers and occupancy numbers are so high in the face of the deep discounts. Shows they are likely working as intended. They have plenty of room to fall on room prices while being majorly profitable.

Pretty terrific earnings call for them. Streaming has stabilized and is a reliable money maker. Movies are a bit shaky this year. Still a lot of long term problems to figure out in multiple areas of the business. Who knows if the stock rebounds, but from strictly a financial perspective the company is very healthy.

The deep discounts aren't part of this quarterly report. Bookings maybe but they aren't revenue yet.

 

[Dranth]

There are a handful of loud prolific posters that created an echo chamber that Disney was failing and some people assumed it was common sense when in reality most people don't know anything.

Disagree. Those folks exist, but it was more than that. We had multiple insiders indicating that things weren't going great. Multiple people who work for or run bookings companies talking about lower numbers.

None of that was definitive proof but it certainly made it look like things would be a little down or flat, not up.

 

[JD80]

So far so good for today for the stock

View attachment 857477

Can we have hourly updates from @John park hopper

 

[Sirwalterraleigh]

Bob has said several times today, both on Squawk Box and again on the earnings call, that the $30 billion parks investment they had previously discussed should be thought of as specifically for California and Florida. It's still kind of vague whether Cruise would be included in that number, but it's now very clear that international parks don't count.

Just words…they have walls up in two places…trust only what the shovels are telling you

- Mark Twain - TWDC

In seriousness, the Abu Dhabi resort is a shocker, to be sure.

But is it a “good” thing? We’re gonna long kick this one around

 

[Disstevefan1]

TWDC and its theme parks are indeed, TOO BIG TO FAIL