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Disney’s Q2 (Jan/Feb/Mar) FY 2021 Earnings Results Webcast on Thursday, May 13, 4:30ET.


Fully Pfizered!
Premium Member
Original Poster
Now, less than a month away!





Well-Known Member
Probably as usual we should temper expectations. I do think the updated safety protocols will be mentioned but I don’t know if their ready Just yet to announce fireworks. We shall see!


Well-Known Member
Interesting how the Jungle Cruise news sent the stock down and not up. Must mean D+ numbers aren't as high as investors are hoping (not surprising given everything reopening).

That should worry every Disney creative hoping for a theatrical release for their work right now. Plausible Chapek could impose austerity on the studios.....


Active Member
I’m expecting discussion around Disney plus and the cable business. The company talking about how excited they are Disneyland is back open. Maybe an announcement they increased capacity. No other specific announcements related to the parks. Any response to today’s CDC announcement will be that they are assessing the current policies and reserve the right to make future changes.


Premium Member
Docs are live -

"The most significant impact on operating income in the current quarter from COVID-19 was at the Disney Parks, Experiences and Products segment due to revenue lost as a result of the closures and reduced operating capacities. We estimate an additional $1.2 billion impact on the Disney Parks, Experiences and Products segment operating income compared to the prior-year quarter. The impacts of COVID-19 on our Disney Media and Entertainment Distribution segment, compared to the prior-year quarter, were less significant as lower revenues across film and television distribution windows due to the deferral or cancellation of significant film releases were largely offset by a reduction in the related costs.

The following table summarizes the second quarter segment revenue and segment operating income for fiscal 2021 and 2020 (in millions):"

Screen Shot 2021-05-13 at 4.11.19 PM.png

"Disney Parks, Experiences and Products

Disney Parks, Experiences and Products revenues for the quarter decreased 44% to $3.2 billion, and segment operating results decreased $1.2 billion to a loss of $406 million. Lower operating results for the quarter were due to decreases at our parks and experiences business, partially offset by growth at our consumer products business.

As a result of COVID-19, Disneyland Resort and Disneyland Paris were closed and our cruise business was suspended for all of the current quarter, whereas these businesses closed in mid-March of the prior-year quarter. Hong Kong Disneyland Resort was open for approximately 30 days during the current quarter, compared to approximately 25 days in the prior-year quarter. Walt Disney World Resort and Shanghai Disney Resort were both open in the current quarter. In the prior-year quarter, Walt Disney World Resort closed in mid-March and Shanghai Disney Resort closed in late January. Our parks and resorts that were open during the quarter operated at significantly reduced capacities.

At our consumer products business, operating income growth was driven by increases in merchandise and games licensing revenues. Growth in merchandise licensing revenues was driven by higher revenue from merchandise based on Star Wars, including The Mandalorian, Disney Princesses and Mickey and Minnie, partially offset by a decrease in revenues from merchandise based on Frozen.

The increase in games licensing revenues was primarily due to the fiscal 2021 release of Marvel’s Spider-Man: Miles Morales and higher royalties from Twisted Wonderland, partially offset by lower royalties from Star Wars Jedi: Fallen Order.

We estimate the total net adverse impact of COVID-19 compared to the prior-year quarter was a decrease in segment operating income of approximately $1.2 billion.

The following table presents supplemental revenue and operating income (loss) detail for the Disney Parks, Experiences and Products segment:"

Screen Shot 2021-05-13 at 4.08.18 PM.png


Well-Known Member
Today's report is a friendly reminder that streaming was always meant to be an insurance policy for Disney's core businesses (parks, TV and film) and that's exactly what we're seeing here. Streaming was never going to continue getting hot as the economy was reopening.


Hooray! People Are Paying Attention To Me!
Premium Member
In light of the recent CDC announcement, it will be interesting to see how many questions are centered around that.
Possible they will punt on anything they were going to announce in light of the new guidelines from the feds. I doubt they were expecting any major announcements on Covid today.

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