Disney Q3 FY2019 Earnings

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Darkprime

Well-Known Member
Original Poster
Webcast

PDF of Q3 Earnings Results

From the release

The Walt Disney Company today reported quarterly earnings for its third fiscal quarter ended June 29, 2019. Diluted earnings per share (EPS) from continuing operations for the quarter decreased 59% to $0.79 from $1.95 in the prior-year quarter. Excluding certain items affecting comparability(1), EPS for the quarter decreased 28% to $1.35 from $1.87 in the prior-year quarter. EPS from continuing operations for the nine months ended June 29, 2019 decreased to $5.98 from $6.81 in the prior-year period. Excluding certain items affecting comparability(1), EPS from continuing operations for the nine months decreased 15% to $4.75 from $5.60 in the prior-year period.

“Our third-quarter results reflect our efforts to effectively integrate the 21st Century Fox assets to enhance and advance our strategic transformation,” said Robert A. Iger, Chairman and Chief Executive Officer, The Walt Disney Company. “I’d like to congratulate The Walt Disney Studios for reaching $8 billion at the global box office so far this year--a new industry record--thanks to the stellar performance of our Marvel, Pixar and Disney films. The incredible popularity of Disney’s brands and franchises positions us well as we launch Disney+, and the addition of original and library content from Fox will only further strengthen our direct-to-consumer offerings.” On March 20, 2019, the Company acquired Twenty-First Century Fox (21CF) for cash and the issuance of 307 million shares. Results for the current quarter and nine months reflect the consolidation of 21CF and Hulu LLC (Hulu) activities.
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S

seascape

Well-Known Member
There was a lot to digest in the report and from the conference call. But overall Parks and Resorts are fine. Attendance was down in both Disneyland and Walt Disney World but thanks to merchandise in Disneyland per cap spending was up as were cash ticket sales. That was an important thing to consider. More single day or multiday tickets were sold than last year and the decrease came from Annual passholders. The problem they had was the opening of RotR. If they didn't mess up the construction, the Disneyland numbers would be better. However IMHO, due to that problem, they are opening WDW's GE early with only one ride and fully opening the land in December. The trade off may work to their advantage. Anyway in the long run none of that matters. Provided GE is as good as the reviews have been it will be a huge success and drive a major increase in profits and attendance. I know there are some that don't like the land but there are also some that don't like HP. That is life. But the results from the Parks were fine and everyone has their own taste and opinions.
 

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