Disney Q1 Earnings Preview: Media Company Battles DeSantis, Musk, Peltz



Media giant Walt Disney Co (NYSE:DIS) will report first-quarter financial results after market close on Wednesday, Feb. 7, 2024.

Here’s a look at the earnings estimates, what analysts are saying and key items for investors to watch.

Earnings Estimates: Disney is expected to report first-quarter revenue of $23.685 billion according to data from Benzinga Pro. The company reported $23.512 billion in revenue in the prior year period.

Disney reported fourth-quarter revenue of $21.24 billion, which was up 5% year-over-year, but missed Street estimates. Disney has beaten revenue estimates from analysts in seven of the last 10 quarters with three quarters missing.

Analysts expect Disney to report first-quarter earnings per share of 99 cents, which would be in line with the first quarter of the prior year. Disney has beaten earnings per share estimates in seven of the last 10 quarters, with two misses and one in-line report.

What Analysts Are Saying: Analysts praised Disney’s cost-cutting measures and update on not selling off assets during its fourth quarter report.

“We see a breakup unlocking value, but can also see scope for better operating performance if the parks are clicking, and DTC is improving. Disney continues to actively seek new partners for ESPN, but other major steps seem back burner,” Rosenblatt analyst Barton Crockett said.

Crockett had a Buy rating on Disney and lowered the price target from $114 to $112 in December.

Strong cash flow growth guidance from Disney for fiscal …

Full story available on Benzinga.com


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