Disney shakes up earnings call schedule to discuss Q2 2024 financial results

Apr 09, 2024 in "The Walt Disney Company"

Posted: Tuesday April 9, 2024 4:46pm ET by WDWMAGIC Staff

The Walt Disney Company has announced its plans to discuss its fiscal second quarter 2024 financial results on May 7, 2024, but with one significant change to its standard protocol.

Usually, Disney releases its results following the close of regular trading at around 4 pm ET. For the upcoming Q2 results on May 7, Disney says it will release the results before the opening of regular trading, followed by executives discussing the performance at 8:30 am ET.

Typically, companies announce earnings before the market opens to allow investors a full day to digest the information or to control the news cycle effectively, especially if they anticipate the announcement to be positive. Although unlikely to be related to parks, a positive announcement may relate to the company's Disney+ streaming service's positive performance in the quarter. All eyes will be on the May 7 webcast.

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Sirwalterraleigh17 days ago

He won’t like them anymore after he drops $10 on the day a month after begging everyone from Wall Street to Hollywood to vote for he and and his cronies on the board

MarvelCharacterNerd17 days ago

Or maybe here given all the speculation about "oooh why would they do an early morning call? What could it mean???" Maybe it just meant Bob likes mornings. lol

WoundedDreamer17 days ago

This a masterclass in misaligned expectations. I remember there was an early Disney earnings call when Sheryl Sandberg was on the board of directors. Her husband suddenly and tragically passed away, so Iger rescheduled the call early in the day so he could attend the funeral. A completely reasonable thing to do under the circumstances. This appears to have been nothing like that. No family or personal reason to reschedule the call was cited. So, the markets did what markets do. They assumed there was good news. Even without the bad forward-looking estimates, this wasn't a blockbuster quarter. It was fine, but not great. Streaming is either losing less money or making a profit depending on how you account for it. But overall, the streaming landscape doesn't look too different from last quarter. Was Iger trying to make the call a celebratory day for streaming? Because he completely misread the room. People were more panicked by the issues with linear television than they were excited about DTC eking out a profit (sort of). Moreover, I have to wonder what happened in the month of April. April 9th is when they announced that they would be having the early earnings call. One would assume they were feeling upbeat about 3rd quarter guidance when they scheduled the call. But over April red flags must have emerged. If there was a parks slowdown, it would have had to really started to appear late March or early April. If there's a bit of good news in this quarter, it seems like Hong Kong Disneyland is bearing fruit from their Frozen land. While I may have quibbles about the spending priorities and design decisions at Hong Kong Disneyland, I can't help but be pleased when an entity profits from perseverance and solid investment. This makes it significantly more likely that the government of Hong Kong will be willing to make further investments into the park and resort. So, there's a little parks positivity! And of course, DCL should have a fantastic 2025. This year is going to be a ramp up, but 2025 is when they should reap the rewards. That early-2025 film slate is looking a little precarious. While there are still holes to be filled, Marvel could be in for a turbulent 2025. Call me cynical, but I'm not too upbeat about Captain America 4 or Thunderbolts. With that said, I am intrigued by Fantastic Four. That movie and franchise could relaunch Marvel in a way I don't think Deadpool 3 can. Not that Deadpool 3 won't be successful (I'm expecting a billion+ gross), but I think it will be its own thing with limited MCU interaction. Fantastic Four can actually meaningfully alter the course of the MCU. That's a lot of pressure to put on a movie in its first outing, but it's quite important. Elio and Snow White are also probably bombs. That Spring release schedule is going to be a bumpy time. I wonder if Disney has more Disney+ shows in the pipeline they're planning to convert to theatrical releases. And as for 2024, Inside Out 2 better perform...

Nubs7018 days ago

He just wants to get into his office shower before all the hot water gets used up.

Sirwalterraleigh18 days ago

Maybe on the disboards? 🤔

JoeCamel18 days ago

Lilo is that you?

MarvelCharacterNerd18 days ago

Or maybe not everyone is aware that Bob is a morning person and I wanted to add that information to the discussion?

Sirwalterraleigh18 days ago

..:you might have missed the joke there 🤔

MarvelCharacterNerd18 days ago

He's well known for being an early riser - up before dawn to work out and get to the office before anyone else. Google all the articles that talk about him getting up at 4 a.m.

Sirwalterraleigh18 days ago

The yacht was probably casting off at 12 PST…good call 👍🏻👍🏻

CastAStone18 days ago

There doesn’t have to be any sort of business reason. Maybe bob just doesn’t want to do late afternoon calls anymore.

MisterPenguin19 days ago

Just like how Bob played Brian's ego by bidding up Sky. And since Fox owned part of Sky, Comcast had to buy out Disney's acquired share. Comcast: You know that extra money you had to pay to acquire Fox, well, here, have it back and give us your part of Sky, which, as mostly a linear network, will tremendously drop in value over the next decade. Thanks!

Sirwalterraleigh19 days ago

It would be very silly to equate no crash as evidence that one is impossible

Lilofan19 days ago

But I love Wall Street long term. The Dow is in record setting territory again and my 401K and other investments are running like the bulls ! Its a great time to be an investor ! Some many had predicted the market crashing at any moment ( for the last 2 years ) , how wrong they are !