Who Needs Discounts - 26% Increase in Operating Income for Disney Parks in FY 2012

Discussion in 'The DIS Unplugged Podcast' started by jcb, May 8, 2012.

  1. jcb

    jcb always emerging from hibernation

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    Disney has just released its 2nd quarter earnings for FY 2012. I won't say too much about it now (I'm waiting on the conference call) but revenue and "operating income" (net earnings) are up significantly, but note that these do not break out revenue/net earnings domestically and internationally.

     
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  3. jcb

    jcb always emerging from hibernation

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    Bob Iger starts the earnings call talking about Avengers - which opened a month after Q2 ended. Given the John Carter disaster, I would have done the same.

    And in news that will shock no one, he confirms there will be a sequel.
     
  4. jcb

    jcb always emerging from hibernation

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    Iger: Fantasy and Dream extremely popular with strong bookings.

    Remember that Disney's Parks and Resorts segment includes the cruise ships. With winter sailings so popular, this likely helps to offset a slower time in the parks.
     
  5. jcb

    jcb always emerging from hibernation

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    Jay Rasulo mentions John Carter in passing. It was an "impairment."
     
  6. k5jmh

    k5jmh When Yuba plays the Rumba on his Tuba...

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    Impairment, LOL. Nice!

    Operating income is up, but what is their EBITDA?
     
  7. jcb

    jcb always emerging from hibernation

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    They don't say, using GAAP, instead.
     
  8. jcb

    jcb always emerging from hibernation

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    Jason Garcia has written an informative article on Disney's Q2 earnings and the comments made in this afternoon's earnings call.

    A couple of other points, he didn't make. While Iger wouldn't commit to additional hotel rooms at Disneyland, he didn't rule it out, either. He stressed that when the current expansions are completed, investors should look for the company to be "prudent" in further capital expenditures. I find myself wondering whether he thinks Carsland or Fantasyland expansion imprudent but this is the kind of double-speak you get in earnings calls (see above post about John Carter).

    The article notes domestic attendance is flat for the quarter. Rasulo also explained that this applies to out of state Disneyland attendance but that they are also seeing a big pickup in resident attendance and a strong demand for annual passes to DL. I attribute this to Tom's Tea Cup Challenge.
     
  9. GAN

    GAN DIS Veteran

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    All interesting ...hey, the stock has been a bullet the last few months
     
  10. dalt01

    dalt01 DIS Veteran

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    with Buena Vista as distributer and Marvel Productions as main production co., Paramount is also in there, they most likely saw black at about 400 million, the rest is gravy. Carter almost covered, they were talking about writing it down about 250 million which i am sure they are creative enough to do, but i doubt it was actually that much. this is another juggernaut in the vein of Pirates..........we will be seeing much more of these fellows in colorful spandex and body armor for many years to come
     

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