Walt Disney Company Quarter 2 Earnings Report 2020

[rteetz]

https://thewaltdisneycompany.com/app/uploads/2020/05/q2-fy20-earnings.pdf

 

[rteetz]

Revenues above expectations at $18.01 billion.

 

[rteetz]

Impact due to COVID-19 on Parks, Experiences and Products was $1 billion. 10% decrease from Q2 in 2019.

 

[rteetz]

Bob Chapek said that Disney is confident in their ability to withstand disruption and emerge in a strong position.

 

[rteetz]

Studio Entertainment saw an 18% increase from Q2 2019.

 

[rteetz]

Direct to Consumer up over 100% since previous quarter.

 

[rteetz]

Park income down 69%.

 

[JaNelson38]

We estimate the COVID-19 impact on operating income at our Parks, Experiences and Products segment was approximately $1.0 billion primarily due to revenue lost as a result of the closures. In total, we estimate that the COVID-19 impacts on our current quarter income from continuing operations before income taxes across all of our businesses was as much as $1.4 billion, inclusive of the impact at the Parks, Experiences and Products segment


$1 billion loss for approximately 50 days closed at the parks. $20 million per day.

Unsustainable for a long-term shutdown. For those who think they're gonna be closed well into the summer, its just not going to happen.

 

[e_yerger]

Park income down 69%.

nice

 

[Mit88]

Not as much as estimated, but still not a pleasant number

 

[rteetz]

Disney+ over 50 million subs. ESPN+ at 7.9 million subs, and Hulu at 32.1 million.

 

[rteetz]

Iger and Chapek will both be on the call.

 

[xuxa777]

Plus Q2 (this report) ended March 28th parks were only closed for 13 days, Q3 is where it is really going to hurt

 

[rteetz]

Disney estimates that the company impact from COVID-19 is $1.4 billion

 

[rteetz]

Cap investments in this quarter down slightly in this quarter due opening of SWGE.

 

[tlmadden73]

Disney stock closed at 101.09 today.

I would expect it to tank tomorrow after this call.

 

[CastAStone]

Disney finished the quarter with FOURTEEN BILLION DOLLARS in Cash on Hand. They are Prepared.

 

[JaNelson38]

Disney estimates that the company impact from COVID-19 is $1.4 billion

Bottom line, the $20-30 million loss per day that was reported a couple of weeks ago is accurate.

 

[CastAStone]

I would expect it to tank tomorrow after this call.

Why?

 

[rteetz]

Prior to park closures in Q2 guest spending was up.