Walt Disney Co. is locked in a nasty proxy fight with an activist investor as it prepares for its first earnings report since the return of its longtime CEO.
Just another ho-hum quarterly report from the Magic Kingdom, which is navigating an austerity program while fending off some of the biggest media companies in the world for consumers’ entertainment dollars. “With a proxy battle looming, management’s best avenue to defend against activism is a higher stock price,” Wells Fargo analyst Steven Cahall said in a recent note. “We expect DIS to back away from FY24 DTC subscriber targets, in favor of empowering content creation and streaming profitability.”
Revenue: The FactSet consensus called for Disney to post revenue of $23.4 billion for its first quarter, up from $21.8 billion a year prior. Those contributing to Estimize were looking for $23.4 billion in sales.
Hopefully they go belly up.
What to expect? Go woke go broke.