Walt Disney Full Year 2023 Earnings: EPS Misses Expectations

Simply Wall St

November 14, 2023

Walt Disney (NYSE:DIS) Full Year 2023 Results

Key Financial Results

Revenue: US$88.9b (up 7.5% from FY 2022).
Net income: US$2.35b (down 26% from FY 2022).
Profit margin: 2.6% (down from 3.9% in FY 2022).
EPS: US$1.29 (down from US$1.75 in FY 2022).

revenue-and-expenses-breakdown — NYSE:DIS Revenue and Expenses Breakdown November 14th 2023

All figures shown in the chart above are for the trailing 12 month (TTM) period

Walt Disney EPS Misses Expectations

Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 27%.

The primary driver behind last 12 months revenue was the Entertainment segment contributing a total revenue of US$40.6b (46% of total revenue). Notably, cost of sales worth US$79.9b amounted to 90% of total revenue thereby underscoring the impact on earnings. The most substantial expense, totaling US$6.64b were related to Non-Operating costs. This indicates that a significant portion of the company's costs is related to non-core activities. Explore how DIS's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 5.1% p.a. on average during the next 3 years, compared to a 8.3% growth forecast for the Entertainment industry in the US.

Performance of the American Entertainment industry.

The company's shares are up 5.7% from a week ago.

Risk Analysis

What about risks? Every company has them, and we've spotted 2 warning signs for Walt Disney you should know about.

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Discover if Walt Disney might be undervalued or overvalued with our detailed analysis, featuring fair value estimates, potential risks, dividends, insider trades, and its financial condition.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.