Disney: "The Turning Point"
On November 8th, Disney reported its Q4 FY23 financial results.
While the Experiences segment (previously DPEP) continues to report impressive results, the market remains focused on the time consuming and difficult transition underway in the Video businesses. From a financial perspective, there’s one key question to be answered: will FY24 reveal the long awaited turnaround in the profitability of the Video businesses, setting the foundation for sustainable EPS and FCF growth at Disney?
Tomorrow morning, I will send subscribers my latest Disney research. The write-up focuses on the current financial and competitive considerations in the company’s linear and DTC businesses, along with thoughts on how their continued evolution will impact Disney’s consolidated financials in the years ahead. (As always, any portfolio changes will be disclosed to subscribers beforehand; the TSOH portfolio accounts for 100% of my investable assets.)
In advance of tomorrow’s update, I’ve removed the paywall on “The Turning Point” (link). This research was sent to subscribers in August, which came shortly after the company announced a second round of meaningful DTC price increases. As discussed in that write-up, I believe that this marks a very significant turning point for the future of The Walt Disney Company.
As always, my goal in removing the paywall on the Disney post is to give you a clearer sense for my thought process, as well as the complete portfolio transparency shared with subscribers. For long-term investors focused on owning high-quality businesses, you are likely to find value in the TSOH Investment Research service (along with hundreds of other paid subscribers).
If interested, you can see subscription options below.
As always, thank you for your time. Have a great day.
NOTE - This is not investment advice. Do your own due diligence. I make no representation, warranty or undertaking, express or implied, as to the accuracy, reliability, completeness, or reasonableness of the information contained in this report. Any assumptions, opinions and estimates expressed in this report constitute my judgment as of the date thereof and is subject to change without notice. Any projections contained in the report are based on a number of assumptions as to market conditions. There is no guarantee that projected outcomes will be achieved. The TSOH Investment Research Service is not acting as your financial advisor or in any fiduciary capacity.