Liquidice
DIS Veteran
- Joined
- Mar 10, 2019
In total, Disney invested about $2.9B into parks and resorts in 2020 and in 2021 (Disney's fiscal 2020 ended on October 2nd, 2021) they invested roughly $2.2B so a drop of over $600M ($632M if you do the math based on the earnings report).
(Note: I previously had this as $4B in 2020 and $3.5B in 2021 and a drop of $548M, but that was a total capital expenditures for Disney and not just for theme parks and resorts).
This is despite 26% revenue growth to $5.45B in the theme parks division for the quarter,
The company missed Wall Street estimates across the board during the quarter ended Oct 2., sending the stock down more than 4% in after-hours trading.
Despite Disney+ membership slowing, Bob Chapek felt that demand in the parks was still great, he said:
It seems interesting that they are investing less into the parks even though parks are their bread and butter in terms of revenue.
Disney shares are down more than 4% in after hours trading after disappointing the Q4 earnings call.
Source: https://www.cnbc.com/2021/11/10/disney-dis-fiscal-q4-2021-earnings.html
Also during Q4 earnings, Christine McCarthy, the CFO talked about cost cutting measures, despite a 99% increase in Parks revenue compared to Q4 2020 (obviously some parks were still closed during the same quarter last year)...
Interesting data into how many people opted for Genie+ as well...
(Note: I previously had this as $4B in 2020 and $3.5B in 2021 and a drop of $548M, but that was a total capital expenditures for Disney and not just for theme parks and resorts).
This is despite 26% revenue growth to $5.45B in the theme parks division for the quarter,
The company missed Wall Street estimates across the board during the quarter ended Oct 2., sending the stock down more than 4% in after-hours trading.
- Earnings per share: 37 cents adj. vs 51 cents expected, according to Refinitiv
- Revenue: $18.53 billion vs $18.79 billion expected, according to Refinitiv
Despite Disney+ membership slowing, Bob Chapek felt that demand in the parks was still great, he said:
“We’re seeing really great demand. Very thrilled with our demand. Not only internationally but especially domestically, but particularly, again, because of our guest experience improvements at numbers that are very, very strong and very, very healthy,” he said. “So not only do a lot of people want to come but when they come they want to really engage in Disney.”
It seems interesting that they are investing less into the parks even though parks are their bread and butter in terms of revenue.
Disney shares are down more than 4% in after hours trading after disappointing the Q4 earnings call.
Source: https://www.cnbc.com/2021/11/10/disney-dis-fiscal-q4-2021-earnings.html
Also during Q4 earnings, Christine McCarthy, the CFO talked about cost cutting measures, despite a 99% increase in Parks revenue compared to Q4 2020 (obviously some parks were still closed during the same quarter last year)...
Interesting data into how many people opted for Genie+ as well...
Christine McCarthy, the Chief Financial Officer, commented that “We can cut portion size, which is probably good for some people’s waistlines,” as one of the possible measures.
“We aren’t going to go just straight across and increase prices. We’re going to try to get the algorithm right to cut where we can and not necessarily do things the same way,” McCarthy said.
During the same call, McCarthy also noted that per capita guest spending increased by 30% over the last quarter. Additionally, nearly 33% of guests paid $15 per person to upgrade to Genie+ services.
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