Heavy Disney Loss Expected In Thursday Report
Walt Disney Company earnings call expected to divulge loss of over $1-billion
As we get closer to The Walt Disney Company’s earnings call on Thursday, November, 12, we’re learning more about the company’s true standing during 2020.
This morning, The Street’s Tom Bemis reported:
Third-quarter earnings season slows down next week with relatively few S&P 500 companies reporting. Among the most notable on tap are Disney, Advance Auto Parts and Applied Materials…
Get Report is expected to report a loss of $1.29 billion, or 73 cents a share, on sales of $14.1 billion after the market closes on Thursday, based on a FactSet survey of 23 analysts.
In the same period a year ago, the company posted earnings of $1.07 a share on sales of $19.1 billion. It reported net income of $1.4 billion.
But, obviously, last year marked a banner period for the Walt Disney Studios as tentpole flick after tentpole flick led to record-breaking numbers at the box office. Of course, in 2019, the Disney theme parks also contributed to a solid financial picture.
However, even as there have been some upticks in 2020, the report will not be glowing.
- The stock has risen 8.2% since the company last reported earnings on Aug. 4.
- Quarterly estimates have fallen 73.4 cents a share in the past month.
- In the upcoming quarter, analysts are forecasting adjusted net income of $57.4 million, or 3 cents a share, on sales of $15.9 billion.
- For the year, analysts project revenue of $64.8 billion.
Meanwhile, The Walt Disney Company will discuss fiscal full year and fourth quarter 2020 financial results via a live audio webcast beginning at 4:30 p.m. EST. Results will be released after the close of regular trading on November 12, 2020.