It’s almost that time of year again when we get to hear from the leadership of The Walt Disney Company about the financial health of the company.
During this financial results call, these leaders will discuss the first fiscal quarter of 2023, as Disney stockholders, investors, and the general audience want to see where the company is financially, especially since Bob Iger took over as CEO only a couple of months ago.
These calls are a great indication of the financial health of the company. It’s also a good way to look across the channels and identify trends that are or aren’t working, as well as what Disney stakeholders and the general public have to look forward to for the next quarter.
The Walt Disney Company announced the date for its annual first quarter 2023 financial results call. This live audio webcast will run on Wednesday, February 8, 2023, at 4:30 p.m. ET/1:30 p.m. PT. Additionally, the results from this call will be revealed once the regular trading has ended on February 8.
Over the past year, Disney’s stocks have plummeted about 45%, the worst performance in nearly 50 years. Stockholders will likely want to hear about this downward trend, why it came about, and what Disney can do to reverse this downward slope.
Disney has had a rollercoaster of a year regarding its stocks, especially as it is still recovering from the negative effects that COVID-19 had on the stock market back in 2020, especially with the closure of its theme parks. In March 2020, Disney’s share price reached $85.98, a 5-year low. Disney had slowly recovered, with the rise of Disney+ subscriptions and people being more interested in Disney merchandise, especially as they were stuck at home.
Disney’s stock seemed to improve once Disney’s then-CEO Bob Chapek was fired and Bob Iger was brought back as CEO. In fact, shares rose nearly ten percent. However, these numbers also trended downward amid the release of the long-anticipated Avatar sequel Avatar: The Way of Water. Around this time, on December 19, Disney’s share price was about $87, a low number for the massive media company.
This marks the first fiscal quarter webcast since Bob Iger was reinstated as CEO. Iger will likely have to answer to a lot of Chapek’s financial mistakes, as well as explain to stakeholders and consumers how numbers can improve, giving them a glimpse of what he will focus on in the coming year.
We recently covered Disney’s priorities that Bob Iger should address in 2023, which include the major losses incurred by streaming and how to make it more profitable, either buying Comcast’s stake in Hulu or selling Disney’s stake in Hulu, keeping or spinning off ESPN, undoing some of the dramatic price hikes at the Parks, and finding the next Disney CEO.
This would be a great time for Iger to address these and other pertinent issues that Disney consumers deeply care about, putting their minds at ease. For those who wish to listen to the webcast, you can visit the Disney investor relations webpage, and Disney also notes that the webcast presentation will be archived afterward.
What do you think Disney’s financial results will look like this quarter? How could Disney improve these numbers?