DIS · Other

Walt Disney Co

Ranked earnings events from SEC filings, earnings calls, press releases and news. Full Picture: what to focus on this earnings window

News · 2026-08-08

• Capital Return ProgramImportance 64 · Surprise 42
  Disney raised its fiscal 2026 share-repurchase target to at least $9 billion. The increased repurchase plan was reiterated alongside the company’s fiscal 2026 earnings outlook. Proceeds from the approximately $1.2…
• AI Search And DiscoveryImportance 30 · Surprise 42
  Disney is beta testing AI-powered search and discovery features on ESPN and Disney+. ESPN Search allows users to ask sports questions in natural language using ESPN’s content library. Disney+ is testing recommendations…
• Advertising Demand TrendsImportance 20 · Surprise 24
  Disney sold out its advertising inventory for the following February’s Super Bowl and completed its 2026–27 upfront sales process. The sellout indicates strong demand for premium live-sports advertising inventory…

News · 2026-08-07

• Capital Return ProgramImportance 64 · Surprise 42
  Disney raised its fiscal 2026 share-repurchase target to at least $9 billion. The increased repurchase plan was reiterated alongside the company’s fiscal 2026 earnings outlook. Proceeds from the approximately $1.2…
• Segment ProfitabilityImportance 59 · Surprise 48
  Disney’s total segment operating income rose 21% year over year to approximately $5.6 billion in fiscal Q3 2026. Streaming profit more than doubled during the quarter, with reported subscription-video-on-demand margins…
• Theme Parks Demand TrendsImportance 54 · Surprise 40
  Disney’s Experiences segment posted nearly $10 billion in fiscal third-quarter revenue, up 10% year over year, a quarterly record. Attendance at U.S. parks increased 3%, supported by Walt Disney World, Disneyland,…
• Guidance / OutlookImportance 46 · Surprise 40
  Disney reaffirmed its fiscal 2026 outlook for double-digit adjusted earnings-per-share growth. Management also raised its planned fiscal-year share repurchases to at least $9 billion, supported in part by proceeds from…
• Revenue Performance and MixImportance 43 · Surprise 32
  Disney’s fiscal third-quarter revenue increased 7% year over year to approximately $25.2 billion for the quarter ended June 27, 2026. Experiences revenue reached nearly $10 billion, up 10% year over year and a…
• Consumer Products RestructuringImportance 31 · Surprise 42
  Disney plans to move most of its Consumer Products business from Disney Experiences to Disney Entertainment Studios beginning in October 2026. The reorganization is intended to align merchandise development more…
• Parks Capacity ExpansionImportance 30 · Surprise 42
  Disney is expanding capacity and attractions across its Experiences portfolio, including additional Disney Cruise Line ships planned through 2030. The Disney Destiny and Disney Adventure increased cruise stateroom…
• Tariff RefundImportance 24 · Surprise 42
  Disney recorded or secured a tariff refund of approximately $100 million during fiscal Q3 2026. The refund reduced the financial impact of tariffs during the quarter. The amount is below the stated $757 million…

News · 2026-08-06

• Capital Return ProgramImportance 64 · Surprise 42
  Disney raised its fiscal 2026 share-repurchase target to at least $9 billion. The increased repurchase plan was reiterated alongside the company’s fiscal 2026 earnings outlook. Proceeds from the approximately $1.2…
• Revenue Performance and MixImportance 43 · Surprise 32
  Disney’s fiscal third-quarter revenue increased 7% year over year to approximately $25.2 billion for the quarter ended June 27, 2026. Experiences revenue reached nearly $10 billion, up 10% year over year and a…
• AI Search And DiscoveryImportance 30 · Surprise 42
  Disney is beta testing AI-powered search and discovery features on ESPN and Disney+. ESPN Search allows users to ask sports questions in natural language using ESPN’s content library. Disney+ is testing recommendations…
• Advertising Demand TrendsImportance 20 · Surprise 24
  Disney sold out its advertising inventory for the following February’s Super Bowl and completed its 2026–27 upfront sales process. The sellout indicates strong demand for premium live-sports advertising inventory…

10-Q · 2026-08-05

• Capital Return ProgramImportance 93 · Surprise 82
  The Company repurchased $7.245 billion of common stock during the nine months ended June 27, 2026, compared with $2.496 billion in the prior-year period, an increase of approximately 190%. The Company is targeting at…
• Income Tax Rate ChangesImportance 84 · Surprise 100
  Disney’s quarterly effective income tax rate was 22.0% in 2026 compared with negative 85.1% in 2025, when a $3.3 billion non-cash tax benefit arose from Hulu’s U.S. income tax classification change. The nine-month…
• Capital Expenditures ProgramImportance 78 · Surprise 58
  The Company invested $6.780 billion in parks, resorts and other property during the nine months ended June 27, 2026, up from $6.108 billion in the prior-year period. Experiences accounted for $5.596 billion of…
• Manufacturing and CapacityImportance 78 · Surprise 58
  Disney’s Experiences segment continues investing in domestic and international theme park and resort expansion, new attractions, cruise ships, capital improvements and technology. Capital expenditures for Experiences…
• Segment ProfitabilityImportance 69 · Surprise 64
  Experiences operating income increased 20% to $3.017 billion in the quarter and 10% to $8.941 billion for the nine-month period, driven by higher Parks & Experiences revenue despite higher costs. Entertainment…
• Restructuring and Impairment ChargesImportance 65 · Surprise 82
  Disney recorded $900 million of restructuring and impairment charges in the quarter ended June 27, 2026, compared with $185 million in the prior-year quarter. The quarterly charges included an $812 million impairment…
• Sports Rights and SubscribersImportance 63 · Surprise 50
  Sports subscription and affiliate fees increased 4% for the nine-month period, as higher effective rates and the NFL Transaction were partly offset by 3% fewer subscribers and a temporary carriage suspension with an…
• Streaming Subscription GrowthImportance 62 · Surprise 58
  Entertainment subscription and affiliate fees increased 12% in the quarter and 11% for the nine-month period. Quarterly growth reflected a 4% contribution from the Fubo Transaction, 3% from higher effective rates, 3%…
• Experiences Demand and GrowthImportance 54 · Surprise 40
  Experiences revenue increased 10% in the quarter and 8% in the nine-month period, led by higher theme park admissions, resorts and vacations, merchandise, food and beverage, and licensing revenue. Theme park admissions…
• Experiences Geographic PerformanceImportance 54 · Surprise 40
  Domestic Parks & Experiences revenue increased 11% in the quarter and 8% in the nine-month period, while international revenue increased 6% and 7%, respectively. Domestic attendance benefited in the nine-month…
• Distribution and Carriage TrendsImportance 51 · Surprise 50
  The Fubo Transaction increased Entertainment subscription and affiliate fees and created additional intersegment network fees associated with Hulu Live TV and Fubo services. Entertainment TV/VOD and home entertainment…
• Revenue Performance and MixImportance 49 · Surprise 32
  Disney’s total revenue increased 7% year over year to $25.248 billion in the quarter ended June 27, 2026, and increased 6% to $76.397 billion for the nine-month period. Service revenue rose 7% to $22.675 billion in the…
• Operating Expense TrendsImportance 49 · Surprise 32
  Quarterly selling, general, administrative and other costs decreased 4% to $3.968 billion because of lower marketing costs, while nine-month costs increased 1% to $12.162 billion because higher marketing costs exceeded…
• Operating Cash Flow TrendsImportance 49 · Surprise 32
  Cash provided by operations decreased 8% to $12.515 billion in the nine months ended June 27, 2026, from $13.627 billion in the prior-year period. The decline was driven by higher income tax payments and lower Sports…
• Content Investment SpendingImportance 49 · Surprise 32
  Disney spent $18.152 billion on programming licenses, sports rights, and produced film and television content during the nine months ended June 27, 2026, up 3% from $17.608 billion in the prior-year period. Programming…
• Outstanding IndebtednessImportance 49 · Surprise 6
  At June 27, 2026, TWDC had $32.049 billion of par-value registered debt with unconditional guarantees and $32.772 billion of carrying-value debt. Legacy Disney had an additional $5.450 billion of par-value guaranteed…
• Cruise Fleet ExpansionImportance 44 · Surprise 58
  Disney Cruise Line expanded capacity through the launches of Disney Destiny in November 2025 and Disney Adventure in March 2026. Additional passenger cruise days contributed 10% of quarterly resorts and vacations…
• Liquidity and Debt PositionImportance 43 · Surprise 6
  As of June 27, 2026, the Company reported access to unused bank facilities of $12.25 billion, commercial paper capacity up to that amount, operating cash flows, cash balances and debt-market access to fund operations,…
• Theatrical Content PerformanceImportance 42 · Surprise 40
  Entertainment content sales increased 8% in the nine-month period, primarily because theatrical distribution revenue rose 11%. Current-period theatrical performance benefited from Zootopia 2, Avatar: Fire and Ash, The…
• Interest Rate EnvironmentImportance 41 · Surprise 48
  Disney’s net interest expense declined 22% to $813 million in the nine months ended June 27, 2026, primarily because of lower average interest rates. The benefit from lower rates was partially offset by higher average…
• Advertising Demand and PricingImportance 37 · Surprise 32
  Entertainment advertising revenue declined 1% in the quarter and 1% for the nine-month period despite higher impressions. Quarterly advertising performance reflected a 4% decrease from lower rates, partially offset by…
• Supply Chain Tariff ImpactImportance 25 · Surprise 42
  Disney stated that cost of goods sold and distribution costs in Experiences decreased during the quarter because of tariff refunds. The filing does not quantify the refunds or identify the affected countries, tariff…
• Inflationary Cost PressuresImportance 24 · Surprise 14
  Disney reported that inflation contributed to higher cost of services, which increased $0.6 billion, or 5%, to $13.7 billion in the quarter ended June 27, 2026. Inflation also increased Experiences operating labor,…
• FX / Currency HeadwindsImportance 18 · Surprise 14
  Favorable foreign exchange increased Entertainment subscription and affiliate fees by 1% in both the quarter and nine-month period ended June 27, 2026. Foreign exchange hedging affected Entertainment’s other revenue,…

8-K · 2026-08-05

• Capital Return and Divestiture ProceedsImportance 93 · Surprise 82
  Disney repurchased $7.245 billion of common stock during the first nine months of fiscal 2026, compared with $2.496 billion in the prior-year period. The company now targets at least $9 billion of fiscal 2026 share…
• Guidance / OutlookImportance 85 · Surprise 76
  Disney reiterated fiscal 2026 adjusted EPS growth guidance of approximately 12% excluding, and 16% including, the 53rd week. It expects fourth-quarter total segment operating income of approximately $4.9 billion, with…
• Streaming Revenue and MarginImportance 69 · Surprise 64
  Entertainment SVOD revenue increased 11% to $5.532 billion, including 15% growth in subscription fees to $4.715 billion and 3% growth in advertising revenue to $851 million. Subscription growth reflected 9% more…
• Cruise Capacity and BookingsImportance 60 · Surprise 74
  The Disney Destiny and Disney Adventure operated for their first full quarter, increasing stateroom capacity by approximately 50% versus the prior-year quarter. The ships launched in November 2025 and March 2026,…
• Segment ProfitabilityImportance 59 · Surprise 48
  Total segment operating income increased 21% to $5.555 billion from $4.575 billion in the third quarter. Entertainment operating income increased 64% to $1.680 billion, driven primarily by higher subscription and…
• A+E DivestitureImportance 59 · Surprise 60
  Disney agreed in July 2026 to sell its 50% interest in A+E Global Media to an affiliate of co-owner Hearst Corporation for approximately $1.2 billion in cash. Closing is expected by the end of fiscal 2026, subject to…
• Cash Flow and Capital ExpendituresImportance 59 · Surprise 48
  Nine-month cash provided by operations decreased 8% to $12.515 billion from $13.627 billion, primarily because of higher income tax payments and lower Sports operating cash flow from increased sports-content spending.…
• International Streaming ExpansionImportance 56 · Surprise 82
  Disney+ saw strong early performance from local programming, with Rivals season 2 becoming the biggest EMEA original premiere in the UK and Ireland. The Perfect Crown became Disney+’s most-watched Korean premiere…
• Sports Cost PressureImportance 54 · Surprise 40
  Sports programming and production costs increased 10% to $3.050 billion from $2.762 billion in the third quarter. The increase reflected contractual rate increases, costs for new sports rights, and timing changes from…
• Experiences Revenue GrowthImportance 54 · Surprise 40
  Experiences revenue increased 10% to $9.968 billion, with Parks & Experiences revenue rising 10% to $8.903 billion and Consumer Products revenue rising 7% to $1.065 billion. Domestic Parks & Experiences revenue…
• Entertainment SVOD ProfitabilityImportance 51 · Surprise 64
  Entertainment SVOD operating income increased 116% year over year to $712 million in the quarter ended June 27, 2026, compared with $329 million in the prior-year quarter. Entertainment segment operating income rose…
• Free Cash Flow and LiquidityImportance 50 · Surprise 46
  Quarterly cash provided by operations increased $1,197 million year over year to $4,866 million for the quarter ended June 27, 2026, while free cash flow increased $1,183 million to $3,072 million. Nine-month operating…
• Revenue Performance and MixImportance 49 · Surprise 32
  Third-quarter revenue increased 7% year over year to $25.248 billion from $23.650 billion, while nine-month revenue increased 6% to $76.397 billion. Experiences revenue grew 10% to $9.968 billion, Entertainment revenue…
• Liquidity and Debt PositionImportance 49 · Surprise 32
  Cash and cash equivalents declined to $5.185 billion at June 27, 2026 from $5.695 billion at September 27, 2025. Current borrowings increased to $8.627 billion from $6.711 billion, while long-term borrowings increased…
• Advertising Demand TrendsImportance 49 · Surprise 32
  Entertainment SVOD advertising revenue increased 3% year over year, but management said continued marketplace supply growth created a softer overall demand environment than in fiscal Q2. Domestic SVOD advertising…
• Sports Viewership and EngagementImportance 42 · Surprise 64
  Ratings for the NBA and NHL championship series more than doubled year over year, and the 2026 NBA and NHL playoffs became the most-viewed ever on Disney’s networks. Aggregate ESPN network sports consumption increased…
• Product Launch and TransitionImportance 31 · Surprise 42
  Toy Story 5 surpassed $1 billion in global box office, lifting Disney+ engagement to more than two billion hours streamed and contributing to the strongest year-over-year Consumer Products revenue growth in 20…
• Distribution Channels and PartnershipsImportance 31 · Surprise 42
  ESPN is expanding its sports distribution ecosystem through relationships with the NFL, MLB, FOX One, and the CW Network. More than 800 annual hours of CW Sports will stream live on the ESPN app for ESPN Unlimited…
• AI-Powered Guest ExperienceImportance 31 · Surprise 42
  Disney is using artificial intelligence and machine learning in creative, park-design, attraction-operations, and guest-service activities. Its J.A.R.V.I.S. AI tool was made available to more than 2,000 Imagineers,…
• Geographic Market CommentaryImportance 25 · Surprise 32
  Global guests across Experiences increased 4%, while domestic park attendance rose 3% year over year. Walt Disney World benefited from higher attendance among domestic tourists and annual passholders, supported by…
• Streaming Product and TechnologyImportance 17 · Surprise 24
  Disney is positioning Disney+ as the digital centerpiece of the company by improving search, discovery, engagement, and retention. The company reported a decline in Disney+ churn across domestic and international…