Walt Disney Company (the) · NYSE:DIS
Walt Disney Company (the) — Q3 2023 Earnings Presentation
19 slides from Walt Disney Company (the)'s earnings presentation, Aug 9, 2023
Slide 1: Q3'23 Earnings Presentation
The ar Dionep Company Q3'23 EARNINGS PRESENTATION... \! « , A | Avatars, 2023" > , — ee ‘
Slide 2: Forward-Looking Statements
Forward-Looking Statements Certain statements and information in this presentation may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, including statements regarding earnings expectations and expected drivers; future cost reductions
Slide 3: Drivers of Growth and Value Creation
Drivers of Growth and Value Creation oY Parks and Experiences Streaming * Strengthening focus on creative * Power of our diverse portfolio of * Focused on sustained profitability output experiences that span the globe * Cost efficiency in number of titles and * Rationalizing the volume of content we
Slide 4: Business Results
BUSINESS RESULTS
Slide 5: Q3 Results for Fiscal 2023
Q3 Results for Fiscal 2023 (In Billions, Except Per Share Amounts) pms $22.3 $3.6 $3.6 $1.09 care $2.1 $0.77 Q3'22 Q3'23 Q3'22 03'23 Q3'22 03'23 Q3'22 03'22 Q3'23 ($0.1) ($0.25) Revenues Income (Loss) from Total Segment Diluted EPS from Diluted EPS Continuing Operations Operating Income") continuing
Slide 6: Recent Business Highlights
Recent Business Highlights Avatar: The Way of Water, which is now the third highest-grossing film of all time, is also on track to be the biggest ever electronic home video release for f —— J = Disney domestically. Improved our DTC operating income by roughly $1 billion in just three quarters he Ann
Slide 7: Q3 Media & Entertainment Distribution Results
Q3 Media & Entertainment Distribution Results {In Billions) Revenues Linear Networks * At Linear Networks, operating income declined vs. the prior year by $580 million, $7.2 $6.7 driven by declines at both domestic and international channels. Domestic results Linear Networks . $5.5. decreased at bot
Slide 8: DTC Quarterly Operating Income (Loss)
DTC Quarterly Operating Income (Loss) (In Billions) Q3'22 Q4'22 Q1'23 Q2'23 Q3'23 * Q3 DTC operating losses improved sequentially by ~$§150 million vs. the prior quarter ($1.5) driven by cost reductions. DTC Ol (Loss) ($0.5) ($1.1) DTC Revenues and Expenses Breakdown $6.1 pee eo $6.2 $6.0 Q3'22 Q4'2
Slide 9: Q3 Disney+ Core Subscribers & ARPU
Q3 Disney+ Core Subscribers & ARPU (Paid Subscribers in Millions and Average Monthly Revenue per Paid Subscriber (ARPU) in USD) ~\ Q3’23 vs. “Pyenept+ Domestic! Subscribers TEA Grae Disney+ Domestic 46.0 +15 (0.3) * Domestic subscribers decreased by 0.3 million vs. the prior quarter. 44.5 46.3 * Dom
Slide 10: Q3 Hulu and ESPN+ Subscribers & ARPU
Q3 Hulu and ESPN+ Subscribers & ARPU (Paid Subscribers in Millions and Average Monthly Revenue per Paid Subscriber (ARPU) in USD) h ] . Q3’23 vs. UIU subscribers 7 Grin Total Hulu?) 46.2 48.2 48.3 42.0 +0.1 LiveTV + SVOD 40.3 (0.1) +18 +0.3 SVOD Only 03'22 Q2'23 Q3'23 SVODOnlyARPU $12.92 $11.73 $12.
Slide 11: Q3 Parks, Experiences & Products Results
Q3 Parks, Experiences & Products Results (In Billions) Revenues Domestic Parks & Experiences $5.4 $5.6 40.9 / +13% * Operating income decreased 13% versus the prior year due to lower results at our domestic parks and Disney Vacation Club, partially offset by an increase at Disney Cruise Line. Domest
Slide 12: Appendix
APPENDIX ©Disney Third Fiscal Quarter Ended Jul 11
Slide 13: Upcoming Theatrical Releases
Upcoming Theatrical Releases (Reflects publicly announced planned releases as of August 9, 2023; subject to change) SS SB September 15, 2023 A Haunting in Venice 20" Century September 29, 2023 The Creator 20" Century November 10, 2023 The Marvels Marvel November 17, 2023 Next Goal Wins Searchlight N
Slide 14: Key Upcoming Disney+ and Hulu Releases
Key Upcoming Disney+ and Hulu Releases (Reflects publicly announced planned domestic releases as of August 9, 2023; list is not exhaustive; subject fo change) SS Ts cc August 9 High School Musical: The Musical: The Series (Season 4) Disney Branded Television Disney+ Scripted Series August 14 Solar O
Slide 15: Upcoming Parks and Experiences Openings & Events
Upcoming Parks and Experiences Openings & Events (Reflects publicly announced planned openings and events as of August 9, 2023; list is not exhaustive; subject to change) August 31, 2023 San Fransokyo Square at Disney California Adventure Park Disneyland Resort Fall 2023 Journey of Water, Inspired b
Slide 16: Non-GAAP Financial Measures
Non-GAAP Financial Measures This presentation includes diluted EPS excluding certain items and total segment operating income, both of which are important financial measures for the Company, but are not financial measures defined by GAAP. These measures should be reviewed in conjunction with the mos
Slide 17: Total Segment Operating Income
Total Segment Operating Income (In millions) The following are reconciliations of income from continuing operations before income taxes to total segment operating income (in millions): Quarter Ended July 1, 2023 July 2, 2022 Change ($134) $2,119 nm Income from continuing operations before income tax
Slide 18: Diluted EPS Excluding Certain Items
Diluted EPS Excluding Certain Items (In millions except EPS) The following table reconciles reported diluted EPS from continuing operations to diluted EPS excluding certain items: {in millions except EPS) Quarter Ended July 1, 2023 As reported Exclude: Restructuring and impairment charges” Amortizat
Slide 19: DTC Product Descriptions and Key Definitions
DTC Product Descriptions and Key Definitions Product offerings In the U.S., Disney+, ESPN+ and Hulu SVOD Only are each offered as a standalone service or together as part of various multi-product offerings. Hulu Live TV + SVOD includes Disney+ and ESPN+. Disney+ is available in more than 150 countri
Walt Disney Company (The) — Q3 2023 Earnings Presentation on 6ix