Warner Bros. Discovery, Inc. - Series A · NASDAQ:WBD
Warner Bros. Discovery, Inc. - Series A — Warner Bros. Discovery — Q3 2022 Earnings Presentation
15 slides from Warner Bros. Discovery, Inc. - Series A's earnings presentation, Nov 3, 2022
Slide 1: 3rd Quarter 2022 Earnings Release Presentation
3rd Quarter 2022 Earnings Release Presentation November 3, 2022
Slide 2: Important Information
Important Information Cautionary Statement Concerning Forward-Looking Statements Information set forth in this communication contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking sta
Slide 3: Raising Total Synergy Target to $3.5B+
Raising Total Synergy Target to $3.5B+ Projected Synergy Realization Timeline (In Millions, figures approximate) $3,500+ Driving workstreams deeper throughout the organization: $2,750 * Marketing optimization * Content workflows * Technology * Procurement $750 * Organizational structures 2022 2023 2
Slide 4: Pro Forma Revenue and Pro Forma Adj. EBITDA
PRO FORMA REVENUE(1) (5)% 3Q21 3Q22 Advertising Distribution Content Other PRO FORMA ADJ. EBITDA(2) +43% 3Q21 3Q22 4
Slide 5: Pro Forma Revenue and Pro Forma Adj. EBITDA
PRO FORMA REVENUE 3Q21 3Q22 Advertising Distribution Content Other PRO FORMA ADJ. EBITDA 3Q21 3Q22 5
Slide 6: Pro Forma Revenue and DTC subscribers
PRO FORMA REVENUE Total DTC subscribers(7): 94.9M (+2.8M net adds vs. Q2 2022) Revenues Amazon wholesale deal expiration in September 2021 HBO Max and discovery+ retail subscriber growth 3Q21 3Q22 DTC Advertising up more than 100% Advertising Distribution Content Other PRO FORMA ADJ. EBITDA 3Q21 3Q2
Slide 7: Sequential Improvement in Y/Y Adjusted EBITDA Trends
Sequential Improvement in Y/Y Adjusted EBITDA Trends 3rd Quarter 2022 Financial Results (In Millions) PRO FORMA REVENUE PRO FORMA ADJUSTED EBITDA REPORTED FCF‘) Felis | a $10,980 Rk cease BN \ Elims ' $2,424 ' $9,823 | $(192) 3Q21 3Q22 3Q21 3Q22 3Q21 3Q22 FCF Primarily Driven by Merger and Integrati
Slide 8: Gross Debt
9% 25% 43% $50.4 Gross Debt(9) 11% 91% 21% • • • • 8
Slide 9: 2023 Tailwinds and 2023 Uncertainties
2022 2023 Tailwinds 2023 Uncertainties 2023 9
Slide 10: 3rd Quarter 2022 Earnings Release Presentation
3rd Quarter 2022 Earnings Release Presentation November 3, 2022
Slide 11: Appendix
Appendix WARNER BROS. DISCOVERY
Slide 12: Notes
Notes Numbers presented in the following materials are on a rounded basis using actual amounts. Minor differences in totals and percentages may exist due to rounding. (1) Pro Forma Combined Financial Information: The unaudited pro forma combined financial information in this presentation presents th
Slide 13: Notes — cont.
Notes — cont. (3) Foreign Exchange Impacting Comparability: In addition to the Merger with the WarnerMedia business, the impact of exchange rates on our business is an important factor in understanding period-to-period comparisons of our results. For example, our international revenues are favorably
Slide 14: Notes — cont.
Notes — cont. (7) Direct-to-Consumer (“DTC”) Subscriber: The Company defines a “Direct-to-Consumer ("DTC") Subscription” as: (i) a subscription to discovery+, HBO or HBO Max for which we have recognized subscription revenue, whether directly or through a third party, from a direct-to-consumer platfo
Slide 15: 3rd Quarter 2022 Earnings Release Presentation
3rd Quarter 2022 Earnings Release Presentation November 3, 2022
Warner Bros. Discovery — Q3 2022 Earnings Presentation on 6ix