Disney (DIS) reported another strong quarter. EPS of 58 cents exceeded the 55 cent consensus estimate with revenues in line with expectations at $9.05 billion. The upside came from margins with Broadcasting being unusually strong with operating income up 127%. Cable Networks also had higher margins than analysts were expecting. The only shortfall was operating […]
Disney (DIS) faces a tough comparison when it reports its 3Q07. Projected EPS of 55 cents are up just 4% vs. a year ago. Analysts have long expected this to be the toughest comparison so it should not come as a surprise. Given ongoing concerns that DIS’ best financial performance is behind it, the report […]
Several stocks in the Northlake portfolio have had newsworthy items over the past week. Here is a recap of the latest news, all of which I think is positive. Disney (DIS) completed the sale of almost all of its radio operations to Citadel Broadcasting (CDL). DIS shareholders received .0768 shares of CDL for each share […]
While Disney (DIS) shareholders digest the box office and stock market reaction to Pirates of the Caribbean: At World’s End, the company announced details of the divestiture of most its radio business. According to press release issued Friday, on June 12th, DIS shareholders will receive .0766 shares of Citadel Broadcasting (CDL) for each share of […]
Disney (DIS) reported very good 2Q07 results driven by strong margin performance across all five operating segments. Better profitability allowed EPS to easily exceed consensus estimates coming in at 44 cents, up 19%, vs. expectations of 38 cents, up 3%. Revenues fell very slightly short of estimates at $8.07 billion, $60 million short of estimates. […]
Margin expansion should propel Disney (DIS) to another quarter of greater than 10% growth in operating income when it reports 2Q07 results after the close on Tuesday. Revenue and EPS growth are only projected to grow in the low single digits due to tough comparisons. DIS has produced significant positive surprises in each of the […]
As mentioned in my overview of the 2007 Prudential Midwest Media Day, I came away from my meeting with Disney (DIS) with increased confidence in the outlook for March quarter earnings. The March quarter represents 2Q07 for DIS and will be reported after the close on May 8th with a conference beginning at 4:30 EDT. […]
Disney (DIS) reported much better than expected 1Q07 earnings with EPS coming in at 50 cents against a consensus estimate of 39 cents. Revenues were also better than expected at $9.7 billion vs. an estimate of $9.5 billion. I don’t see any unusual items that would impact the 50 cent figure so this looks like […]
Just before Thanksgiving, Disney (DIS) and Citadel Broadcasting (CDL) announced a restructuring of CDL’s deal to buy DIS’ radio assets. The total value of the deal has been reduced by $100 million and an additional $200 million of cash due to DIS will now come in the form of CDL shares. Essentially, DIS is trading […]
4Q06 earnings from Disney (DIS) left open the debate over whether the company ‘s four year string of double digit operating income growth is about to come to and end. With DIS shares are a premium to other diversified media conglomerates, a premium earned by the company’s outstanding performance the last few years, the FY07 […]
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