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Disney ( DIS ) sees high single digit EPS growth in FY2025

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Q4 adjusted EPS at $1.14 vs $1.10 LSEG estimate

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Disney ( DIS ) plans $3 billion share buyback

By Dawn Chmielewski and Lisa Richwine

LOS ANGELES, Nov 14 (Reuters) - Walt Disney ( DIS )

reported earnings that topped Wall Street's estimates on

Thursday, propelled by blockbuster ticket sales from the rude

and irreverent summer Marvel film "Deadpool & Wolverine," and

provided an upbeat forecast for the coming year.

The company projected adjusted earnings-per-share percentage

growth in the high single digits in fiscal 2025, even with

capital expenditures of roughly $8 billion. It also said it

expects to buy back $3 billion worth of stock.

The entertainment giant's recent success at movie theaters

helped offset a decline in operating income at the company's

Experiences and Sports divisions. Lower attendance at

international locations dragged on theme parks results, and

higher programming and production costs hurt ESPN ( DIS ).

Disney ( DIS ) reported adjusted per-share earnings of $1.14 for its

fiscal fourth quarter that ended in September. That compares

with consensus estimates of $1.10 per share, according to

analysts polled by LSEG.

Revenue reached $22.6 billion, slightly ahead of Wall Street

forecasts of $22.45 billion. Operating income rose 23% from a

year earlier to nearly $3.7 billion.

Chief Executive Bob Iger, who returned to the company from

retirement in November 2022, undertook aggressive cost-cutting

and worked to revitalize the company's film and TV units after a

period of misfires.

"Thanks to the significant progress we've made, we have

emerged from a period of considerable challenges and disruption

well positioned for growth and optimistic about our future,"

Iger said in a statement.

Operating income at the Entertainment unit, which includes

film, television and streaming, more than doubled to $1.1

billion in the quarter, reflecting the return of Hulu's

Emmy-nominated comedy "Only Murders in the Building" and summer

movies including "Deadpool & Wolverine," the first R-rated

Marvel film, and "Alien: Romulus." The "Deadpool" movie brought

in $1.3 billion at global box offices.

Disney's ( DIS ) flagship streaming video service, Disney+, boasted

more than 122.7 million subscribers outside of India, a gain of

4.4 million from the prior quarter. The company intensified

efforts to crack down on password sharing in September.

Disney+, Hulu and ESPN+ produced operating profit of $321

million for the quarter, marking the streaming services' second

straight quarter of profitability.

Disney's ( DIS ) Experiences segment that includes parks and

consumer products declined 6% to $1.66 billion.

The company reported a 32% drop in operating income at

international parks, reflecting the costs to build new

attractions and competition in Paris from the Olympics.

At the Sports unit, which includes the ESPN ( DIS ) network and Star

India business, operating income fell 5% to $929 million. ESPN ( DIS )

experienced higher programming and production costs for college

football broadcasts.

In addition to the fiscal 2025 projection, Disney ( DIS ) said it

expected double-digit adjusted EPS growth in fiscal years 2026

and 2027.

"If you add it all up, our strategies are working, working

very well, and we've got good visibility on where those

strategies are likely to lead us," Disney CFO Hugh Johnston said

in an interview.