Subtext

The Walt Disney Company DIS

SectorCommunication Services
Transcripts76
Date range2006-02-09 – 2025-05-07
Calls charted70

Sentiment timeline

Net Loughran-McDonald sentiment per call (×1000), earliest → latest.

-21-10+0+10+212007 Q32009 Q42012 Q32014 Q42017 Q12019 Q22021 Q32023 Q42007 Q3 · Overall: +15.02007 Q4 · Overall: +11.22008 Q1 · Overall: +11.22008 Q2 · Overall: +15.22008 Q3 · Overall: +6.42008 Q4 · Overall: +7.02009 Q1 · Overall: +2.62009 Q2 · Overall: +3.52009 Q3 · Overall: +5.52009 Q4 · Overall: +10.92010 Q1 · Overall: +6.52010 Q2 · Overall: +8.62011 Q1 · Overall: +11.72011 Q2 · Overall: +7.52011 Q3 · Overall: +7.22011 Q4 · Overall: +8.42012 Q1 · Overall: +8.22012 Q2 · Overall: +14.52012 Q3 · Overall: +12.12012 Q4 · Overall: +12.52013 Q2 · Overall: +8.82013 Q3 · Overall: +3.42013 Q4 · Overall: +8.32014 Q1 · Overall: +15.72014 Q2 · Overall: +6.72014 Q3 · Overall: +11.32014 Q4 · Overall: +8.72015 Q1 · Overall: +9.52015 Q2 · Overall: +13.52015 Q3 · Overall: +10.42015 Q4 · Overall: +9.82016 Q1 · Overall: +13.22016 Q2 · Overall: +8.12016 Q3 · Overall: +10.32016 Q4 · Overall: +7.32017 Q1 · Overall: +7.12017 Q2 · Overall: +12.52017 Q3 · Overall: +10.62017 Q4 · Overall: +5.52018 Q1 · Overall: +6.12018 Q2 · Overall: +11.82018 Q3 · Overall: +3.62018 Q4 · Overall: +9.82019 Q1 · Overall: +5.52019 Q2 · Overall: +7.52019 Q3 · Overall: +4.42019 Q4 · Overall: +6.72020 Q1 · Overall: +5.02020 Q2 · Overall: -6.62020 Q3 · Overall: +4.82020 Q4 · Overall: +3.62021 Q1 · Overall: +4.52021 Q2 · Overall: +11.62021 Q3 · Overall: +10.42021 Q4 · Overall: +11.52022 Q1 · Overall: +7.42022 Q2 · Overall: +10.02022 Q3 · Overall: +11.82022 Q4 · Overall: +10.12023 Q1 · Overall: +13.52023 Q2 · Overall: +7.92023 Q3 · Overall: +11.02023 Q4 · Overall: +17.82024 Q1 · Overall: +16.12024 Q2 · Overall: +8.12024 Q3 · Overall: +8.02024 Q4 · Overall: +9.82025 Q1 · Overall: +15.82025 Q2 · Overall: +8.2
Overall

CEO vs CFO

Average sentiment of each executive's remarks per call. Divergence is a signal.

-36-18+0+18+362007 Q32009 Q42012 Q32014 Q42017 Q12019 Q22021 Q32023 Q42007 Q3 · CEO: +21.02007 Q4 · CEO: +16.82008 Q1 · CEO: +16.32008 Q2 · CEO: +22.12008 Q3 · CEO: +10.22008 Q4 · CEO: +15.42009 Q1 · CEO: +7.22009 Q2 · CEO: +14.02009 Q3 · CEO: +16.12009 Q4 · CEO: +20.02010 Q1 · CEO: +16.22010 Q2 · CEO: +20.42011 Q1 · CEO: +20.52011 Q2 · CEO: +19.82011 Q3 · CEO: +19.62011 Q4 · CEO: +19.42012 Q1 · CEO: +20.32012 Q2 · CEO: +28.02012 Q3 · CEO: +27.52012 Q4 · CEO: +22.52013 Q2 · CEO: +20.92013 Q3 · CEO: +15.82013 Q4 · CEO: +22.72014 Q1 · CEO: +25.22014 Q2 · CEO: +19.72014 Q3 · CEO: +18.82014 Q4 · CEO: +16.62015 Q1 · CEO: +26.92015 Q2 · CEO: +14.22015 Q3 · CEO: +15.72015 Q4 · CEO: +18.22016 Q1 · CEO: +16.42016 Q2 · CEO: +14.62016 Q3 · CEO: +23.02016 Q4 · CEO: +22.72017 Q1 · CEO: +16.12017 Q2 · CEO: +21.02017 Q3 · CEO: +19.92017 Q4 · CEO: +20.02018 Q1 · CEO: +16.22018 Q2 · CEO: +25.62018 Q3 · CEO: +16.22018 Q4 · CEO: +17.62019 Q1 · CEO: +16.62019 Q2 · CEO: +16.22019 Q3 · CEO: +12.92019 Q4 · CEO: +17.52020 Q1 · CEO: +11.22020 Q2 · CEO: +5.92020 Q3 · CEO: +21.82020 Q4 · CEO: +16.82021 Q1 · CEO: +13.42021 Q2 · CEO: +25.92021 Q3 · CEO: +21.02021 Q4 · CEO: +20.52022 Q1 · CEO: +13.12022 Q2 · CEO: +24.02022 Q3 · CEO: +24.82022 Q4 · CEO: +28.62023 Q1 · CEO: +19.22023 Q2 · CEO: +15.32023 Q3 · CEO: +25.12023 Q4 · CEO: +31.32024 Q1 · CEO: +20.22024 Q3 · CEO: +19.92024 Q4 · CEO: +20.02025 Q1 · CEO: +27.12025 Q2 · CEO: +17.42007 Q3 · CFO: +16.42007 Q4 · CFO: +17.52008 Q1 · CFO: +22.62008 Q2 · CFO: +20.32008 Q3 · CFO: +17.22008 Q4 · CFO: +9.32009 Q1 · CFO: +2.02009 Q2 · CFO: +2.22009 Q3 · CFO: +3.02009 Q4 · CFO: +10.82010 Q1 · CFO: +0.42010 Q2 · CFO: +4.72011 Q1 · CFO: +16.02011 Q2 · CFO: -0.82011 Q3 · CFO: +2.72011 Q4 · CFO: +2.92012 Q1 · CFO: +2.82012 Q2 · CFO: +3.62012 Q3 · CFO: +7.02012 Q4 · CFO: +14.42013 Q2 · CFO: +5.22013 Q3 · CFO: -4.62013 Q4 · CFO: +6.62014 Q1 · CFO: +10.82014 Q2 · CFO: +4.82014 Q3 · CFO: +8.12014 Q4 · CFO: +0.62015 Q1 · CFO: +4.32015 Q2 · CFO: +9.92015 Q3 · CFO: +7.92016 Q1 · CFO: +12.62016 Q4 · CFO: -0.82017 Q1 · CFO: +5.52017 Q2 · CFO: +12.32017 Q3 · CFO: +4.42017 Q4 · CFO: -2.92018 Q1 · CFO: +3.92018 Q2 · CFO: +1.22018 Q3 · CFO: -2.32018 Q4 · CFO: -2.22019 Q1 · CFO: -1.72019 Q2 · CFO: +2.12019 Q3 · CFO: -1.42019 Q4 · CFO: +0.52020 Q1 · CFO: -2.02020 Q2 · CFO: -11.82020 Q3 · CFO: -1.72020 Q4 · CFO: -2.62021 Q1 · CFO: +4.12021 Q2 · CFO: +4.32021 Q3 · CFO: +8.02022 Q1 · CFO: +7.12022 Q2 · CFO: +2.42022 Q3 · CFO: +9.12022 Q4 · CFO: +3.02023 Q1 · CFO: +11.72023 Q2 · CFO: +5.22023 Q3 · CFO: +5.12023 Q4 · CFO: +10.72024 Q1 · CFO: +21.62024 Q3 · CFO: +17.12024 Q4 · CFO: +14.42025 Q1 · CFO: +17.22025 Q2 · CFO: -2.2
CEOCFO

Prepared remarks vs Q&A

Scripted tone vs unscripted answers. The gap is information.

-39-20+0+20+392007 Q32009 Q42012 Q32014 Q42017 Q12019 Q22021 Q32023 Q42007 Q3 · Prepared remarks: +28.02007 Q4 · Prepared remarks: +26.52008 Q1 · Prepared remarks: +27.12008 Q2 · Prepared remarks: +28.32008 Q3 · Prepared remarks: +32.72008 Q4 · Prepared remarks: +15.62009 Q1 · Prepared remarks: +7.42009 Q2 · Prepared remarks: +8.22009 Q3 · Prepared remarks: +19.02009 Q4 · Prepared remarks: +22.02010 Q1 · Prepared remarks: +22.32010 Q2 · Prepared remarks: +33.62011 Q1 · Prepared remarks: +34.32011 Q2 · Prepared remarks: +14.82011 Q3 · Prepared remarks: +19.22011 Q4 · Prepared remarks: +17.62012 Q1 · Prepared remarks: +21.52012 Q2 · Prepared remarks: +22.92012 Q3 · Prepared remarks: +21.02012 Q4 · Prepared remarks: +27.52013 Q2 · Prepared remarks: +16.92013 Q3 · Prepared remarks: +12.62013 Q4 · Prepared remarks: +18.32014 Q1 · Prepared remarks: +25.12014 Q2 · Prepared remarks: +25.02014 Q3 · Prepared remarks: +21.62014 Q4 · Prepared remarks: +21.22015 Q1 · Prepared remarks: +24.72015 Q2 · Prepared remarks: +23.62015 Q3 · Prepared remarks: +21.32015 Q4 · Prepared remarks: +24.72016 Q1 · Prepared remarks: +22.92016 Q2 · Prepared remarks: +21.02016 Q3 · Prepared remarks: +23.72016 Q4 · Prepared remarks: +10.82017 Q1 · Prepared remarks: +21.12017 Q2 · Prepared remarks: +17.62017 Q3 · Prepared remarks: +14.72017 Q4 · Prepared remarks: +8.52018 Q1 · Prepared remarks: +15.72018 Q2 · Prepared remarks: +12.92018 Q3 · Prepared remarks: +15.82018 Q4 · Prepared remarks: +8.52019 Q1 · Prepared remarks: +10.12019 Q2 · Prepared remarks: +12.22019 Q3 · Prepared remarks: +9.02019 Q4 · Prepared remarks: +12.02020 Q1 · Prepared remarks: +7.82020 Q2 · Prepared remarks: -1.12020 Q3 · Prepared remarks: +11.22020 Q4 · Prepared remarks: +6.02021 Q1 · Prepared remarks: +12.62021 Q2 · Prepared remarks: +19.72021 Q3 · Prepared remarks: +14.32021 Q4 · Prepared remarks: +18.12022 Q1 · Prepared remarks: +15.72022 Q2 · Prepared remarks: +15.62022 Q3 · Prepared remarks: +22.42022 Q4 · Prepared remarks: +17.72023 Q1 · Prepared remarks: +20.42023 Q2 · Prepared remarks: +18.62023 Q3 · Prepared remarks: +20.72023 Q4 · Prepared remarks: +24.92024 Q1 · Prepared remarks: +25.62024 Q2 · Prepared remarks: +32.22024 Q3 · Prepared remarks: -6.52024 Q4 · Prepared remarks: +18.42025 Q1 · Prepared remarks: +20.72025 Q2 · Prepared remarks: +27.62007 Q3 · Q&A responses: +12.02007 Q4 · Q&A responses: +6.92008 Q1 · Q&A responses: +9.02008 Q2 · Q&A responses: +13.12008 Q3 · Q&A responses: +4.72008 Q4 · Q&A responses: +7.42009 Q1 · Q&A responses: +3.22009 Q2 · Q&A responses: +6.52009 Q3 · Q&A responses: +6.12009 Q4 · Q&A responses: +12.62010 Q1 · Q&A responses: +4.82010 Q2 · Q&A responses: +6.82011 Q1 · Q&A responses: +11.02011 Q2 · Q&A responses: +9.52011 Q3 · Q&A responses: +4.72011 Q4 · Q&A responses: +7.72012 Q1 · Q&A responses: +5.62012 Q2 · Q&A responses: +14.32012 Q3 · Q&A responses: +9.82012 Q4 · Q&A responses: +8.92013 Q2 · Q&A responses: +8.52013 Q3 · Q&A responses: +5.52013 Q4 · Q&A responses: +8.32014 Q1 · Q&A responses: +17.02014 Q2 · Q&A responses: +5.72014 Q3 · Q&A responses: +8.52014 Q4 · Q&A responses: +7.02015 Q1 · Q&A responses: +4.02015 Q2 · Q&A responses: +13.72015 Q3 · Q&A responses: +10.12015 Q4 · Q&A responses: +8.72016 Q1 · Q&A responses: +6.92016 Q2 · Q&A responses: +4.72016 Q3 · Q&A responses: +12.32016 Q4 · Q&A responses: +10.32017 Q1 · Q&A responses: +3.52017 Q2 · Q&A responses: +15.82017 Q3 · Q&A responses: +13.72017 Q4 · Q&A responses: +9.62018 Q1 · Q&A responses: +5.12018 Q2 · Q&A responses: +16.72018 Q3 · Q&A responses: +1.52018 Q4 · Q&A responses: +13.52019 Q1 · Q&A responses: +7.52019 Q2 · Q&A responses: +9.02019 Q3 · Q&A responses: +7.22019 Q4 · Q&A responses: +8.42020 Q1 · Q&A responses: +6.92020 Q2 · Q&A responses: -8.62020 Q3 · Q&A responses: +3.92020 Q4 · Q&A responses: +7.32021 Q1 · Q&A responses: +0.32021 Q2 · Q&A responses: +9.12021 Q3 · Q&A responses: +10.12021 Q4 · Q&A responses: +6.22022 Q1 · Q&A responses: +3.42022 Q2 · Q&A responses: +7.82022 Q3 · Q&A responses: +7.22022 Q4 · Q&A responses: +8.82023 Q1 · Q&A responses: +9.42023 Q2 · Q&A responses: +3.32023 Q3 · Q&A responses: +8.02023 Q4 · Q&A responses: +14.72024 Q1 · Q&A responses: +12.22024 Q2 · Q&A responses: +12.42024 Q3 · Q&A responses: +14.42024 Q4 · Q&A responses: +12.32025 Q1 · Q&A responses: +21.32025 Q2 · Q&A responses: +3.8
Prepared remarksQ&A responses

Tone vs forward expectations

Management tone next to Wall Street's forward-looking numbers (glopardo): the 12-month forward EPS estimate and the forward P/E per call.

Forward EPS estimate

$1.98$4.96$7.952007 Q32009 Q42012 Q32014 Q42017 Q12019 Q22021 Q32023 Q42014 Q1: $4.312014 Q2: $4.512014 Q3: $4.712014 Q4: $4.852015 Q1: $5.212015 Q2: $5.532015 Q3: $5.602015 Q4: $5.802016 Q1: $6.032016 Q2: $6.092016 Q3: $6.072016 Q4: $6.102017 Q1: $6.332017 Q2: $6.552017 Q3: $6.482017 Q4: $6.302018 Q1: $7.212018 Q2: $7.542018 Q3: $7.392018 Q4: $7.192019 Q1: $7.162019 Q2: $6.512019 Q3: $5.842019 Q4: $5.662020 Q1: $5.332020 Q2: $2.772020 Q3: $2.652020 Q4: $2.392021 Q1: $3.482021 Q2: $4.382021 Q3: $5.082021 Q4: $4.472022 Q1: $5.042022 Q2: $5.222022 Q3: $5.422022 Q4: $4.422023 Q1: $4.832023 Q2: $4.992023 Q3: $4.912023 Q4: $4.622024 Q1: $5.042024 Q2: $5.302024 Q3: $5.182024 Q4: $5.60

Forward P/E

9.4443.3177.182007 Q32009 Q42012 Q32014 Q42017 Q12019 Q22021 Q32023 Q42014 Q1: 18.682014 Q2: 18.532014 Q3: 19.182014 Q4: 18.852015 Q1: 20.722015 Q2: 20.152015 Q3: 18.562015 Q4: 19.612016 Q1: 16.332016 Q2: 16.122016 Q3: 15.202016 Q4: 17.052017 Q1: 17.662017 Q2: 16.212017 Q3: 15.252017 Q4: 17.092018 Q1: 14.402018 Q2: 14.112018 Q3: 14.862018 Q4: 15.202019 Q1: 15.932019 Q2: 21.642019 Q3: 23.422019 Q4: 25.832020 Q1: 16.642020 Q2: 42.432020 Q3: 49.852020 Q4: 72.512021 Q1: 56.102021 Q2: 39.882021 Q3: 36.302021 Q4: 33.652022 Q1: 27.382022 Q2: 18.382022 Q3: 20.762022 Q4: 21.282023 Q1: 19.282023 Q2: 18.552023 Q3: 17.002023 Q4: 20.082024 Q1: 22.322024 Q2: 19.152024 Q3: 18.072024 Q4: 19.89

Divergence watch ⚑

Quarters where tone and the forward EPS estimate moved opposite ways.

  • 2014 Q2 tone ↓ -9.1 fwd EPS ↑ +0.20 Tone cooled even as the forward EPS estimate rose.
  • 2014 Q4 tone ↓ -2.6 fwd EPS ↑ +0.14 Tone cooled even as the forward EPS estimate rose.
  • 2015 Q3 tone ↓ -3.1 fwd EPS ↑ +0.07 Tone cooled even as the forward EPS estimate rose.
  • 2016 Q2 tone ↓ -5.1 fwd EPS ↑ +0.06 Tone cooled even as the forward EPS estimate rose.
  • 2018 Q4 tone ↑ +6.3 fwd EPS ↓ -0.20 Tone rose while the forward EPS estimate was cut.
  • 2019 Q4 tone ↑ +2.3 fwd EPS ↓ -0.18 Tone rose while the forward EPS estimate was cut.
  • 2020 Q3 tone ↑ +11.4 fwd EPS ↓ -0.12 Tone rose while the forward EPS estimate was cut.
  • 2022 Q1 tone ↓ -4.0 fwd EPS ↑ +0.58 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q2 tone ↓ -5.6 fwd EPS ↑ +0.16 Tone cooled even as the forward EPS estimate rose.
  • 2023 Q3 tone ↑ +3.1 fwd EPS ↓ -0.08 Tone rose while the forward EPS estimate was cut.
  • 2023 Q4 tone ↑ +6.9 fwd EPS ↓ -0.29 Tone rose while the forward EPS estimate was cut.
  • 2024 Q2 tone ↓ -7.9 fwd EPS ↑ +0.26 Tone cooled even as the forward EPS estimate rose.

Recent transcripts

CallDateSentiment ×1000Fwd EPSFwd P/E
2025 Q22025-05-07+8.2——View →
2025 Q12025-02-05+15.8——View →
2024 Q42024-11-14+9.8$5.6019.9View →
2024 Q32024-08-07+8.0$5.1818.1View →
2024 Q22024-05-07+8.1$5.3019.1View →
2024 Q12024-02-07+16.1$5.0422.3View →
2023 Q42023-11-08+17.8$4.6220.1View →
2023 Q32023-08-09+11.0$4.9117.0View →