The Walt Disney Company (NYSE:DIS) Q4 2023 Earnings Call Transcript November 8, 2023 4:30 PM ET

Company Participants

Alexia Quadrani - SVP, IR

Robert Iger - CEO

Kevin Lansberry - Interim CFO

Conference Call Participants

Michael Nathanson - MoffettNathanson

Steven Cahall - Wells Fargo

Benjamin Swinburne - Morgan Stanley

Jessica Reif Ehrlich - BofA Securities

John Hodulik - UBS

Philip Cusick - JPMorgan

Operator

Good afternoon, and welcome to The Walt Disney Company Fiscal Full Year and Q4 2023 Financial Results Conference Call. All participants will be in listen-only mode. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. [Operator Instructions] Please note this event is being recorded.

I would now like to turn the conference over to Alexia Quadrani, Executive Vice President, Investor Relations. Please go ahead.

Alexia Quadrani

Good afternoon. It's my pleasure to welcome everybody to The Walt Disney Company's fourth quarter 2023 earnings call. Our press release was issued about 25 minutes ago and is available on our website at www.disney.com/investors. Today's call is being webcast and a replay and transcript, as well as the fourth quarter earnings presentation will all be made available on our website after the call.

Joining me for today's call are Bob Iger, Disney's Chief Executive Officer; and Kevin Lansberry, Interim Chief Financial Officer. Following comments from Bob and Kevin, we will be happy to take some of your questions.

So with that, let me turn the call over to Bob to get started.

Robert Iger

Thanks, Alexia, and good afternoon, everyone. Before we begin, this week we announced that Hugh Johnston will be joining the Walt Disney Company as Senior Executive Vice President and Chief Financial Officer after 34 years with PepsiCo. It's great to have Hugh joining Disney at this important moment for our company. I'd also like to thank Kevin Lansberry, who stepped into the CFO role on an interim basis earlier this year and has provided strong leadership in the month since. Kevin is returning to his role as CFO of our Disney Experiences segment and you'll hear more from him in just a bit.

Now let's turn to the quarter. Our results this quarter speak volumes about the underlying strength of our company and the remarkable amount of work we have accomplished this past year. Q4 adjusted earnings per share nearly tripled over the prior year. And all three of our businesses, Entertainment, Experiences, and Sports saw significant increases in fourth quarter operating income compared to Q4 of fiscal 2022.