Equity Profile

DIS

The Walt Disney Company

Communication ServicesMovies & Entertainment$173.1B

Aug5Wed

Pre-Earnings Brief

UpcomingQ3-2026Pre-Market9:00 AM EDT

Company Snapshot

The Walt Disney Company (DIS) is a major player in the movies and entertainment sector, known for its iconic films, theme parks, and streaming services. As consumer spending shifts and competition in streaming intensifies, Disney's performance is closely watched by investors and analysts alike.

Key Metrics to Watch

EPS (Earnings Per Share)

EPS is a key indicator of profitability and will show how well Disney is managing costs and generating revenue.

N/A

Subscriber Growth for Disney+

With the streaming market evolving, subscriber numbers will indicate Disney's ability to compete against rivals like Netflix and Amazon.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

DIS Q3-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+11.79%

Avg Stock Reaction

-0.02%

Last Quarter Recap

In Q2 2026, Disney reported an EPS of $1.57, exceeding expectations by 5.72%. The stock reacted positively, gaining 7.54% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, expectations are mixed as Disney continues to navigate challenges in streaming and theme park operations. Investors are keen to see if the company can maintain its growth trajectory.

Bull Case

If Disney shows strong subscriber growth and improved profitability, it could signal a successful strategy in a competitive landscape, boosting investor confidence.

Bear Case

Conversely, if Disney reports disappointing subscriber numbers or weak performance in its parks, it may raise concerns about its ability to adapt to market changes.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current subscriber count for Disney+ and how does it compare to last quarter?

Subscriber growth is critical for Disney's streaming strategy and will indicate its competitive position in the market.

What are the attendance figures for Disney's theme parks this quarter?

Attendance levels directly impact revenue and profitability, especially as the company recovers from pandemic-related challenges.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for Disney's parks to rebound strongly, especially with pent-up demand for travel and entertainment.

Supporting Evidence

Recent trends show increased consumer spending on experiences, which could benefit Disney's parks.

Options pricing suggests a higher expected move than historical averages, indicating potential for a significant reaction.

Insider trading activity shows mixed signals, which may not reflect the overall optimism about recovery.

Key Risk

If subscriber growth exceeds expectations, it could shift the narrative significantly.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on Disney's ability to grow its streaming service and recover its theme park business.

Bull Confirmed If

A subscriber growth rate of over 10% quarter-over-quarter would confirm the bull case.

Bear Confirmed If

A decline in theme park attendance below 5% year-over-year would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±7.43%

Historical Avg

±6.2%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings report.

Options are pricing ±10.9% while DIS has averaged ±6.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

30.5%

Calls (933K)P/C Ratio: 0.80Puts (538K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Communication Services

n=30

Fade rate: 13 of 28 (46%)

This setup has occurred 30 times across Communication Services in the last 2 years. 13 of 28 faded and 15 held — no strong directional bias after the initial reaction. The average absolute 1-day move is 4.1%, with a raw directional average of +1.2% (modestly positive historical bias).

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Disney beats expectations, history suggests the stock could rise around 6% on the first day, confirming a positive outlook.

In-Line / Cautious

If results are in line but management offers cautious commentary, the stock may react moderately, reflecting uncertainty.

Miss

A miss could lead to a decline, with historical patterns suggesting a potential drop of around 6%.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

2 buys·2 sells

Members

House + Senate

Est. Notional

$1.0M–$5.0M

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
2

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on Disney+ subscriber growth and retention strategies.
2Details on theme park attendance and any new attractions or promotions.
3Insights into cost management and profitability across segments.
4Any commentary on competition in the streaming space and how Disney plans to respond.
5Future guidance on revenue expectations for the next quarter.

See the full picture

AI-powered briefs, options data, and 20 quarters of history — everything you need before earnings.

No charge today · Auto-bills $8/mo after 7 days · Cancel anytime

More Earnings This Week

5 Reports

Aug3

ONBMO

ON Semiconductor Corporation

PreviewView

Aug3

LBMO

Company Snapshot

Key Metrics to Watch

EPS (Earnings Per Share)

EPS is a key indicator of profitability and will show how well Disney is managing costs and generating revenue.

N/A

Subscriber Growth for Disney+

With the streaming market evolving, subscriber numbers will indicate Disney's ability to compete against rivals like Netflix and Amazon.

N/A

1 more metrics, Wall Street expectations, options signals, track record, and call prep available with Pro.

DIS Q3-2026 Earnings Preview

Context

Company Snapshot

Earnings Scorecard·Last 8Q

EPS Beat Streak

EPS Beat Rate

100%

Avg EPS Surprise

+11.79%

Avg Stock Reaction

-0.02%

Last Quarter Recap

In Q2 2026, Disney reported an EPS of $1.57, exceeding expectations by 5.72%. The stock reacted positively, gaining 7.54% the following day.

Management Promises & Guidance

Expectations

Wall Street Expectations

Overall, expectations are mixed as Disney continues to navigate challenges in streaming and theme park operations. Investors are keen to see if the company can maintain its growth trajectory.

Bull Case

If Disney shows strong subscriber growth and improved profitability, it could signal a successful strategy in a competitive landscape, boosting investor confidence.

Bear Case

Conversely, if Disney reports disappointing subscriber numbers or weak performance in its parks, it may raise concerns about its ability to adapt to market changes.

Expectations

Two Questions That Matter

The print will turn on these two things.

What is the current subscriber count for Disney+ and how does it compare to last quarter?

Subscriber growth is critical for Disney's streaming strategy and will indicate its competitive position in the market.

What are the attendance figures for Disney's theme parks this quarter?

Attendance levels directly impact revenue and profitability, especially as the company recovers from pandemic-related challenges.

Edge

What the Street Is Missing

Why consensus could be wrong

The Street may be underestimating the potential for Disney's parks to rebound strongly, especially with pent-up demand for travel and entertainment.

Supporting Evidence

Recent trends show increased consumer spending on experiences, which could benefit Disney's parks.

Options pricing suggests a higher expected move than historical averages, indicating potential for a significant reaction.

Insider trading activity shows mixed signals, which may not reflect the overall optimism about recovery.

Key Risk

If subscriber growth exceeds expectations, it could shift the narrative significantly.

Edge

Thesis-Break Levels

Pre-commit to what would confirm each case.

This quarter's performance hinges on Disney's ability to grow its streaming service and recover its theme park business.

Bull Confirmed If

A subscriber growth rate of over 10% quarter-over-quarter would confirm the bull case.

Bear Confirmed If

A decline in theme park attendance below 5% year-over-year would confirm the bear case.

Pre-Earnings Positioning

Options Market

Implied Move

±7.43%

Historical Avg

±6.2%

Pricing rich

The options market is pricing in a significant move, suggesting that traders expect volatility around the earnings report.

Options are pricing ±10.9% while DIS has averaged ±6.2% over the last 8 prints — setup is pricing rich.

Detail

ATM IV

0.3%

30d HV

30.5%

Calls (933K)P/C Ratio: 0.80Puts (538K)

Edge

Historical Setup Match

Cross-company pattern from 30 similar setups.

Prior-quarter beat + options rich in Communication Services

n=30

Fade rate: 13 of 28 (46%)

Preparation

Post-Print Playbook

Likely market behavior by outcome — not investment advice.

Beat & Raise

If Disney beats expectations, history suggests the stock could rise around 6% on the first day, confirming a positive outlook.

In-Line / Cautious

If results are in line but management offers cautious commentary, the stock may react moderately, reflecting uncertainty.

Miss

A miss could lead to a decline, with historical patterns suggesting a potential drop of around 6%.

Preparation

Congressional Activity

House & Senate STOCK Act disclosures over the trailing 6 months.

Trades

2 buys·2 sells

Members

House + Senate

Est. Notional

$1.0M–$5.0M

disclosed dollar ranges

Most Active Members

D-CAGilbert CisnerosRep.
2

Earnings Track Record

Preparation

What to Listen For

Call Prep

1Updates on Disney+ subscriber growth and retention strategies.
2Details on theme park attendance and any new attractions or promotions.
3Insights into cost management and profitability across segments.
4Any commentary on competition in the streaming space and how Disney plans to respond.
5Future guidance on revenue expectations for the next quarter.