-- 獨立研究機構CFRA向提供了以下研究報告。 CFRA分析師總結如下：迪士尼（DIS）公佈了2026財年第二季（截至9月）的調整後每股收益為1.57美元，高於去年同期的1.45美元（成長8%），超出市場預期。該季度總營業收入從44.1億美元增至46億美元（成長4%）。娛樂SVOD業務實現營業收入5.82億美元（成長88%），利潤率為10.6%；體驗業務營收創歷史新高，達95億美元（成長7%），營業收入為26億美元（成長5%）。然而，由於節目製作成本上升，體育業務面臨不利因素，營業收入下降5%。我們認為，新任CEO將更重視技術投資，並促進各業務部門之間的更好整合。管理層對2026財年業績給出了積極的預期，目標是調整後每股收益增長12%，Disney+的營業利潤率達到10%，以及至少80億美元的股票回購。我們認為，體驗業務板塊將推動未來的成長，公司計劃在未來 10 年內投入 600 億美元用於郵輪船隊擴張和主題公園景點建設；同時，我們預計內容投資週期將為 2026 財年的利潤率帶來壓力，因為娛樂業務將投入數十億美元用於院線發行。
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Copper Lake Resources to Launch 20-For-1 Reverse Stock Split
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US Total Crude Oil Stocks Fall in Week Ended May 1
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Research
Research Alert: L: Q1 Revenue And Eps Miss, Though Results May Not Be Comparable To Consensus
CFRA, an independent research provider, has providedwith the following research alert. Analysts at CFRA have summarized their opinion as follows:L's Q1 revenue of CAD14.4B (+4% Y/Y) missed consensus by CAD90M, while adjusted EPS of CAD0.49 (+9% Y/Y) fell short of CAD0.52 estimates, though we think PC Financial's presentation in discontinued operations may affect comparability. Food retail same-store sales of 2.4% accelerated from Q4's 1.5%, with drug retail posting 4.1% growth. We view the solid same-store sales momentum as encouraging, particularly given internal food inflation remained well below the 4.4% CPI, indicating L's strong value proposition. Management reiterated 2026 guidance for high single-digit EPS growth and CAD2.4B in gross capex. Store expansion accelerated with 13 net openings, including five hard discount locations, aligning with consumer preference shifts toward value formats. Strong FCF of CAD621M (+189% Y/Y) supported aggressive share repurchases of CAD648M. We believe the pending PC Financial divestiture in Q3 2026 will simplify operations and provide additional capital flexibility for core retail growth.
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