-- 独立研究机构CFRA向提供了以下研究报告。CFRA分析师总结如下：迪士尼（Disney+）公布了2026财年第二季度（截至9月）的调整后每股收益为1.57美元，高于上年同期的1.45美元（增长8%），超出市场预期。该业务板块总营业收入从44.1亿美元增至46亿美元（增长4%）。娱乐SVOD业务实现营业收入5.82亿美元（增长88%），利润率为10.6%；体验业务营收创历史新高，达到95亿美元（增长7%），营业收入为26亿美元（增长5%）。然而，由于节目制作成本上升，体育业务板块的营业收入下降了5%，面临不利因素。我们认为，新任CEO将更加注重技术投资，并促进各业务板块之间的更好整合。管理层对2026财年业绩给出了积极的预期，目标是调整后每股收益增长12%，Disney+的营业利润率达到10%，以及至少80亿美元的股票回购。我们认为，体验业务板块将推动未来的增长，公司计划在未来 10 年内投入 600 亿美元用于邮轮船队扩张和主题公园景点建设；同时，我们预计内容投资周期将给 2026 财年的利润率带来压力，因为娱乐业务将投入数十亿美元用于院线发行。
Related Articles
Mining & Metals
Copper Lake Resources to Launch 20-For-1 Reverse Stock Split
Copper Lake Resources (CPL.V) intends to consolidate its common shares on the basis of 20 pre-consolidation common shares for every one post-consolidation common share effective as of May 8, it said Wednesday.The company currently has 271-million common shares issued and outstanding, and following the consolidation, the company will have about 13.6-million common shares issued and outstanding, prior to rounding for fractional shares.Its outstanding options of 19.5-million and warrants of 15.9-million will also be adjusted on the same basis as the common shares with proportionate adjustments being made to exercise prices.Shares of the company were last seen unchanged at $0.02 on the TSX Venture Exchange.
$CPL.V
Sectors
US Total Crude Oil Stocks Fall in Week Ended May 1
US crude oil stocks, including those in the Strategic Petroleum Reserve, fell by 7.5 million barrels in the week ended May 1 following a decrease of 13.4 million barrels in the previous week.Excluding inventories in the SPR, commercial crude oil stocks decreased by 2.3 million barrels after a 6.2-million-barrel drop in the previous week, compared with the 3.4-million-barrel decrease expected in a survey compiled by Bloomberg as of 7:35 am ET.Stocks in the SPR declined by 5.2 million in the week after falling by 7.1 million in the previous week.Overall crude oil stocks were down 0.9% from the previous week but were still up 1.5% from a year earlier. Crude oil inventories are about 1% above the five-year average for this time of year.Gasoline stocks declined by 2.5 million barrels, compared with the 2.6-million-barrel decrease expected. Gasoline stocks edged lower by 1.1% from the previous week and 2.6% from a year earlier.Distillate stocks dropped by 1.3 million barrels in the current week, compared with an expected decrease of 2.3 million barrels. Distillate stocks were down 1.2% from the previous week and 4.1% lower than in the same week a year ago.Refineries operated at 90.1% of their capacity, up from 89.6% in the previous week.
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.
$L