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The Zacks Consensus Estimate for fourth-quarter fiscal 2026 revenues is pegged at $25.26 billion, suggesting modest growth of 12.43% from the year-ago quarter’s reported figure.
The consensus mark for earnings has moved south by a penny to $1.67 per share over the past 30 days, indicating growth of 50.45% year over year.
For the fourth quarter of fiscal 2026, Disney expects total segment operating income of approximately $4.9 billion, including the benefit of the 53rd week.
Disney’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 6.63%.
Let’s see how things have shaped up for the upcoming announcement.
On the entertainment side, Disney's direct-to-consumer business entered the quarter having just delivered its first double-digit Entertainment SVOD operating margin, with management reiterating confidence in sustaining at least 10% for the full year. The content slate through the quarter included the theatrical release of Toy Story 5, which crossed the billion-dollar mark globally, and the streaming debut of Avatar: Fire and Ash on Disney+ in late June, both expected to support engagement and content-sales revenues. The Mandalorian and Grogu also launched in theaters over Memorial Day, though its steep second-weekend decline tempered enthusiasm around the title's staying power.
Offsetting these positives, Disney had explicitly guided for Sports segment operating income to decline by roughly 14% year over year in the fiscal third quarter, driven by higher programming costs tied to the timing of new rights agreements, including a shift of college sports and NBA rights expenses into the period.
At Experiences, management had pointed to easing year-over-year attendance headwinds at domestic parks, with the Disney Adventure cruise ship and World of Frozen expansion at Disneyland Paris, both launched in March, expected to continue contributing incremental guest spending. Even so, the company had flagged continued mindfulness of macroeconomic uncertainty weighing on consumer behavior, tempering visibility into discretionary spending trends.
Given the clearly telegraphed Sports segment drag, ongoing streaming investment costs and lingering macro caution acknowledged by management itself, the near-term setup appeared balanced rather than decisively bullish. Investors already holding shares may find it prudent to stay the course given the durable SVOD margin trajectory and healthy content pipeline, while those considering fresh positions might have benefited from waiting for post-earnings clarity before committing new capital.
What Our Model Indicates
Our proven model predicts an earnings beat for Disney this time around. According to the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. However, this is not the case here, as you can see below.
Disney has an Earnings ESP of +5.93% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks to Consider
Here are some other companies worth considering, as our model shows that these also have the right combination of elements to beat earnings in their upcoming releases:
Hewlett Packard (HPE - Free Report) presently has an Earnings ESP of +2.64% and a Zacks Rank #2. HPE’s shares have surged 109.2% year to date. HPE is set to report its fourth quarter of fiscal 2026 results on Nov. 23. You can see the complete list of today’s Zacks #1 Rank stocks here.
Analog Devices (ADI - Free Report) currently has an Earnings ESP of +2.23% and carries a Zacks Rank #3. ADI’s shares have gained 50.9% year to date. NVDA is set to report its fourth quarter of fiscal 2026 results on Nov. 24.
Broadcom (AVGO - Free Report) currently has an Earnings ESP of +1.86% and carries a Zacks Rank #3. AVGO’s shares have lost 0.3% year to date. AVGO is set to report its fourth quarter of fiscal 2026 results on Dec. 9.
View the Zacks #1 Rank List
Image: Bigstock
Disney to Report Q4 Earnings: What's in Store for the Stock?
Key Takeaways
The Walt Disney Company (DIS - Free Report) is slated to report fourth-quarter fiscal 2026 results on Nov. 17.
The Zacks Consensus Estimate for fourth-quarter fiscal 2026 revenues is pegged at $25.26 billion, suggesting modest growth of 12.43% from the year-ago quarter’s reported figure.
The consensus mark for earnings has moved south by a penny to $1.67 per share over the past 30 days, indicating growth of 50.45% year over year.
For the fourth quarter of fiscal 2026, Disney expects total segment operating income of approximately $4.9 billion, including the benefit of the 53rd week.
Disney’s earnings surpassed the Zacks Consensus Estimate in each of the trailing four quarters, with an average surprise of 6.63%.
Let’s see how things have shaped up for the upcoming announcement.
The Walt Disney Company Price and EPS Surprise
The Walt Disney Company price-eps-surprise | The Walt Disney Company Quote
Factors Shaping Upcoming Q4 Results
On the entertainment side, Disney's direct-to-consumer business entered the quarter having just delivered its first double-digit Entertainment SVOD operating margin, with management reiterating confidence in sustaining at least 10% for the full year. The content slate through the quarter included the theatrical release of Toy Story 5, which crossed the billion-dollar mark globally, and the streaming debut of Avatar: Fire and Ash on Disney+ in late June, both expected to support engagement and content-sales revenues. The Mandalorian and Grogu also launched in theaters over Memorial Day, though its steep second-weekend decline tempered enthusiasm around the title's staying power.
Offsetting these positives, Disney had explicitly guided for Sports segment operating income to decline by roughly 14% year over year in the fiscal third quarter, driven by higher programming costs tied to the timing of new rights agreements, including a shift of college sports and NBA rights expenses into the period.
At Experiences, management had pointed to easing year-over-year attendance headwinds at domestic parks, with the Disney Adventure cruise ship and World of Frozen expansion at Disneyland Paris, both launched in March, expected to continue contributing incremental guest spending. Even so, the company had flagged continued mindfulness of macroeconomic uncertainty weighing on consumer behavior, tempering visibility into discretionary spending trends.
Given the clearly telegraphed Sports segment drag, ongoing streaming investment costs and lingering macro caution acknowledged by management itself, the near-term setup appeared balanced rather than decisively bullish. Investors already holding shares may find it prudent to stay the course given the durable SVOD margin trajectory and healthy content pipeline, while those considering fresh positions might have benefited from waiting for post-earnings clarity before committing new capital.
What Our Model Indicates
Our proven model predicts an earnings beat for Disney this time around. According to the Zacks model, the combination of a positive Earnings ESP and a Zacks Rank #1 (Strong Buy), 2 (Buy), or 3 (Hold) increases the odds of an earnings beat. However, this is not the case here, as you can see below.
Disney has an Earnings ESP of +5.93% and a Zacks Rank #3. You can uncover the best stocks to buy or sell before they’re reported with our Earnings ESP Filter.
Other Stocks to Consider
Here are some other companies worth considering, as our model shows that these also have the right combination of elements to beat earnings in their upcoming releases:
Hewlett Packard (HPE - Free Report) presently has an Earnings ESP of +2.64% and a Zacks Rank #2. HPE’s shares have surged 109.2% year to date. HPE is set to report its fourth quarter of fiscal 2026 results on Nov. 23. You can see the complete list of today’s Zacks #1 Rank stocks here.
Analog Devices (ADI - Free Report) currently has an Earnings ESP of +2.23% and carries a Zacks Rank #3. ADI’s shares have gained 50.9% year to date. NVDA is set to report its fourth quarter of fiscal 2026 results on Nov. 24.
Broadcom (AVGO - Free Report) currently has an Earnings ESP of +1.86% and carries a Zacks Rank #3. AVGO’s shares have lost 0.3% year to date. AVGO is set to report its fourth quarter of fiscal 2026 results on Dec. 9.