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<ul class="summary-list"><li>Disney surprised many media analysts by sharing earnings guidance through 2027.</li><li>There's little precedent for such a move, which reflects the Mouse House's confidence.</li></ul>Disney's head-turning decision to share three years' worth of earnings guidance is a fascinating strategic move — and may be part of a bigger play from legacy-minded CEO Bob Iger.The Mouse House pleased analysts this week with its <a target="_blank" href="https://thewaltdisneycompany.com/app/uploads/2024/11/q4-fy24-earnings.pdf">quarterly earnings report</a>, as operating income rose 23% while revenue advanced by 6%. Highlights included a more than four-fold increase in entertainment earnings and a $321 million profit in streaming, <a target="_blank" href="https://www.businessinsider.com/espn-streaming-disney-venu-sports-bundle-business-strategy-john-lasker-2024-8">including ESPN+</a>.Those solid results, however, were upstaged by Disney lifting the curtain on its internal outlook through 2027. The entertainment giant said investors can expect high-single-digit earnings growth in 2025, followed by a double-digit improvement in each of the next two years.Wall Street was generally surprised by the disclosure, as it's <a target="_blank" href="https://markets.businessinsider.com/news/stocks/disney-stock-price-3q-earnings-streaming-profit-guidance-cruise-parks-2024-11">exceedingly rare</a> for a company to be that transparent about the road ahead — especially one as typically tight-lipped as Disney."I don't think I've ever seen anything this specific and this detailed," veteran Macquarie media analyst Tim Nollen said of that multi-year guidance in a Friday interview with Business Insider.Robert Fishman, a media analyst at MoffettNathanson, wrote in a November 14 report that "this level and specificity of guidance may represent a whole new world for Disney."But there's more to this unprecedented move than just throwing investors a bone.Iger also seems to be showing off the progress Disney has made during his second stint as CEO, while outlining how his company is set up for long-term success. By doing so, he can tell the world that he's not leaving his yet-to-be-named successor in the lurch (though that also puts pressure on them to deliver).<h2 id="6d252427-f27e-400b-a5d6-f3a79c309e95">Bob-ing and weaving</h2>Disney's earnings report and presentation were littered with comparisons to two years ago, which seems deliberate — if subtle. That's when <a target="_blank" href="https://www.businessinsider.com/inside-return-disney-ceo-bob-iger-ouster-chapek-executive-complaints-2022-11">Iger returned to Disney to take over for Bob Chapek</a>, whose brief helm at the Mouse House will live in infamy for lackluster financial performance.Here's part of the first sentence of <a target="_blank" href="https://thewaltdisneycompany.com/app/uploads/2024/11/q4-fy24-earnings.pdf">Iger's earnings-report statement</a>: "Thanks to the significant progress we've made, we have emerged from a period of considerable challenges and disruption well positioned for growth and optimistic about our future."Then there's the third slide of <a target="_blank" href="https://thewaltdisneycompany.com/app/uploads/2024/11/Q4-FY24-Earnings-Presentation.pdf">Disney's earnings presentation</a>, which illustrates how its streaming business swung from a $1.5 billion quarterly loss in late 2022 — Chapek's last quarter as CEO — to a $321 million profit. Two slides later, Disney shows off the progress it has made under Iger in the last year.<div type="image" title="Disney streaming presentation" height="1162" width="2064" msid="115362715" hostid="261" sizebytes="65134"></div>While Chapek made many missteps, he was dealt a tough hand. Iger hand-picked his heir in February 2020, just as the pandemic took hold. And the former parks head was never fully given the reins at Disney, as <a target="_blank" href="https://www.nytimes.com/2020/04/12/business/media/disney-ceo-coronavirus.html">Iger undermined</a> the man <a target="_blank" href="https://www.cnbc.com/2023/09/06/disney-succession-mess-iger-chapek.html">he reportedly called "Little Bob"</a> early and often.<div type="image" title="Disney YoY improvement" height="1158" width="2064" msid="115362720" hostid="261" sizebytes="47026"></div>Iger surely knows he must get succession right this time, both to cement his legacy as a Disney legend and atone for what's arguably the biggest blemish on his nearly two-decade run as CEO.That's something to keep in mind when considering the company's choice to give guidance through 2027. Disney recently said that <a target="_blank" href="https://www.businessinsider.com/disney-bob-iger-ceo-successor-early-2026-james-gorman-chairman-2024-10">it would name its next CEO</a> in early 2026.With this forecast, Iger is showing the world that he has set up his successor well — at least by Disney's own forecasts.Nollen said that by issuing this multi-year guidance, Disney is "clearing the decks and getting out from under this cloud of all this change and all this uncertainty, and looking forward positively."Succession has been the biggest subplot at Disney for years, and there will be some anxiety until it's settled. In the meantime, Iger has given Wall Street something else to focus on."I would guess Bob Iger is feeling the pressure to demonstrate that he has set the company back on the right track," Nollen said. "And by giving such thorough guidance, yes, it clears a pathway for investors to understand — or at least to believe — that the company has things under control."

Disney CEO Bob Iger is moving to cement his legacy by undoing his biggest mistake

Both <keyword id="19896381" type="General" weightage="100" keywordseo="nifty" source="keywords">Nifty</keyword> and <keyword id="19896382" type="General" weightage="20" keywordseo="sensex" source="keywords">Sensex</keyword> got off to a slow start, with <keyword id="19896381" type="General" weightage="100" keywordseo="nifty" source="keywords">Nifty</keyword> trading at 23,864.35 points, down by 0.02% and <keyword id="19896382" type="General" weightage="20" keywordseo="sensex" source="keywords">Sensex</keyword> trading at 78,749.51 points, up by 0.096 % as of 9:57 am. As for sectoral indices, Nifty bank, auto, IT, financial services, FMCG, PSU, private bank and oil and gas opened the day in red, while media, realty, pharma and metal managed to gain early ground. <cmsannotation type="cmsannotation" annotationid="Stocks in Action" comment="subhead" text="Stocks in Action">Stocks in Action</cmsannotation> <keyword id="19963567" type="General" weightage="20" keywordseo="ultratech-cement" source="keywords" meta.keywordsubtype="org" meta.entityname="ultratech cement" meta.hostid="261" meta.entityid="ultratech cement">UltraTech cement</keyword> informed the exchange that it has purchased 7.06 crore equity shares, or about 23% of <keyword id="22197392" type="General" weightage="20" keywordseo="india-cement-limited" source="keywords" meta.keywordsubtype="org" meta.entityname="india cement limited" meta.hostid="261" meta.entityid="india cement limited">India Cement Limited</keyword>'s equity share capital. The deal was finalised at Rs 267 per share. Stocks of <keyword id="19963567" type="General" weightage="20" keywordseo="ultratech-cement" source="keywords" meta.keywordsubtype="org" meta.entityname="ultratech cement" meta.hostid="261" meta.entityid="ultratech cement">UltraTech Cement</keyword> were trading at Rs 11,830, up by 6.16% during early morning trade. After JSW Steel announced yesterday that it will be spending around $110 million on upgrading its Texas-based manufacturing facility to produce specialised steel products required by the US government to meet its offshore wind energy targets, the stock was trading at Rs 936.55, up by 1.89% Grasim, Dr. Reddy's, JSW Steel and Tata Steel were amongst the other stocks that were trading in green this morning. On the other hand, <keyword id="19967472" type="General" weightage="20" keywordseo="mahindra" source="keywords">Mahindra</keyword> and <keyword id="19967472" type="General" weightage="20" keywordseo="mahindra" source="keywords">Mahindra</keyword>, HCLTech, Wipro and Apollo hospitals were trading in red during early morning trade. <keyword id="19906967" type="General" weightage="20" keywordseo="tata-motors" source="keywords" meta.keywordsubtype="org" meta.entityname="tata motors" meta.hostid="261" meta.entityid="tata motors">Tata Motors</keyword> announced that it is partnering with <keyword id="19955371" type="General" weightage="20" keywordseo="bajaj-finance" source="keywords" meta.keywordsubtype="org" meta.entityname="bajaj finance" meta.hostid="261" meta.entityid="bajaj finance">Bajaj Finance</keyword> to enter the commercial vehicle financing space. Reports suggest that the company is looking to introduce a host of consumer finance products and embedded insurance by the end of this year. During early trade today, <keyword id="19955371" type="General" weightage="20" keywordseo="bajaj-finance" source="keywords" meta.keywordsubtype="org" meta.entityname="bajaj finance" meta.hostid="261" meta.entityid="bajaj finance">Bajaj Finance</keyword>'s stock was trading at Rs 7,193.75, up by 0.5%. According to Mr. Aditya Gaggar, director of Progressive Shares, "select buying in heavyweight counters helped the index end the session at yet another record level of 23,869. With an extremely overbought reading in the Auto sector, we continue to hold our stance of correction in the form of profit booking (2W &amp;3W); however, buying interest can be seen in the Ancillary stocks. Reliance-led rally pushed the energy sector higher; the sustainability of the momentum will depend on follow-up buying. Britannia and GodrejCP look strong in the FMCG segment. Some more downside is still left in the metal and real estate sectors. Agro/specialty chemicals and textile stocks are gaining momentum, so one should keep an eye on the same." Sameet Chavan, Head of Research, Technical and Derivatives at Angel One, asks traders to stay agile and regularly shift focus between themes. "for the last two sessions, heavyweight counters have driven the market higher, with <keyword id="19936674" type="General" weightage="20" keywordseo="reliance" source="keywords" meta.keywordsubtype="org" meta.entityname="reliance" meta.hostid="261" meta.entityid="reliance">Reliance</keyword> up more than 4% in yesterday's session, significantly contributing to the benchmark's rise. In this scenario, midcaps have taken a back seat, with no major traction seen from their end. We believe the shift in momentum and sector rotation will continue.".

Market Morning: JSW Steel, UltraTech Cement in action

In the realm of <keyword id="6378916" type="General" weightage="90" keywordseo="cement" source="Orion">cement</keyword> production, China and India are navigating diverging market currents, shaped by distinct economic landscapes. <keyword id="125045" type="General" weightage="50" keywordseo="fitch-ratings" source="Orion">Fitch Ratings</keyword>' insights reveal a challenging outlook for <keyword id="19792359" type="General" weightage="80" keywordseo="chinese-cement" source="Orion">Chinese cement</keyword> demand in 2024, driven by ongoing distress in the property sector. Meanwhile, India's <keyword id="34556" type="General" weightage="60" keywordseo="cement-industry" source="Orion">cement industry</keyword> charts a more optimistic course, with steady demand growth projected over the medium term. The Chinese property sector's persistent challenges and a projected slowdown in infrastructure investment contribute to weakened cement demand in 2024. Strained financing conditions for local governments, coupled with a decline in land sales, hamper their capacity to bolster spending on crucial infrastructure projects. Despite these hurdles, Fitch notes a potential stabilization of producers' margins in the face of adversity. The gross profit of China's top five cement producers witnessed a 3% decline in 3Q23, marking a notable slowdown from the sharper contractions observed in previous quarters. Anticipating a reduction in capacity, Fitch foresees smaller, less profitable producers exiting the market in 2024. Government policies on capacity control and sector decarbonisation are expected to contribute to a medium-term reduction in overall capacity. Contrasting China, India's <keyword id="82914" type="General" weightage="20" keywordseo="cement-sector" source="Orion">cement sector</keyword> foresees a robust trajectory driven by the nation's steady GDP expansion. Fitch predicts an annual growth rate of 6 per cent-8 per cent in cement demand over the coming years. Infrastructure and affordable housing projects, fuelled by government spending, are expected to spearhead this growth, with additional impetus from the ongoing recovery in urban housing throughout 2024. While India anticipates a doubling of annual cement capacity additions in the next five years, the industry's robust demand growth will help maintain healthy capacity utilization. Fitch notes that the top five Indian producers will spearhead new capacities, with further mergers and acquisitions on the horizon. Despite this positive outlook, the industry's focus on market share retention amid capacity expansions is likely to temper the potential widening of profit margins, even with energy prices normalizing post-2022.

China's cement sector faces headwinds, while India sees steady growth: Fitch Ratings

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Disney CEO Bob Iger is moving to cement his legacy by undoing his biggest mistake

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China's cement sector faces headwinds, while India sees steady growth: Fitch Ratings

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