Disney Set to Report Q3 Earnings Before Wednesday's Bell — Here's What to Watch

Global entertainment and media giant Walt Disney (NYSE:DIS) reports fiscal Q3 2026 earnings before Wednesday's open (Aug. 5). As of 6:30 a.m. Beijing time (6:30 p.m. ET Monday, after the close), shares were at $98.18, up 0.04% from the prior close of $98.14, with an intraday range of $97.38 to $98.57 and an open of $97.87.^{[FinancialContent]} The Street expects revenue to grow 7.4% year over year this quarter, an improvement from the 2.1% pace a year earlier.^[StockStory] Last quarter (fiscal Q2 2026), Disney delivered revenue of $25.17 billion, up 6.5% year over year, beating analyst estimates, with EPS of $1.57 — also ahead of the $1.49 consensus.^[MarketBeat]

Earnings Date and Consensus Estimates

Disney's earnings call is scheduled for 8:30 a.m. ET Wednesday (Aug. 5).^[MarketBeat] Per MarketBeat's consensus of analyst estimates, Disney is expected to post EPS of $1.88 on revenue of $25.398 billion.^[MarketBeat] The company has guided to full-year fiscal 2026 EPS of $6.64.^[MarketBeat] TipRanks data shows an EPS forecast of $1.50 for fiscal Q3 2026 (the upcoming report), versus $1.30 in the year-ago period.^[TipRanks]

A quick look at recent quarterly results: fiscal Q2 2026 (reported March 7, 2026) came in at $1.27 EPS, up 8.28% from $1.171 a year earlier; fiscal Q1 2026 (reported Feb. 2, 2026) was $1.32, down 7.39% from $1.422; and fiscal Q4 2025 (reported Nov. 13, 2025) was $0.90, down 2.63% from $0.921.^[TipRanks] Notably, Disney has missed Wall Street's revenue estimates multiple times over the past two years.^[StockStory]

Segment Performance and Growth Drivers

Per The Motley Fool, new CEO Josh D'Amaro has been focused on building direct relationships with consumers and driving growth in the Experiences segment — theme parks, resorts, cruises and consumer products.^{[Motley Fool]} Last quarter, total revenue rose 7% year over year to $25.2 billion, with adjusted EPS up 8% to $1.57. By segment, Entertainment (streaming, film, etc.) grew 10%, Experiences grew 7%, and Sports (including ESPN) grew 2%.^{[Motley Fool]}

The Motley Fool notes that Disney's "flywheel" strategy is working — hit movies and characters ultimately drive interest in theme parks, merchandise and streaming. Since fiscal Q2 2023 (ended March), trailing-twelve-month net income has nearly tripled to $12.3 billion, with a net margin of 12.7%.^{[Motley Fool]} That said, Disney faces pressure from declining attendance at its domestic theme parks, and soft consumer spending could weigh on results.^{[Motley Fool]}

Stock Performance and Analyst Views

Disney shares have been weak over the past year. Per FinancialContent, the stock is down 12.5% year to date, up 0.5% over the past month, down 3.4% over three months, down 6.3% over six months, and down 18.0% over the past year. The 52-week range is $92.19 to $119.78.^{[FinancialContent]} StockStory data shows the stock up 1% over the past month, with an average analyst price target of $126.51 (versus the current $98.32).^[StockStory]

Several brokers have recently adjusted their ratings and price targets on Disney. Per MarketBeat's compilation: UBS Group cut its target from $138.00 to $133.00 on July 20, maintaining a "Buy" rating; Benchmark reiterated "Buy" on July 20; Raymond James Financial lowered its target from $119.00 to $111.00 on July 2, with an "Outperform" rating; Barclays cut from $135.00 to $110.00 on July 14, with an "Overweight" rating; and Guggenheim raised from $115.00 to $120.00 on May 7, with a "Buy" rating.^[MarketBeat] Across the 24 analysts covering Disney, 1 rates it "Strong Buy," 17 say "Buy," 5 say "Hold," and 1 says "Sell," for a consensus of "Moderate Buy" and an average price target of $129.00.^[MarketBeat]

Peers and Market Context

Within the consumer discretionary sector, some peers have already reported Q2 results, offering a reference point for Disney's print. Per StockStory, Scholastic saw revenue down 6.3% year over year, missing analyst estimates by 7.9%, and the stock fell 7.1% after the report; AMC Entertainment grew revenue 14.2%, beating estimates by 8.7%, and shares rose 13.4% post-earnings.^[StockStory] Consumer discretionary investors have been steady heading into earnings season, with the sector flat over the past month.^[StockStory]

A Benzinga preview piece notes that Disney's 2026 box office has been mixed, but the year could close with a highly anticipated December release that has the potential to be one of the highest-grossing films ever.^{[FinancialContent]} The article is titled "Disney Q3 Preview: More Pain Priced Into Stock, But 'Doomsday' Is Coming (And That's Good)."^{[FinancialContent]}

Dividend and Valuation

Per The Motley Fool, Disney's current annualized dividend is $1.50 per share (paid semi-annually at $0.75), for a yield of roughly 1.5%. A $25,000 investment in Disney stock would generate about $379 in annual dividend income.^{[Motley Fool]} Disney suspended its dividend during the 2020 pandemic, reinstated it in 2023 at $0.30 per share, and has raised it multiple times since — now at $0.75 semi-annually.^{[Motley Fool]} The stock currently trades at roughly 14 times forward earnings.^{[Motley Fool]} Per FinancialContent, Disney's trailing P/E is 15.80, price-to-book is 1.22, beta is 1.39, and market cap is approximately $171.73 billion.^{[FinancialContent]} The Motley Fool notes that Disney shares have been rangebound for the past three years, still 51% below their all-time high from more than five years ago.^{[Motley Fool]}

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