Squawk Pod Disney Earnings and Rising Health Costs 11/13/25
Nov 13, 2025
Hugh Johnston, CFO of The Walt Disney Company, shares insights on Disney's latest earnings, navigating a tough streaming landscape, and the impact of YouTube TV negotiations. He discusses the company's strong parks performance and the strategic advantages of its IP-driven ecosystem. Mark Bertolini, CEO of Oscar Health, dives into the rising insurance premiums and challenges of the Affordable Care Act. He proposes innovative solutions like qualified accounts to empower consumers and tackle inefficiencies in the healthcare system.
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Disney Called An Earnings Compounder
- Disney delivered 19% EPS growth this year and 19% CAGR over three years, signaling strong long-term profitability.
- The company views itself as an "earnings compounder" backed by cash flow, buybacks, and a higher dividend.
Streaming And Parks Both Showing Momentum
- Disney's direct-to-consumer (DTC) segment showed strong growth with rising subscribers and operating income.
- Experiences (parks/cruise) also grew revenue and operating income, supporting diversified earnings.
Use Returns To Signal Sustained Cash Flow
- Committing to a dividend and larger buybacks signals sustained cash-flow confidence to investors.
- Use capital returns to build investor conviction only when cash flow is expected to remain strong.
