Warner Bros. Discovery Expects FY23 Adj EBITDA $10.5B-$11B, Implying an Impact of $300M-$500M Due to Strikes Which Will Continue Through Year End, Sees Q3 FCF Over $1.7B Due to Barbie's Performance
Portfolio Pulse from Benzinga Newsdesk
Warner Bros. Discovery (WBD) has revised its FY23 guidance due to ongoing WGA and SAG-AFTRA strikes. The company expects adjusted EBITDA to be negatively impacted by $300M-$500M, but raises its free cash flow expectations to at least $5B, partly due to Barbie's strong performance. WBD also expects Q3 free cash flow to exceed $1.7B.
September 05, 2023 | 11:49 am
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Warner Bros. Discovery expects FY23 adjusted EBITDA to be negatively impacted by $300M-$500M due to ongoing strikes. However, the company raises its free cash flow expectations to at least $5B, partly due to Barbie's strong performance.
The ongoing strikes are expected to negatively impact Warner Bros. Discovery's adjusted EBITDA, which could potentially lead to a decrease in the company's stock price. However, the company's raised free cash flow expectations, partly due to Barbie's strong performance, could offset this negative impact.
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