Statement From The Walt Disney Company In Response To The Statement Released By Nelson Peltz; We Are On Track To Achieve About $7.5B In Cost Savings – $2B More Than Our Original Target; Disney Expects Free Cash Flow To Approach Pre-Covid Levels In FY24
Portfolio Pulse from Benzinga Newsdesk
The Walt Disney Company responded to Nelson Peltz's statement, announcing it is on track to achieve approximately $7.5 billion in cost savings, which is $2 billion more than the original target. Disney also expects its free cash flow to approach pre-COVID levels in FY24.
November 30, 2023 | 4:18 pm
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Disney is set to exceed its cost savings target by $2 billion, aiming for $7.5 billion in savings, and anticipates free cash flow to return to pre-COVID levels by FY24.
The announcement of exceeding cost savings targets and the expectation of free cash flow returning to pre-COVID levels are strong positive signals for investors. This indicates effective cost management and financial recovery, which are likely to be viewed favorably by the market, potentially leading to a short-term increase in Disney's stock price.
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