CEO Contract Extension Boosts Walt Disney; MillerKnoll Q4 Earnings Beat, Outlook Disappoints
- July 12th, 2023
- 348 views
Disney CEO Robert A. Iger's contract extension until December 31, 2026, propelled shares of The Walt Disney Company (NYSE: DIS) in after-hours trading.
The Board of Directors unanimously voted to extend Iger's tenure, emphasizing the need for leadership continuity during the company's ongoing transformation and the implementation of a CEO succession plan.
$DIS was trading at $90.92 in the extended session, up $0.77 (0.85%) following the announcement
In other news, MillerKnoll, Inc. (Nasdaq: MLKN) reported adjusted earnings per share (EPS) of $0.41 for the fourth quarter of fiscal 2023, surpassing the consensus estimate of $0.39.
However, the company provided a lower outlook for the first quarter of fiscal 2024, expecting adjusted EPS to range from $0.18 to $0.24, while analysts are projecting an EPS of $0.40 for the period.
In after-hours, $MLKN was trading at $15.70, reflecting a decrease of $0.76 (4.62%)
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