Disney sees FY25 adjusted EPS $5.75, consensus $5.44

Sees FY25: Adjusted EPS of $5.75, an increase of 16% over fiscal 2024; Cash provided by operations of $17 billion, a $2 billion increase over prior guidance driven by the deferral of tax payments; Entertainment: Double-digit percentage segment operating income growth. Sports: 18% segment operating income growth. Experiences: 6% to 8% segment operating income growth. Disney (DIS) Cruise Line pre-opening expense of ~$200 million, with ~$40 million in Q3 and ~$50 million in Q4. Equity loss from India JV of ~$300 million driven by purchase accounting amortization.