Disney's Animated Sequel 'Moana 2' Off To Flying Start At Box Office: Retail Sentiment Lags

Walt Disney Co. ($DIS) shares’ post-earnings rally could solidify further as early indications suggest the company’s animated sequel “Moana 2” could be a smashing box office success.

The film earned $57.5 million on Wednesday, according to Box Office Mojo, with Gladiator II, the runner-up, collecting a more modest $6.60 million. The Disney animated film’s collection included $13.8 million from Tuesday’s preview shows, Deadline reported.

The opening day numbers for “Moana 2” is the third biggest for an animated title, only behind $71.2 million for “Incredibles 2” and $63.6 million for “Inside Out 2.”

“Moana 2” comes eight years after its original that went on to collect $643.3 million at the global box office in 2016. 

The Deadline report said it is important that the film holds up on Black Friday. Estimated collection for three days through Thursday is $116 million, with ticket sales expected to perk up to $175 million through Sunday on the animated sequel’s first week. If the numbers meet expectations, “Moana 2” will break the previous Thanksgiving week record of $125 million held by “Frozen II.”

In the fourth quarter that ended Sept. 24, Disney’s entertainment segment reported revenue of $10.83 billion, accounting for roughly 48% of the total revenue. The segment’s revenue jumped 14%, helping to offset the softness seen in its Sports and Experiences segments. Direct-to-consumer revenue was up a strong 15% at $5.78 billion. 

Disney shares ended Wednesday’s session up 1.86% at $117.60, and for the year they are up over 30%. The stock was little changed in Friday’s premarket session.

DIS sentiment and message volume November 259, 2024, premarket as of 4:18 am ET | Source: Stocktwits

On Stocktwits, retail sentiment toward Disney remained ‘neutral' (47/100), while message volume dipped to a ‘low.’