Revenue Growth - Revenues for the fiscal year ended May 31, 2022, increased by $342.6 million, or 26.3%, reaching $1,642.9 million compared to $1,300.3 million in the prior fiscal year[110] - Total revenues for fiscal year 2022 increased by $342.6 million, or 26.3%, to $1,642.9 million compared to $1,300.3 million in fiscal year 2021[136] - Revenues from the Children's Book Publishing and Distribution segment rose by $271.5 million, driven by a $265.4 million increase in book fairs channel revenues due to the return of in-person fairs[137] - Education Solutions segment revenues increased by $81.3 million, fueled by higher demand for educational products, particularly cultural awareness and early childhood programs[138] - Revenues for fiscal 2022 increased by $271.5 million to $946.5 million, a 40.2% increase compared to $675.0 million in fiscal 2021, driven by the recovery of the book fairs channel[150] - The book fairs channel revenues increased by $265.4 million, with a 26% increase in revenue-per-fair levels compared to the prior year[150] Profitability - The net income per basic and diluted share for Class A and Common Stock was $2.33 and $2.27, respectively, compared to a net loss of $0.32 per share in the prior fiscal year[110] - Operating income improved to $97.4 million from an operating loss of $22.7 million in the prior fiscal year, reflecting a $120.1 million improvement driven by the recovery of the book fairs business[111] - Net income attributable to Scholastic Corporation for fiscal year 2022 was $80.9 million, compared to a net loss of $11.0 million in fiscal year 2021[136] - Net income for fiscal 2022 was $81.0 million, an improvement of $91.9 million compared to a net loss of $10.9 million in fiscal 2021[147] - Segment operating income for the Children's Book Publishing and Distribution segment was $115.3 million, compared to $8.9 million in the prior fiscal year, reflecting a significant recovery[154] - The Company anticipates modest growth in operating income in fiscal 2023, despite increased spending associated with growth initiatives[160] Expenses and Costs - Cost of goods sold for fiscal year 2022 was $765.5 million, representing 46.6% of total revenues, down from 48.4% in the prior year[140] - Selling, general and administrative expenses increased by $100.1 million to $722.8 million, primarily due to higher employee-related costs and increased labor and warehouse-related expenses[141] - Other operating expenses rose to $380.5 million, an increase of $71.1 million, mainly due to higher employee-related costs and increased marketing expenses[152] - Management anticipates higher cost of goods sold as a percentage of revenues in fiscal 2023 due to inflationary pressures and newly purchased inventory[140] - A one percentage point change in the estimated reserve for returns could impact operating income by approximately $3.3 million[117] Future Outlook - For fiscal 2023, the company anticipates an 85% recovery in book fair count to pre-pandemic levels while maintaining strong revenue per fair[112] - The company expects continued growth in educational product sales due to government funding programs and improvements in sales and marketing efforts[113] - The New Worlds Reading Initiative program will enter its second year in August, contributing to revenue growth[113] - Internationally, modest improvement in operating profits is expected as major markets recover from the pandemic, aided by the exit from the low-margin direct-sales business in Asia[113] - The Company plans to exit and sell the direct sales business in Asia, which generated revenues of $17.2 million in fiscal 2022[162] Cash Flow and Liquidity - Cash provided by operating activities increased by $155.0 million to $226.0 million, driven by $390.0 million in higher customer collections and $54.0 million in higher net federal tax refunds[168] - Cash used in investing activities decreased by $7.3 million to $43.2 million, mainly due to lower spending on property, plant, and equipment[169] - Cash used by financing activities increased by $176.9 million to $229.2 million, primarily due to repayments of borrowings under the U.S. credit agreement of $175.0 million[170] - The Company's cash and cash equivalents totaled $316.6 million as of May 31, 2022, down from $366.5 million in the prior year[171] - The Company expects to maintain sufficient liquidity for ongoing operations, with primary sources including cash and cash equivalents of $316.6 million and U.S. loan agreements[175] - The U.S. credit agreement was amended to increase the borrowing limit from $250.0 million to $300.0 million, providing flexibility for business operations[173] Strategic Initiatives - The Company repurchased $33.4 million of common stock during the fiscal year, lifting the temporary suspension of its buy-back program[174] - The Company is exploring domestic and international expansion opportunities, including potential niche and strategic acquisitions[179] - The Company manages foreign currency exchange rate risks through established procedures and short-term forward exchange contracts[180]

ADD COVER IMAGE HERE ■SCHOLASTIC Fourth Quarter & FY 2022 Earnings Call Presentation Thursday, July 21, 2022 Forward-Looking Statements This presentation contains certain statements made today which will be forward-looking. These forward-looking statements, by their nature, are subject to various risks and uncertainties, and actual results may differ materially from those currently anticipated. 2 Regulation G Today's comments include references to certain non-GAAP financial measures as defined in Regulation ...

Scholastic Corporation (NASDAQ:SCHL) Q4 2022 Earnings Conference Call July 21, 2022 4:30 PM ET Company Participants Paul Hukkanen - Chief Accounting Officer Peter Warwick - President and Chief Executive Officer Ken Cleary - Chief Financial Officer Operator Good day and thank you for standing by and welcome to the Scholastic Reports Q4 and Fiscal Year 2022 Results Conference Call. [Operator Instructions] Please be advised that today’s conference is being recorded. I would now like to hand the conference over ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Quarterly Report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended February 28, 2022 Commission File No. 000-19860 SCHOLASTIC CORPORATION (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 557 Broadway, New York, New York 10012 (Address of principal executive offices) (Zip Code) Delaware 13-3385513 (IRS Employ ...

Scholastic Corporation (NASDAQ:SCHL) Q3 2022 Earnings Conference Call March 17, 2022 4:30 PM ET Company Participants Paul Hukkanen - VP and CAO Peter Warwick - CEO Ken Cleary - CFO Operator Good day and thank you for standing by, and welcome to the Scholastic Fiscal 2022 Third Quarter Earnings Call. At this time, all participants are in a listen-only mode. Please be advised this call is being recorded. [Operator Instructions] I would now like to hand the conference over to your host today, Paul Hukkanen, Ch ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Quarterly Report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended November 30, 2021 Commission File No. 000-19860 SCHOLASTIC CORPORATION (Exact name of Registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) 557 Broadway, New York, New York 10012 (Address of principal executive offices) (Zip Code) Delaware 13-3385513 (IRS Employ ...

Financial Data and Key Metrics Changes - Revenues for Q2 grew to $524.2 million, up from $406.2 million in the prior year, representing a 29% increase [36] - Operating income increased to $84.3 million from $54.3 million year-over-year [36] - Net income rose to $69 million compared to $39.4 million last year [36] - Adjusted EBITDA was $113.7 million, up from $77.7 million in the previous year [36] - Earnings per diluted share increased to $1.93 from $1.15 [36] - Net cash provided by operating activities was $78 million, compared to $46.1 million in the same quarter last year [37] - Free cash flow for the quarter was $75.4 million, up from $30.9 million [37] Business Line Data and Key Metrics Changes - Book Fairs revenue reached $176.2 million, significantly up from $47.7 million in the prior period [42] - Trade revenues were $124.4 million, slightly down from $129.3 million due to the previous year's release of a high-profile title [45] - Book Clubs revenue was $51.9 million, down from $67 million, attributed to labor shortages and backlog issues [46] - Education Solutions revenues increased to $79.5 million from $67.5 million, with operating income rising to $15.6 million from $10.3 million [49] - Magazine revenue increased by $2.7 million compared to the prior year [50] Market Data and Key Metrics Changes - International segment revenues were $92.2 million, down from $94.7 million, with operating income decreasing to $9 million from $19.5 million [52] - Australia and New Zealand faced lower revenues due to recent lockdowns, while Canada showed a strong recovery [53] - Sales in Asia decreased due to COVID restrictions and new regulations in China affecting tutoring and foreign content [54] Company Strategy and Development Direction - The company aims to recover its Book Fairs business as schools reopen for in-person learning, with a focus on improving data analytics capabilities [42][44] - A formal combination of the Education and Magazine divisions is expected to streamline marketing and growth opportunities [27] - The company is enhancing its digital offerings and focusing on diverse voices in publishing [51] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about future results despite ongoing cost and supply chain challenges [61] - The company has implemented cost-saving initiatives and technology investments that are expected to benefit operations moving forward [57][58] - Management noted that while labor and product costs have increased, proactive measures are being taken to address these challenges [60] Other Important Information - The company restarted its share buyback program, reacquiring over 134,000 shares for $5 million [41] - A five-year partnership with the University of Florida aims to support literacy initiatives, with potential to reach 500,000 children [29] - The company approved a regular quarterly dividend of $0.15 per share [62] Q&A Session Summary Question: What is the outlook for the Book Fairs business? - Management confirmed that the Book Fairs business is recovering, with revenues exceeding expectations, although still below pre-pandemic levels [11][42] Question: How is the company addressing labor shortages? - The company is increasing wages and incentives at its distribution facilities to attract more staff and reduce backlogs [46][60]

Financial Performance - Revenues increased by 29% to $5242 million in Q2 FY22[8] - Operating income improved by approximately $30 million[8] - Adjusted EBITDA for the three months ended November 30, 2021, was $1137 million, compared to $777 million for the same period in 2020[26] - Free cash flow for the three months ended November 30, 2021, was $754 million, compared to $309 million for the same period in 2020[29] - Total debt decreased significantly to $143 million from $1948 million[29] Business Segment Performance - Children's Book Publishing & Distribution saw significant recovery in book fairs, moving towards pre-pandemic levels[10] - Book Fairs revenue increased significantly, contributing to a 44% increase in total Children's Book Publishing and Distribution revenue[33, 33] - Book Clubs experienced increased demand but faced industry-wide labor shortages[10] - Education Solutions revenue increased by 18%[33] - International business experienced disruptions in Asia, leading to a decrease in demand[13] Key Initiatives and Outlook - The company is focused on increasing the number of book fairs held and recovering from operational difficulties in book clubs[14] - New revenue channels in Education Solutions, such as PreK On My Way™, Scholastic Literacy Pro®, and Scholastic FIRS.T.®, are gaining traction[12] - Scholastic is a partner in the State of Florida's New Worlds Reading Initiative[16]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q Quarterly Report pursuant to section 13 or 15(d) of the Securities Exchange Act of 1934 For the quarterly period ended August 31, 2021 Commission File No. 000-19860 (State or other jurisdiction of incorporation or organization) 557 Broadway, New York, New York 10012 (Address of principal executive offices) (Zip Code) SCHOLASTIC CORPORATION (Exact name of Registrant as specified in its charter) Delaware 13-3385513 (IRS Employer ...

ADD COVER IMAGE HERE First Quarter FY 2022 Earnings Call Presentation Thursday, September 23, 2021 Forward-Looking Statements This presentation contains certain forward-looking statements. Such forward-looking statements are subject to various risks and uncertainties, including those arising from the continuing impact of COVID-19 related measures taken by governmental authorities, school administrators, or suppliers or customers which may curtail or otherwise adversely affect certain of the Company's busine ...