Scholastic Corporation (NASDAQ:SCHL) Q4 2024 Earnings Conference Call July 18, 2024 4:30 PM ET Company Participants Jeffrey Mathews - Investor Relations Peter Warwick - President & Chief Executive Officer Haji Glover - Chief Financial Officer Conference Call Participants Brendan McCarthy - Sidoti & Company Operator Thank you for standing by, and welcome to the Scholastic Reports Fourth Quarter Fiscal Year 2024 Results. At this time, all participants are in listen-only mode. After the speakers' presentation, ...

Scholastic (SCHL) came out with quarterly earnings of $1.73 per share, missing the Zacks Consensus Estimate of $2.66 per share. This compares to earnings of $2.26 per share a year ago. These figures are adjusted for nonrecurring items. This quarterly report represents an earnings surprise of -34.96%. A quarter ago, it was expected that this publishing, education and media company would post a loss of $0.80 per share when it actually produced a loss of $0.80, delivering no surprise. Over the last four quarte ...

■SCHOLASTIC Thursday, July 18, 2024 2 Today's comments include references to certain non-GAAP financial measures as defined in Regulation G. The reconciliation of these non-GAAP financial measures with the relevant GAAP financial information and other information required by Regulation G is provided in the Company's earnings release, which is posted on the Company's investor relations website at investor.scholastic.com. Fourth Quarter & Fiscal 2024 Results ○ Revenue down 10%, driven by Education Solutions a ...

Scholastic Reports Fourth Quarter and Fiscal 2024 Results Advanced Long-Term Growth Strategy and Investments, While Navigating Increased Spending Headwinds in School-Based Businesses in Fourth Quarter Returned Over $181 Million to Shareholders and Advanced 360-Degree Content Strategy with Addition of 9 Story Media Group in Fiscal 2024 Targeting Modest Growth in Fiscal 2025, With Continued Investment in Growth Initiatives and Cost Management New York – July 18, 2024 - Scholastic Corporation (NASDAQ: SCHL), t ...

Advanced Long-Term Growth Strategy and Investments, While Navigating Increased Spending Headwinds in School-Based Businesses in Fourth Quarter Returned Over $181 Million to Shareholders and Advanced 360-Degree Content Strategy with Addition of 9 Story Media Group in Fiscal 2024 Targeting Modest Growth in Fiscal 2025, With Continued Investment in Growth Initiatives and Cost Management NEW YORK, July 18, 2024 /PRNewswire/ -- Scholastic Corporation (NASDAQ: SCHL), the global children's publishing, education an ...

NEW YORK and TORONTO, June 21, 2024 /PRNewswire/ -- Scholastic (NASDAQ: SCHL), the global children's publishing, education and media company, today announced that it has closed its previously announced definitive agreement to invest in 9 Story Media Group ("9 Story"), a leading independent creator, producer and distributor of premium children's content, after receiving a satisfactory opinion from the Minister of Canadian Heritage with respect to the transaction, in addition to satisfying customary closing c ...

Research from the Scholastic Reading for Life whitepaper shows that stories are a powerful mechanism for building resilience and helping young people develop empathy and cultivate emotional intelligence. Further, the Scholastic Kids and Family Reading Report™ found evidence of a positive connection between a child's reading frequency and their feelings of well-being: frequent readers were more likely than infrequent readers to report feeling proud (62 percent vs. 32 percent) and excited (59 percent vs. 46 p ...

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 29, 2024 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 2024 Earnings Conference Call March 21, 2024 4:30 PM ET Company Participants Jeffrey Mathews - Investor Relations Peter Warwick - President and Chief Executive Officer Haji Glover - Chief Financial Officer and Executive Vice President Conference Call Participants Brendan McCarthy - Sidoti Operator Good day. Thank you for standing by. Welcome to the Scholastic reports Q3 Fiscal Year 2024 Results Conference Call. [Operator Instructions] Please be advised that today’s co ...

Financial Performance - Revenues for the third quarter were approximately $323.7 million, a slight decrease of $1.2 million from $324.9 million in the prior year[1][8] - Year-to-date revenues decreased by 5% to $1,114.8 million, primarily due to headwinds in the retail market and strategic repositioning of Book Clubs[1][20] - Revenues for the three months ended February 29, 2024, were $323.7 million, a decrease of 0.4% compared to $324.9 million for the same period last year[28] - Total revenues for the Children's Book Publishing and Distribution segment decreased by 5% to $193.6 million for the three months ended February 29, 2024, from $204.0 million in the same period last year[31] - The Education Solutions segment reported revenues of $68.5 million, down 2% from $70.0 million in the same period last year[31] - International revenues increased by 16% or $8.2 million, driven by improved trade channel revenues in Canada and the UK[1][13] - International segment revenues increased by 16% to $59.1 million for the three months ended February 29, 2024, compared to $50.9 million in the same period last year[31] Operating Loss and Income - Operating loss increased by 26% to $34.9 million, compared to $27.7 million a year ago, reflecting higher spending on growth initiatives[1][9] - Operating income for the three months ended February 29, 2024, was a loss of $34.9 million, compared to a loss of $27.7 million in the same period last year, representing a decline of 26%[31] - The company reported a significant increase in overhead costs, with a loss of $(81.4) million for the three months ended February 29, 2024, compared to a gain of $5.9 million for the same period last year[40] - Operating loss for the three months ended February 29, 2024, was $(32.7) million, compared to an operating income of $10.6 million for the same period last year[40] Net Income and Earnings Per Share - Diluted earnings per share for the third quarter were $(0.91), a decrease of 60% from $(0.57) in the prior year[1][5] - Net income for the three months ended February 29, 2024, was a loss of $26.5 million, compared to a loss of $19.3 million for the same period last year, indicating a worsening of 37%[28] - The company reported basic and diluted earnings per share of $(0.91) for the three months ended February 29, 2024, compared to $(0.57) for the same period last year[28] - For the three months ended February 29, 2024, the diluted loss per share was $(0.80), compared to earnings of $0.26 for the same period last year[40] - The net loss for the three months ended February 29, 2024, was $(23.8) million, compared to net income of $7.9 million for the same period last year[40] - The company reported a net loss of $(31.1) million for the nine months ended February 29, 2024, compared to net income of $16.8 million for the same period last year[44] Cash Flow and Shareholder Returns - Free cash flow use was $7.1 million, an improvement of 40% compared to $11.9 million in the prior period[1][18] - Free cash flow for the three months ended February 29, 2024, was a use of $7.1 million, an improvement from a use of $11.9 million in the same period last year[34] - The company returned over $60 million to shareholders through repurchases and dividends in the third quarter[1][2] - The company has authorized an additional $54.6 million for stock repurchases, increasing the total authorization to $100 million[1][19] Costs and Investments - The company recognized pretax costs of $3.0 million related to its planned investment in 9 Story Media Group during the three months ended February 29, 2024[28] - The company recognized a pretax cost of $3.0 million associated with its planned investment in 9 Story Media Group during the three months ended February 29, 2024[41] - The company incurred pretax severance costs of $0.8 million related to restructuring initiatives during the three months ended February 29, 2024[42] - For the nine months ended February 29, 2024, the adjusted EBITDA was $46.2 million, down from $81.3 million for the same period last year[44] - Adjusted EBITDA for the three months ended February 29, 2024, was $(7.2) million, compared to $(5.4) million for the same period last year[44] Cash and Equivalents - Cash and cash equivalents decreased to $110.4 million as of February 29, 2024, from $198.8 million a year earlier[34]