Financial Performance - Fiscal 2024 Q4 revenues decreased by 10% to $474.9 million, primarily due to lower U.S. Book Club revenues and decreased sales in Education Solutions[7] - Operating income for Q4 fell 49% to $47.2 million, with Adjusted EBITDA decreasing 21% to $90.7 million, reflecting lower revenues and consistent operating expenses[8] - Fiscal 2024 full-year revenues decreased by 7% to $1,589.7 million, impacted by lower sales in the Children's Books segment and softness in Education Solutions[19] - Revenues for the three months ended May 31, 2024, were $474.9 million, a decrease of 10% from $528.3 million in the same period last year[33] - Operating income for the three months ended May 31, 2024, was $47.2 million, down 49% from $92.0 million in the prior year[33] - Net income attributable to Scholastic Corporation for the three months ended May 31, 2024, was $35.9 million, compared to $75.7 million in the same period last year, representing a decline of 53%[33] - Total revenues for the Children's Book Publishing and Distribution segment decreased by 9% to $266.0 million for the three months ended May 31, 2024, compared to $291.0 million in the prior year[38] - The Education Solutions segment reported revenues of $135.7 million for the three months ended May 31, 2024, a decrease of 17% from $163.4 million in the same period last year[38] - The Children's Book Publishing and Distribution segment generated revenues of $955.2 million for the twelve months ended May 31, 2024, compared to $1,038.0 million in the previous year, a decrease of 8.0%[53] - The Education Solutions segment reported revenues of $351.2 million for the twelve months ended May 31, 2024, down from $386.6 million, a decline of 9.1%[53] Shareholder Returns - The company returned over $181 million to shareholders in fiscal 2024, including $24.7 million in dividends and $156.8 million in share repurchases[23] Future Outlook - For fiscal 2025, the company expects revenue growth of 4% to 6% and targets Adjusted EBITDA of $140 to $150 million, partially offset by ongoing spending pressures[6] - The addition of 9 Story Media Group is expected to enhance Scholastic's production and distribution capabilities in the new Entertainment segment starting in fiscal 2025[3] - The company plans to continue investing in growth initiatives while managing operating expenses amid external pressures on consumer spending[5] Cash Flow and Equity - Cash and cash equivalents decreased to $113.7 million as of May 31, 2024, down from $224.5 million a year earlier[40] - Free cash flow for the three months ended May 31, 2024, was $49.7 million, compared to $85.7 million in the same period last year[40] - The total stockholders' equity decreased to $1,018.1 million as of May 31, 2024, from $1,164.5 million a year earlier[40] Earnings and Costs - The Company reported a basic earnings per share of $1.26 for the three months ended May 31, 2024, down from $2.33 in the prior year[33] - For the three months ended May 31, 2024, diluted earnings per share were $0.40, down from $0.76 in the same period last year, representing a decrease of 47.4%[46] - Net income for the three months ended May 31, 2024, was $12.1 million, compared to $22.5 million for the same period in 2023, a decline of 46.2%[46] - Adjusted EBITDA for the three months ended May 31, 2024, was $90.7 million, down from $115.0 million in the prior year, reflecting a decrease of 21.1%[51] Restructuring and Investments - The Company recognized pretax costs related to its planned investment in 9 Story Media Group of $6.3 million for the three months ended May 31, 2024[33] - The company recognized pretax costs related to restructuring and cost-savings initiatives of $1.5 million and $2.7 million for the three and twelve months ended May 31, 2024, respectively[48] - The company plans to invest $6.3 million and $9.3 million in 9 Story Media Group for the three and twelve months ended May 31, 2024, respectively[47] - The company reported a one-time benefit of $5.0 million and $7.7 million for income taxes in respect to one-time pretax items for the three and twelve months ended May 31, 2024[47] Segment Performance - Adjusted segment operating income for Education Solutions was $35.6 million, down from $55.0 million in the prior period, primarily due to decreased revenues[14] - The International segment experienced a loss before income taxes of $8.3 million for the twelve months ended May 31, 2024, compared to a loss of $4.0 million in the previous year[53] - The company will recategorize Scholastic Entertainment Inc. into a new Entertainment segment beginning in fiscal 2025, with SEI contributing revenues of $1.9 million for the twelve months ended May 31, 2024[54]

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]

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, 2023 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) Q2 2024 Earnings Conference Call December 14, 2023 4:30 PM ET Company Participants Jeffrey Mathews - EVP, Corporate Development and IR Peter Warwick - President and CEO Ken Cleary - CFO and Acting President Conference Call Participants Brendan McCarthy - Sidoti Operator Good day and thank you for standing by. Welcome to the Scholastic Corporation Fiscal 2024 Second Quarter Earnings Call. [Operator Instructions] Please be advised that today's conference is being recorded. ...

Second Quarter 2024 Earnings Call Presentation INSULATION PRODUCTION THE LAST AND ANDRANT PRO Forward-Looking Statements / Regulation G 2 Thursday, December 14, 2023 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. Today's comments include references to certain non-GAAP financial measures as define ...