John Wiley & Sons(WLY)
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John Wiley & Sons(WLY) - 2024 Q1 - Quarterly Report
2023-09-08 17:08
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended July 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_____ to _____ Commission File No. 001-11507 JOHN WILEY & SONS, INC. (Exact name of Registrant as specified in its charter) Former name, former address and former fiscal y ...
John Wiley & Sons(WLY) - 2024 Q1 - Earnings Call Transcript
2023-09-07 20:41
Financial Data and Key Metrics Changes - Adjusted revenue decreased by 8% year-over-year, primarily due to the Hindawi publishing pause, which impacted Q1 revenue by $19 million [9][14] - GAAP EPS reported a loss of $1.67, reflecting $103 million in impairment charges related to held-for-sale assets [14] - Adjusted EPS declined by 37% due to higher interest expenses and lower EBITDA [15] - Free cash flow for the quarter was a use of $106 million, an improvement from $114 million in the prior year [37] Business Line Data and Key Metrics Changes - Research Publishing revenue declined by 8%, but excluding Hindawi, it saw slight growth driven by strong double-digit growth in Gold Open Access [13][30] - The Learning segment experienced an 18% decline in Academic Publishing revenue, while Professional Publishing remained flat [33] - zyBooks courseware recorded a 37% growth, indicating strong demand in digital courseware [34] - Adjusted EBITDA for Learning increased by 19%, with a margin of 19.4%, up from 14.9% in the prior year [36] Market Data and Key Metrics Changes - Over 80% of Wiley's revenue is now digital, with 50% being recurring [8] - Gold Open Access revenue increased by 36% this quarter, indicating a strong growth area within Research Publishing [19] - Article submissions in Research are up 4% year-over-year, with article output increasing by 2% [18] Company Strategy and Development Direction - The company is focusing on divesting non-core assets to enhance shareholder value and streamline operations [5][27] - Wiley has reorganized into two operating segments: Research and Learning, to better align its business strategy [22] - The company aims to improve operational efficiency and drive cost synergies through a simplified structure [39] Management's Comments on Operating Environment and Future Outlook - Management views fiscal '24 as a transition year, with expectations for performance gains and margin acceleration in fiscal '25 and '26 [47] - The Research market remains robust, with increasing global R&D spend driving higher research output [16] - Management anticipates a return to growth in Research Publishing, particularly in the second half of the fiscal year [41] Other Important Information - The company has raised its dividend for the 30th consecutive year, with a current yield of around 4% [38] - The company is executing a three-part program to unlock shareholder value, focusing on core strengths, divesting non-core businesses, and streamlining operations [27] Q&A Session Summary Question: Update on Research and Gold OA percentage of revenue - Management indicated that Gold Open Access now represents around 10% of Research revenue, with overall Open Access at approximately 27-28% [51] Question: Clarification on Hindawi's impact - Hindawi's impact was clarified as a loss of $18 million in the current quarter, with expectations for revenue to decline from $55 million to $20 million for the full year [54][56] Question: Academic segment performance and digital vs print mix - The Academic segment is seeing print represent about 40% of the business, with digital close to 50%, and management expects continued migration from print to digital [60] Question: Outlook for Professional segment - The Professional segment is expected to contribute modest growth, with strong profitability characteristics, particularly in team development [63] Question: Preview of Investor Day strategy - Management emphasized a focus on operational excellence and simplicity, with no major new growth areas expected, but rather leveraging existing strengths [65][66]
John Wiley & Sons(WLY) - 2024 Q1 - Earnings Call Presentation
2023-09-07 16:32
WILEY First Quarter Fiscal 2024 Earnings Review September 7, 2023 SAFE HARBOR STATEMENT This presentation contains certain forward-looking statements concerning the Company's operations, performance, and financial condition. Reliance should not be placed on forward-looking statements, as actual results may differ materially from those in any forward-looking statements. Any such forward- looking statements are based upon many assumptions and estimates that are inherently subject to uncertainties and continge ...
John Wiley & Sons(WLY) - 2023 Q4 - Annual Report
2023-06-26 16:29
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, DC 20549 FORM 10-K (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: April 30, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission file number 001-11507 JOHN WILEY & SONS, INC. (Exact name of Registrant as specified in its charter) Indicate by check mark if the re ...
John Wiley & Sons(WLY) - 2023 Q4 - Earnings Call Presentation
2023-06-15 17:35
Fiscal Year 2023 Performance - Wiley's full-year revenue remained flat at $2.02 billion[6] - GAAP EPS decreased to $0.31 due to impairment and restructuring charges[6,7] - Adjusted EPS decreased by 8% to $3.84[6] - Adjusted EBITDA decreased by 2% to $422 million[6] - Free cash flow decreased by $50 million to $173 million[6] Portfolio Actions - Wiley is divesting University Services, Wiley Edge, and CrossKnowledge[5,20] - Divested test prep and Advancement Courses in Q4[5] - These divested businesses generated $393 million in revenue (19% of Wiley's revenue) and $43 million in Adjusted EBITDA (10% of Wiley's Adjusted EBITDA) in Fiscal 2023[20,33] - The go-forward businesses (Research and Learning) generated $1.627 billion in revenue and $379 million in Adjusted EBITDA in Fiscal 2023[20] Fiscal Year 2024 Outlook (Excluding Divestitures) - Adjusted revenue is projected to be between $1.58 billion and $1.63 billion[32] - Research revenue is expected to be flat (+3% excluding Hindawi)[32] - Learning revenue is expected to decline in the low single digits[32] - Adjusted EBITDA is projected to be between $305 million and $330 million[32] - Adjusted EPS is projected to be between $2.05 and $2.40[32]
John Wiley & Sons(WLY) - 2023 Q4 - Earnings Call Transcript
2023-06-15 17:35
John Wiley & Sons, Inc. (NYSE:WLY) Q4 2023 Earnings Conference Call June 15, 2023 10:00 AM ET Company Participants Brian Campbell - VP, IR Brian Napack - President & CEO Christina Van Tassell - EVP & CFO Conference Call Participants Daniel Moore - CJS Securities Operator Good morning, and welcome to Wiley's Q4 Fiscal 2023 Earnings Call. As a reminder, this conference is being recorded. At this time, I'd like to introduce Wiley's Vice President of Investor Relations, Brian Campbell. Please go ahead. Brian Ca ...
John Wiley & Sons(WLY) - 2023 Q3 - Quarterly Report
2023-03-10 18:03
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended January 31, 2023 OR o TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_____ to _____ Commission File No. 001-11507 JOHN WILEY & SONS, INC. (Exact name of Registrant as specified in its charter) | New York | 13-5593032 | | --- | --- | | (S ...
John Wiley & Sons(WLY) - 2023 Q3 - Earnings Call Presentation
2023-03-09 16:21
WILEY ENABLING DISCOVERY | POWERING EDUCATION | SHAPING WORKFORCES | --- | --- | --- | --- | |-------|-----------------|-------|-------| | | | | | | | | | | | | | | | | | Third Quarter | | | | | | | | | | | | | | | | | | | | Fiscal 2023 | | | | | | | | | | | | | | | | | | | | Earnings Review | | | March 9, 2023 SAFE HARBOR STATEMENT This presentation contains certain forward-looking statements concerning the Company's operations, performance, and financial condition. Reliance should not be placed on forward ...
John Wiley & Sons(WLY) - 2023 Q2 - Quarterly Report
2022-12-09 20:01
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q x QUARTERLY REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended October 31, 2022 OR o TRANSITION REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Not Applicable Former name, former address and former fiscal year, if changed since last report Securities registered pursuant to Section 12(b) of the Act: | Title of each class | Trading Symbol | N ...
John Wiley & Sons(WLY) - 2023 Q2 - Earnings Call Transcript
2022-12-07 16:59
John Wiley & Sons, Inc. (NYSE:WLY) Q2 2023 Earnings Conference Call December 7, 2022 10:00 AM ET Company Participants Brian Campbell – VP, IR Brian Napack – President and CEO Christina Van Tassell – EVP and CFO Conference Call Participants Peter Lukas – CJS Securities Operator Good morning and welcome to Wiley’s Q2 Fiscal 2023 Earnings Call. As a reminder this conference is being recorded. At this time, I would like to introduce Wiley’s Vice President of Investor Relations, Brian Campbell. Please go ahead. ...