Highlights Revenues of $732.4 million for the quarter ended October 26, 2025; operating earnings of $66.9 million; and net earnings attributable to shareholders of the Corporation of $42.9 million ($0.51 per share).Adjusted operating earnings before depreciation and amortization(1) of $137.6 million for the quarter ended October 26, 2025; adjusted operating earnings(1) of $100.6 million; and adjusted net earnings attributable to shareholders of the Corporation(1) of $68.6 million ($0.82 per share).Revenues ...

Highlights Revenues of $732.4 million for the quarter ended October 26, 2025; operating earnings of $66.9 million; and net earnings attributable to shareholders of the Corporation of $42.9 million ($0.51 per share).Adjusted operating earnings before depreciation and amortization(1) of $137.6 million for the quarter ended October 26, 2025; adjusted operating earnings(1) of $100.6 million; and adjusted net earnings attributable to shareholders of the Corporation(1) of $68.6 million ($0.82 per share).Revenues ...

Divestiture of the Packaging Sector December 8, 2025 In this presentation, unless otherwise indicated, all financial data are prepared in accordance with International Financial Reporting Standards (IFRS) and the term ''dollars'' as well as the symbol ''$'' designate Canadian dollars. In this document, we also use non-IFRS financial measures for which a complete definition is presented below and for which a reconciliation to financial information in accordance with IFRS is presented in slide 16 "Reconciliat ...

Summary of McGraw Hill Conference Call Company Overview - **Company**: McGraw Hill - **Industry**: Educational Publishing - **Evolution**: Transitioned to a digital-oriented business over the last 20 years, with nearly two-thirds of business delivered digitally today, compared to half a decade ago [3][4] Key Highlights - **AI Integration**: McGraw Hill is leveraging AI to enhance personalized learning experiences, reduce administrative burdens on teachers, and drive efficiency in content creation [4][5] - **New Product Launches**: Recently launched an educator assistant and a writing assistant to support K-12 educators, aimed at reducing their administrative workload [6][7] - **Brand Strength**: The trusted brand and intellectual property (IP) of McGraw Hill serve as significant differentiators in a competitive landscape filled with emerging AI-driven educational startups [11][12] Market Share and Growth - **Higher Education Market Share**: Increased from 21% to 30% over the past decade, with a 14% year-over-year growth in the latest quarter [14][15] - **Inclusive Access Model**: This model has grown 30% year-over-year and now accounts for roughly half of the revenue in higher education, allowing students to access materials on day one and increasing sell-through rates to over 98% [19][20] Strategic Initiatives - **Evergreen Product**: A new offering that allows continuous updates to educational content, eliminating the traditional edition cycle and enhancing customer retention [16][18] - **State Adoption Opportunities**: Positioned to capture significant market opportunities in California and Florida for upcoming math and ELA cycles in 2027 and 2028 [30][34] Financial Performance - **Predictable Revenue**: The K-12 business benefits from multi-year contracts, providing visibility and predictability in revenue recognition [50][51] - **Capital Allocation**: Focus on organic growth, debt repayment, and small tuck-in acquisitions to accelerate product development [40][41] Industry Dynamics - **Consolidation Trends**: Scale and data are critical in the educational publishing industry, with expectations of consolidation among smaller edtech startups lacking the necessary scale [44][45] - **Digital Adoption**: While K-5 education remains largely print, there is a significant shift towards digital in higher education, with expectations of reaching 98% digital delivery in the near future [53][54] Conclusion - **Future Outlook**: McGraw Hill is well-positioned for continued growth across all business segments, with a strong focus on innovation and market share expansion [52]

Group 1 - McGraw Hill's IPO in July faced challenges due to concerns over AI and market positioning, leading to a soft public offering and pricing process [1] - Following the IPO, McGraw Hill's shares have rapidly declined, losing approximately 25% of their value [1] Group 2 - The investing group "Value In Corporate Events" focuses on identifying opportunities in IPOs, mergers & acquisitions, earnings reports, and corporate capital allocation changes [1] - The group provides coverage of around 10 major events each month, aiming to find the best investment opportunities [1]

Group 1 - Shares of Scholastic fell 13.6% after reporting weaker-than-expected first-quarter results [1] - The company's performance did not meet market expectations, leading to a significant drop in stock price [1] - The decline in shares reflects investor concerns regarding the company's financial health and future prospects [1]

Group 1 - Educational Development Corporation (EDUC) experienced a significant stock price increase of 46.42% to $2.00 in after-hours trading, following a 7.98% gain during the regular session [1][2] - The surge in stock price is attributed to the upcoming fiscal 2026 second-quarter earnings call scheduled for October 9, where CEO Craig White and CFO Dan O'Keefe will present results and answer questions [2] - EDUC specializes in educational program development and owns brands such as Kane Miller Books, Learning Wrap-Ups, and SmartLab Toys, while also exclusively distributing Usborne books in the U.S. through multi-level marketing channels [2] Group 2 - The stock trades within a 52-week range of $0.92 to $2.49, with a market capitalization of $11.77 million, and has gained 23.05% over the past month [3] - The highest stock price was $2.40 on September 25, 2024, but it has since dropped by 42.92%. From its lowest point of $1.05 on August 20, 2025, it has risen by 30.48%, currently sitting at $1.37. Overall, the stock has lost 32.04% over the past year [3] - Benzinga's Edge Stock Rankings indicate that EDUC is undergoing long-term consolidation while experiencing medium and short-term upward movement [4]

Core Insights - Transcontinental Inc. reported improved adjusted net earnings per share for the third consecutive quarter, reflecting the positive impact of a two-year profitability improvement program [3][5][21] - The company experienced a revenue decrease in the Packaging Sector due to the sale of industrial packaging operations and weaker demand, but adjusted operating earnings margin improved [4][10] - The Retail Services and Printing Sector showed a 4.5% revenue increase, driven by growth in book printing activities and successful acquisitions [5][10] Financial Performance - Revenues for Q3 2025 were $684.4 million, down 2.2% from $700.0 million in Q3 2024 [6][10] - Operating earnings before depreciation and amortization decreased by 10.3% to $109.0 million from $121.5 million year-over-year [11][53] - Adjusted net earnings attributable to shareholders increased by 14.6% to $58.9 million, with adjusted net earnings per share rising 16.7% to $0.70 [14][39] Sector Performance - The Packaging Sector faced revenue declines due to the sale of operations and lower demand, but cost discipline led to improved margins [4][10] - The Retail Services and Printing Sector reported a strong quarter with a 4.5% revenue increase, attributed to growth in book printing and successful acquisitions [5][10] Acquisitions and Growth Strategy - The company made strategic acquisitions, including Middleton Group Inc. for $4.6 million and two additional companies for up to $72.7 million, aimed at enhancing in-store marketing activities [9][10] - Investments in flexible packaging and in-store marketing are expected to drive long-term growth [21][22] Outlook - The company anticipates organic growth in adjusted operating earnings for the Packaging Sector in fiscal 2025, despite weaker demand in Q3 [22][23] - Continued focus on reducing net indebtedness while investing in growth and returning capital to shareholders is part of the strategy moving forward [23][40]

Group 1 - TC Transcontinental announced the acquisition of Middleton Group, enhancing its in-store marketing activities and solidifying its leadership position in Canada [1][2] - Middleton Group, founded in 1952, specializes in retail marketing solutions and employs 65 people, contributing to TC Transcontinental's growth in the ISM sector [2][3] - TC Transcontinental's ISM business has expanded to nearly 1,000 employees and generated over $200 million in revenues for the fiscal year ending October 27, 2024 [2][6] Group 2 - The acquisition is expected to create transformative opportunities for both TC Transcontinental and Middleton Group, focusing on enhancing the in-store customer experience [3] - TC Transcontinental is a leader in flexible packaging and retail services in Canada, with a total revenue of $2.8 billion for the fiscal year ending October 27, 2024 [4][6] - The company emphasizes values such as respect, teamwork, performance, and innovation in its operations [5]

Core Insights - Transcontinental Inc. reported its second quarter results for fiscal year 2025, highlighting the positive impact of profitability improvement initiatives [2][3] - The company experienced a slight decrease in revenues and earnings in the Packaging Sector compared to the previous year, while the Retail Services and Printing Sector showed strong growth [3][4] Financial Performance - Revenues for Q2 2025 were $684.1 million, a marginal increase of 0.1% from $683.2 million in Q2 2024 [5][8] - Operating earnings before depreciation and amortization rose by 17.8% to $104.5 million from $88.7 million in Q2 2024 [5][9] - Net earnings attributable to shareholders increased by 112.6% to $33.8 million ($0.40 per share) compared to $15.9 million ($0.18 per share) in Q2 2024 [5][11] - Adjusted net earnings attributable to shareholders grew by 6.4% to $48.2 million ($0.58 per share) from $45.3 million ($0.52 per share) in the same quarter last year [5][12] Sector Performance - The Packaging Sector saw a slight revenue and earnings decline, attributed to the sale of industrial packaging operations and lower volume, but maintained an adjusted operating earnings margin of 16.2% [3][4] - The Retail Services and Printing Sector reported a 5.1% increase in revenues and a 15.5% rise in adjusted operating earnings to $54.4 million, driven by growth in book printing and specialty solutions [4][5] Debt and Dividends - The company reduced its long-term debt significantly due to strong cash flows and the sale of industrial packaging operations, which also led to lower financial expenses [4] - A special dividend of $1.00 per share was paid during the second quarter, reflecting the company's solid financial position [4][7] Outlook - The company anticipates organic growth in adjusted operating earnings for the Packaging Sector in fiscal 2025 compared to fiscal 2024, while expecting stability in the Retail Services and Printing Sector [19][20] - Continued investments in growth activities, particularly in flexible packaging and in-store marketing, are expected to drive long-term growth [19]