John Wiley & Sons(US:WLY)2023-06-15 17:35Fiscal 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]