Wiley Q2 revenue $515M (-3% YoY); lowers FY23 revenue guidance on consumer/enrollment headwinds

JOHN WILEY & SONS, INC.

2023-Q2 EPS reported $0.36 revenue$1,002,405,000

GAAP EPS $0.68 (-31% YoY); Adjusted EPS $1.20 (-13% at cc).
Revenue fell 3% as reported; constant-currency revenue up 1%. Academic & Professional Learning segment declined 10% cc.
FY23 revenue guidance reduced to $2.11B-$2.15B (from $2.175B-$2.215B); reaffirms Adj. EBITDA $425M-$450M and FCF $210M-$235M.
Adjusted EPS trending to lower end of $3.70-$4.05 range due to rising interest expense.
Restructuring charge of $14M ($0.19/share) for workforce and real estate actions.

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 1.0

JOHN WILEY & SONS, INC. reported second quarter ended October 31, 2022 results: revenue $515 million, EPS $0.68. Guidance lowered.

Period: second quarter ended October 31, 2022
Revenue: $515 million
EPS: $0.68
Guidance: lowered
Result: reported results

Exact text from the filing

Wiley Reports Second Quarter Fiscal Year 2023 Results December 7, 2022 - Hoboken, NJ – Wiley (NYSE: WLY), one of the world's largest publishers and a global leader in scientific research and career-connected education, today announced results for the second quarter ended October 31, 2022. • GAAP Results : Revenue of $515 million (-3% vs. prior year), Operating Income of $57 million (-22% vs. prior year), and EPS of $0.68 (-31% vs. prior year) • Adjusted Results at constant currency : Revenue of $515 million (+1% vs. prior year), Adjusted EBITDA of $124 million (-4% vs. prior year), and Adjusted EPS of $1.20 (-13% vs. prior year) • Fiscal 2023 Outlook: Wiley is lowering its revenue outlook at constant currency due to consumer spending and enrollment headwinds in Academic & Professional Learning. Reaffirms full year outlook for Adjusted EBITDA and Free Cash Flow; Adjusted EPS trending to lower end of range mainly due to rising interest expense

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