Scholastic Q3 revenue up 24% to $344.5M; book fairs surge 181%; adjusted operating loss widens

SCHOLASTIC CORP

2022-Q3 EPS reported $0.80 revenue$1,128,500,000

Revenue $344.5M (+24% YoY); operating loss improved to $(19.5)M from $(24.2)M; adjusted operating loss widened to $(16.7)M.
Book Fairs revenue surged 181% to $76.0M; fair count at ~70% of pre-pandemic levels with higher revenue per fair.
Education Solutions revenue +16% to $77.2M, driven by $5.7M from New Worlds Reading Initiative and core instructional sales.
Free cash flow $23.4M vs $5.5M prior year; net cash $295.2M; dividend unchanged at $0.15/share.
Outlook: Q4 peak season for Education Solutions; expects cost pressures from inflation, logistics, fuel; share repurchases ongoing.

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