Scholastic Q2 revenue up 12% to $587.9M; Book Fairs surge; repurchase authorization raised to $75M

SCHOLASTIC CORP

2023-Q2 EPS reported $0.84 revenue$850,800,000

Revenue $587.9M (+12% YoY); operating income $100.1M (+20%); adjusted EBITDA $122.3M (+14%).
Children's Books segment revenue $418.3M, up $65.8M; Book Fairs revenue $240.8M, fair count at 85% of pre-pandemic.
Education Solutions revenue $80.0M flat; operating income down $8.6M on strategic investments.
Share repurchase authorization increased to $75M; YTD repurchases $31.1M, including Dutch tender.
FY 2023 guidance affirmed: adjusted EBITDA $195M-$205M, revenue growth 8%-10%.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SCHOLASTIC CORP reported quarter ended November 30, 2022 results: revenue $587.9 million. Guidance reaffirmed.

Period: quarter ended November 30, 2022
Revenue: $587.9 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

ex. one-times * $ 100.9 $ 83.8 $ 17.1 20 % Adjusted EBITDA * $ 122.3 $ 107.5 $ 14.8 14 % * Please refer to the non-GAAP financial tables attached Revenues increased 12% to $587.9 million, primarily driven by strong results in the Children’s Book Publishing and Distribution segment. The Company’s school-based book channels, in particular Book Fairs, rose

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Source: SEC EDGAR

accession 0000866729-22-000027

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