Scholastic Q3 loss widens; cuts FY23 Adjusted EBITDA guidance to $175-185M

SCHOLASTIC CORP

2023-Q3 EPS reported $0.30 revenue$1,175,700,000

Revenue $324.9M (-6% YoY); operating loss $27.7M vs loss $19.5M prior year.
Book Fairs revenue +$27.5M to $103.5M; Trade -$11.7M; Book Clubs -$12.8M.
Education Solutions revenue -$7.2M to $70.0M as schools delay purchasing.
Adjusted EBITDA loss $5.4M vs gain $5.9M prior year; FY23 guidance cut to $175-185M from $195-205M.
Board authorized additional $50M for share repurchases; $53M returned to shareholders in Q3.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

SCHOLASTIC CORP reported its quarter ended February 28, 2023 results: revenue $324.9 million. Guidance lowered.

Period: its quarter ended February 28, 2023
Revenue: $324.9 million
Guidance: lowered
Result: reported results

Exact text from the filing

* $ (26.2) $ (17.0) $ (9.2) (54) % Adjusted EBITDA * $ (5.4) $ 5.9 $ (11.3) (192) % * Please refer to the non-GAAP financial tables attached Revenues decreased $19.6 million to $324.9 million, partly reflecting softening retail demand for children’s books, which impacted Trade sales in the U.S. and major international markets. Despite these headwinds, the Children’s

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Source: SEC EDGAR

accession 0000866729-23-000006

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