secwatch.observer — SEC 8-K summary
======================================

Issuer:     SCHOLASTIC CORP (SCHL)
CIK:        0000866729
Form:       8-K
Filed at:   2023-03-23T23:59:59+00:00
Accession:  0000866729-23-000006
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

- 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.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/866729/000086672923000006/0000866729-23-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/866729/000086672923000006/schl-20230323.htm
  HTML page:      https://secwatch.observer/filing/0000866729-23-000006

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer