Scholastic Q4 operating income up 40%; FY2023 meets guidance; buyback boosted $100M

SCHOLASTIC CORP

2023-FY EPS reported $2.49 revenue$1,704,000,000

Q4 rev $528.3M (+3% YoY); op income $92.0M (+40%); adj EBITDA $115.0M (+30%).
FY2023 rev $1.704B (+4%); op income $106.3M (+9%); adj EBITDA $196.3M (+4%) — met/beat revised guidance.
FY2024 guidance: rev growth 3-5%; adj EBITDA $190-200M (excl $7-10M restructuring charges).
Board authorized $100M additional share repurchase; returned $161M to shareholders in FY2023.
Book Fairs rev +12%; Education Solutions op income +20%; International rev down 8% (ex-FX & disposal, +3%).

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 0.9

SCHOLASTIC CORP reported financial results for the Company’s fiscal fourth quarter and full year ended May 31, 2023.

Period: the Company’s fiscal fourth quarter and full year ended May 31, 2023
Result: reported results

Exact text from the filing

Scholastic Corporation (NASDAQ: SCHL), the global children’s publishing, education and media company, today reported financial results for the Company’s fiscal fourth quarter and full year ended May 31, 2023.

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SCHOLASTIC CORP reported financial results for the fiscal year ended May 31, 2023.

Period: the fiscal year ended May 31, 2023
Result: reported results

Exact text from the filing

On July 20, 2023, Scholastic Corporation (the "Company") issued the press release attached hereto as Exhibit 99.1 announcing its results of operations for the fiscal year ended May 31, 2023.

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Source: SEC EDGAR

accession 0000866729-23-000016

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