Scholastic Q1 operating loss widens to $99.1M; revenue down 13% to $228.5M

SCHOLASTIC CORP

2024-Q1 EPS reported -$2.35 revenue$228,500,000

Revenues fell 13% to $228.5M; operating loss expanded 71% to $99.1M, including $6.3M one-time charges.
Children's Book Publishing & Distribution segment revenue dropped 18% to $102.8M; Trade revenue down 19% to $72.9M.
Education Solutions revenue down 10% to $66.0M; segment operating loss widened to $18.7M from $4.3M.
Adjusted EBITDA loss of $70.6M vs. $35.6M loss a year ago; free cash use improved to $57.8M from $76.5M.
Company affirms fiscal 2024 guidance; repurchased 818k shares for $36.2M, paid $6.5M dividends.

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 0.98

SCHOLASTIC CORP reported fiscal first quarter ended August 31, 2023 results: revenue $228.5 million. Guidance reaffirmed.

Period: fiscal first quarter ended August 31, 2023
Revenue: $228.5 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

* $ (91.7) $ (57.9) $ (33.8) (58) % Adjusted EBITDA * $ (70.6) $ (35.6) $ (35.0) (98) % * Please refer to the non-GAAP financial tables attached Revenues decreased 13% to $228.5 million, partly reflecting continued retail softness, which impacted Trade sales in the U.S. and major international markets, as well as the timing and seasonality of sales in Education

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Source: SEC EDGAR

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