secwatch.observer — SEC 8-K summary
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Issuer:     SCHOLASTIC CORP (SCHL)
CIK:        0000866729
Form:       8-K
Filed at:   2023-09-21T23:59:59+00:00
Accession:  0000866729-23-000025
Event type: earnings
Sentiment:  negative
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/866729/000086672923000025/0000866729-23-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/866729/000086672923000025/schl-20230921.htm
  HTML page:      https://secwatch.observer/filing/0000866729-23-000025

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