Scholastic's Q2 EPS up 16% to $2.45; cuts FY2024 EBITDA guidance to $165-175M from $190-200M

SCHOLASTIC CORP

2024-Q2 EPS reported $0.09 revenue$791,100,000

Revenue $562.6M (-4% YoY); diluted EPS $2.45 (+16%).
Book Clubs revenue $32.4M (-44% YoY) due to planned reduction in promotional spending.
Adj EBITDA $124.0M (+1% YoY); operating income $101.3M (+1%).
Board approved additional $66.2M share repurchase, increasing total authorization to $100M.
FY2024 guidance cut: revenue flat to slightly down; Adj EBITDA $165-175M vs prior $190-200M.

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 fiscal second quarter ended November 30, 2023 results: revenue $562.6 million, EPS $2.45. Guidance lowered.

Period: fiscal second quarter ended November 30, 2023
Revenue: $562.6 million
EPS: $2.45
Guidance: lowered
Result: reported results

Exact text from the filing

ex. one-time items * $ 2.45 $ 2.12 $ 0.33 16 % Adjusted EBITDA * $ 124.0 $ 122.3 $ 1.7 1 % * Please refer to the non-GAAP financial tables attached Revenues decreased 4% to $562.6 million, primarily as a result of reduced, more targeted promotional spending and the elimination of unprofitable orders in Book Clubs, as the channel is repositioned to a smaller, more

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Source: SEC EDGAR

accession 0000866729-23-000041

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