Scholastic posts Q3 loss of $0.91/share; revenue flat; announces 9 Story Media investment

SCHOLASTIC CORP

2024-Q3 EPS reported -$0.80 revenue$1,114,800,000

Q3 revenue $323.7M (flat YoY); operating loss $34.9M vs $27.7M loss; diluted EPS -$0.91 vs -$0.57.
Consolidated Trade sales up 7% to $77.6M; Book Clubs revenue down 52% to $13.3M due to strategic repositioning.
Agreed to invest in 9 Story Media Group, acquiring 100% economic interest to expand children's media IP.
Returned ~$60M to shareholders via $6.1M dividends and $54.2M share repurchases; board added $54.6M buyback authorization.
Affirmed revised FY2024 guidance; adjusted EBITDA loss $7.2M vs $5.4M loss in prior year.

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