secwatch.observer — SEC 8-K summary
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Issuer:     SCHOLASTIC CORP (SCHL)
CIK:        0000866729
Form:       8-K
Filed at:   2024-03-21T23:59:59+00:00
Accession:  0000866729-24-000006
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/866729/000086672924000006/0000866729-24-000006-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/866729/000086672924000006/schl-20240321.htm
  HTML page:      https://secwatch.observer/filing/0000866729-24-000006

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