McGraw Hill reported results for their fiscal third quarter ended December 31, 2020, with sales of $363 million, compared to $365 million the previous period. Improvements in higher ed and K-12 were not enough to offset declining sales in the international and global professional businesses. Earnings improved, as adjusted EBITDA registered $565,000, compared to a loss of $(24) million, while net income was $18 million compared to a loss of $(40) million. Operating and administration expenses were substantially reduced, to $198 million compared to $255 million last year. About half of the savings were attributed to “strategic headcount reductions,” Covid-related […]
