After what HarperCollins CEO Brian Murray had called “a tough quarter, and a tough year,” the publisher has begun a turnaround in results. Fiscal first quarter sales were $525 million, up $38 million from $487 million a year ago (but still behind the $546 million they recorded in 2021). Margins rebounded as well, with EBITDA of $65 million — similarly up from $39 million a year ago, but still behind $85 million in 2021. The company cited “lower manufacturing costs, primarily due to product mix, and lower freight and distribution costs as supply chain challenges and inventory and inflationary pressures […]
Earnings Reports
Indigo’s Q2 Falls Below Last Year’s Strong Result
Indigo released results for the second quarter of their fiscal year, ended September 30, reporting $207 million in sales, down 12 percent from the previous year, and a loss in adjusted EBITDA of $(13.8) million, compared to $(10.6) million. Net loss during the quarter was $(22.4) million, compared to a net loss of $(15.9) million in the previous year. The company cites consumer “price sensitivity” as a reason for the drop—because people came out for discounts during promotional events—and a stark comparison to last year, which was the highest ever in merchandise sales. The company also launched their new ecommerce […]
WH Smith High Street Sales Fall Slightly
WH Smith announced preliminary results for the year, ended August 31, with sales up 28 percent to £1.79 billion. Trading profit, driven by the Travel division, was up £74 million to £164 million, and group profit before tax was £110 million, compared to £63 million in 2022 High street sales were £469 million, down from £473 million, with trading profit falling £2 million to £43 million, “in line with expectations.” The company closed 13 High Street stores in the period, bringing their total to 514. They say they are focused on efficiency and cost management, with savings of £15 million […]
Bertelsmann Sales Down Slightly in Q3
Bertelsmann briefly announced results a third quarter sales update, with revenues of €4.9 billion ($4.9 billion), compared to €5.1 billion in the same quarter last year. The company expects a “moderate” increase in full-year sales with a stable operating profit and a slight decline in EBITDA, following the sale of their shares in Majorel. As usual, there are very few divisional specifics. Looking at the first nine months together, they highlight Penguin Random House’s success from early in the year, with Prince Harry’s SPARE still their top-selling title. The only third quarter releases mentioned are picture books. “Despite an overall […]
Simon & Schuster Sales Fall From Peak, “But We’re Still Flying High”
Simon & Schuster released public results for the last time as a unit of Paramount Global, covering their third quarter. The publisher’s remarkable streak of increased (or flat, as of the last report) sales came to an end, with revenue of $307 million — down $46 million (or 13 percent) from the same period a year ago. (That’s also below sales of $321 million in Q3 2021.) Operating income was down sharply as well, though still a robust margin, at $60 million, compared to $93 million a year ago.) The last time the publisher reported a sales decline was back […]
Storytel Makes An Operating Profit
Swedish audiobook distributor Storytel released results for the third quarter ended September 30, with sales of SEK 842.4 million ($77.9 million), up 13 percent over last year. For the first time since 2016, the company made an operating profit—of SEK 15 million—driven largely by growth in the Nordic streaming business. EBITDA was up 55 percent to SEK 92 million, which the company attributes to “cost efficiency measures.” In Nordic countries, streaming sales were SEK 571.6 million, up from SEK 492.8 million last year. In non-Nordic territories, sales were SEK 270.8 million, up from SEK 249.7 million. Print publishing sales were […]