On Thursday Scholastic announced earnings for their fiscal third quarter ending February 28, with sales down from last year, resulting in a lowered outlook and a falling stock price. They now expect full year sales growth of 4 percent rather than the previously expected 8 to 10 percent, and adjusted EBITDA of $175 million to […]
Publishers
Bloomsbury Expects to Finish Fiscal Year with Better Results Than Forecast
Bloomsbury released a brief trading update for the year ended February 28, with expected sales of more than £260 million, above their previous expectation of £242.6 million, and profit before taxation and highlighted items of £30 million (compared to a forecast of £26.9 million). At the six-month mark, the company had reported their highest-ever sales […]
Wiley Reorganizes Education Reporting, Takes Impairment Charge and Reduces Guidance, As Quarter Is “Below Expectations”
Wiley reported third quarter earnings for the period ended January 31, with sales down 5 percent to $491 million. They showed an operating loss — of ($67.1) million — compared to profit of $46 million last year, mostly due to a non-cash goodwill impairment charge of $100 million. Adjusted EBITDA fell 2 percent (or 3 […]
Pearson Restructures Higher Ed Sales, Keeps Australia and Canada Businesses
Pearson released preliminary results for 2022, reporting sales of £3.84 billion, up 12 percent from the previous year (helped considerably by the strong dollar and weak British pound, so up 5 percent on an underlying basis). Operating profit was £271 million, compared to £183 in 2021. The results put in relief how little of a […]
Bonnier Books Gains After Record Year
Bonnier released their 2022 earnings, reporting sales at the Bonnier Books division of SEK 7.4 billion ($736 million), growing 13.7 percent over their record 2021 results. EBITDA was SEK 385 million, down from SEK 573 million last year, as “margins were squeezed by, among other things, rising paper prices.” Audio subscription service BookBeat grew to […]
For the Record: Paramount Still Selling S&S
While Paramount Global did not mention their book publishing division during their investor call on Thursday, the 10-K filed with the SEC later in the day officially reaffirms yet again their plans to sell: “Simon & Schuster remains a noncore asset as it does not fit strategically within our video-based portfolio. We expect to enter […]