Publishers

Lagardere announced results for the first quarter of 2023, with publishing sales of €570 million, up 3 percent as reported and 1 percent on a like-for-like basis from last year. “In a less dynamic market, Lagardère Publishing maintained strong trading momentum. The difference between reported and like-for-like revenue is primarily attributable to a €12 million positive scope effect linked chiefly to the acquisition of Welbeck Publishing Group and Paperblanks,” the company said in a statement. US sales were less successful, down 11 percent due to “a lighter publication schedule compared to 2022 and in a sluggish book market.” Hachette Book […]

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 $185 million, down from a forecast of $195 million to $205 million. The stock fell sharply, down over 20 percent in the first hour of trading on Friday, on the reduced expectations. Sales for the quarter, which president and ceo Peter Warwick was quick to […]

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 and profits at that point, and strong sales continued through the fiscal year. CEO Nigel Newton said, “Bloomsbury’s unique position in combining consumer and academic publishing combined with our investment in high quality content and company acquisitions has enabled us to achieve excellent trading for […]

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 percent at constant currency) to $97.7 million. Following the challenging quarter they also reduced their outlook for the fiscal year, “primarily due to increased academic market headwind.” Sales are expected to be $45 million to $55 million lower than forecast, and adjusted EBITDA is expected […]

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 “publishing company” Pearson has become (and should be of note to all of the list-makers and rankers). Higher Education sales were £898 million, up from £849 million a year ago but actually down 4 percent on an underlying basis, “driven by a decline in enrollments […]

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 more than 700,000 subscribers. CEO Erik Haegerstrand said, “We can be quite satisfied with the financial results for 2022. The financial results for 2022 exemplified the advantage and security of having diversified operations, which reported relatively stable earnings overall. But our growth and earnings must […]