Publishers

Following “decade high” earnings in the first half of the year, Lagardere Publishing said in a release that the division’s “strong sales momentum and product mix” will raise profits “in a more favorable manner than anticipated in the context of the health crisis.” They now expect full-year operating margin of “around 13.5 percent” for the year, up from a previous expectation of 12 percent. For comparison, in 2020 they had operating margin of 10.3 percent, with recurring EBIT of €246 million on sales of €2.384 billion. Through the first nine months of 2021 publishing sales were up 9 percent; if […]

Scholastic reported earnings for the fiscal second quarter ended November 30, with sales of $524 million, rebounding $118 million or 29 percent from a year ago. The gain still leaves them short of pre-COVID levels, with sales of $597.2 in 2019 and $604.7 million in 2018. In-person school book fairs resumed at about 70 percent of pre-pandemic levels and the company said those earnings exceeded expectations, with higher sales of educational materials as well, as students returned to school. The operating profit excluding one-time items was $84 million, up from $54 million last year (2019: $105 million; 2018: $98 million), […]

Wiley reported fiscal second quarter results for the period ended October 31, with sales of $533 million, a 9 percent increase from $491 million last year. Adjusted EBITDA was $127.1 million, up from $120.3 million, or 7 percent. Education Publishing sales of $98.6 million were down from $102.4 million last year, “due to softer US enrollment and some easing of prior-year COVID-related tailwinds in content and courseware.” Professional Learning grew 15 percent after last year’s COVID lockdowns, offsetting the Education Publishing decline for a 3 percent lift in the Academic & Professional Learning division overall. The company’s research division grew […]

News Corp. reported fiscal first quarter sales after the close of the market on Thursday, with HarperCollins showing increases “driven by strong sales and the successful integration of HMH.” Sales were $546 million for the quarter, $88 million higher than a year ago. HMH accounted for $50 million, with adjusted revenue or organic Harper sales up 7.2 percent over last year’s $458 million, helped by $7 million in foreign exchange. (A year ago, HMH recorded sales of $55.7 million in the same quarter, including $4 million in licensing revenue for the Carmen Sandiego series on Netflix.) In the conference call […]

ViacomCBS reported third quarter results on Thursday morning, with publisher Simon & Schuster well exceeding last year’s third quarter, which had set a new record for revenues. This year, third quarter sales hit $321 million, up 15 percent from $279 million in 2020 (which compared to $217 million in 2019, and $240 million in 2018). Operating income grew even more, to $93 million, compared to $56 million in 2020. (“Earnings” from discontinued operations, with is “primarily” S&S, were $94 million, versus $61 million a year ago.) CEO Jonathan Karp said, “It was a stellar quarter in an outstanding year,” with […]

Pearson issued a brief trading update, telling us less than usual since they report on the last nine months but omit any details on the third quarter by itself. Sales are said to be up 10 percent on an “underlying” basis — but after six months, sales were up 17 percent on an “underlying” basis and only 7 percent on an actual, reported basis. Higher ed sales continue to decline — from a low comparison bar — falling 7 percent “as growth in international courseware, including Canada and the UK, was offset by a decline in US Higher Education Courseware.” […]