Publishers

McGraw-Hill reported Q4 earnings and its annual report for 2019, with full-year revenue of $1.571 billion, down from $1.597 billion in 2018. Though the decline moderated this year, it marks the sixth year of falling sales for the company. In 2017, sales had been $1.719 billion. This will be the last time the company’s fiscal year ends December 31. They are revising their fiscal year to end March 31, to “better align with seasonal industry cycles.” After the close of the next quarter, they will issue a revised annual report covering the new fiscal year. They have also changed for […]

Wiley reported earnings for the third quarter ended January 31, with overall sales of $467 million, above analysts’ expectations. Operating income was $48.5 million, down from $50.4 million in last year’s quarter. The company had restructuring charges of $3.3 million, and they raised their guidance for full-year adjusted earnings by 10 cents a share. Thirty minutes after open, the stock was up modestly on the news, trading about 2 percent higher than yesterday’s close. What Wiley calls education publishing showed some improvement, with sales of $101 million, up from $95.6 million last year. (They changed their reporting at the beginning […]

The Bonnier Group released full year 2019 earnings in late February, with Bonnier Books reporting sales of SEK 5.77 billion ($611 million), up from SEK 5.52 billion ($634 million) in 2018. Operating profit (EBITA) improved more, increasing to SEK 250 million from SEK 148 million last year, despite “investments in growth and a declining market for physical book retail in the Nordic countries.” Bonnier Books in Germany had its best results in ten years, and in the UK, the company reported “increased sales and a positive result, following changes that were initiated in 2018,” apparently making good on Bonnier Books […]

Lagardere reported fourth quarter and full-year year results Thursday. For the quarter, sales at Lagardere Publishing were €677 million, up from €645 million. For the year, publishing sales were €2.384 billion, up €132 million from €2.252 billion last year, up 2.8 percent, like for like, and company attributed the growth to “a good performance in Education – particularly in France and Spain, the success of the new Asterix album, and sustained growth in Partworks and Mobile Games.” Annual revenue rose in France, but US sales were down 1 percent for the year, and UK sales were down 1.4 percent. E-books accounted […]

Houghton Mifflin Harcourt reported fourth quarter and full year earnings for 2019, with overall sales for the quarter of $241 million, down $8 million from a year ago, and another big net loss of ($125 million), more than double the loss of ($56 million) last year. The stock traded down 6 percent on the news, to approximately $5.40 a share. In the company’s modest trade business, sales for the quarter were $52.1 million, down from $60.3 million in 2018. For the year, sales of $180 million were down $19.7 million from $199.7 million in 2018 — or 9.9 percent, just […]

Pearson released 2019 preliminary results February 21, with sales decreasing to £3.87 billion from £4.13 billion in 2018. The bigger headline was operating profit, which fell by more than half, to £275 million from £553 million in 2018. Earnings per share fell even more, due to a one-time tax benefit the year before and higher net interest payable. The decline included £159 million in restructuring charges. Pearson’s stock traded fell over 5 percent today on the poor news, down to its lowest level in many years. Pearson had already reduced their 2020 guidance in an understated — and unrealistic — […]