Publishers

Harper Collins reported a weak end to a difficult fiscal year, with fourth quarter sales of $446 million down $67 million from a year ago, 13 percent lower. EBITDA suffered even more, at just $16 million, compared to $47 million a year ago. $20 million of that gap was due to the calendar — with an additional 14th week included in last year’s quarter. The company also lost some revenue to foreign exchange. Broadly, News Corp. cited “lower book sales due to lower consumer demand industry-wide, [and] weak frontlist performance, which contributed to higher returns.” Earnings fell on a mix […]

Paramount Global also reported second quarter earnings on Monday afternoon, including solid results for Simon & Schuster, which continues to lead in performance among the reporting large trade publishers. Sales were just below flat at $292 million — compared to $293 million in 2022, which was a high comp to meet, since that quarter sales were up 34 percent from $219 million in 2021. Operating income continued to grow further still, at $91 million, up 14 percent from $80 million a year ago. Sales for the first half of the year are up 8 percent over 2022, and operating income […]

Pearson announced interim results for the first half of 2023 ended June 30, with sales of £1.879 billion, up 5 percent from 2022. Operating profit was £219 million, compared to £148 million last year. As far as publishing goes, which is less and less a focus of the company, the Higher Education segment grew 2 percent to £379 million — based on foreign exchange. But it declined 2 percent on an underlying basis as expected due to “a decline in enrollments and loss of adoptions to non-mainstream publishers.” Pearson restructured the sales team last year, which “helped to increase adoption […]

Lagardere reported headline results for their second quarter and detailed results for the first half of the year on Tuesday. “Demonstrating its resilience amid a less buoyant publishing market,” publishing division sales for the quarter were €677 million, up €15 million from a year ago (gaining 2 percent), though recent acquisitions including Welbeck and Paperblanks provided €9 million of that increase. For the first half of the year, sales reached €1.247 billion, up €31 million, gaining 2.5 percent, or 1.6 percent on a like-for-like basis, with €21 million from acquisitions. But recurring EBIT fell by €16 million to €65 million, […]

Scholastic reported fourth quarter and full-year results for the period ended May 31. For the quarter, sales were $528 million, up 3 percent over last year’s record, and operating income rose 40 percent to $92 million. Earnings before tax were up 78 percent to $95.6 million. That put earnings per share at $2.26, well ahead of last year’s $1.46 per share and of analyst expectations of $1.70 per share. With higher earnings, good sales, and a forecast of more sales growth in the year ahead, the publisher’s stock rose approximately 13 percent in the first hour of trading on Friday. […]

Bloomsbury announced a brief trading update for the first quarter ended June 30, reporting a 9 percent increase in sales. The company says that results have been “in line with expectations,” expecting sales of £273 million and profit before taxation and highlighted items of £32.5 million for the year. In the consumer division, Sarah J. Maas, Samantha Shannon, and JK Rowling remained top sellers. In the non-consumer division, there was growth in Bloomsbury Digital Resources, “reflecting the ongoing shift to greater digital learning.” In a release, the company stated, “The Board remains confident in Bloomsbury’s ability to continue to deliver long-term […]