SCHOLASTIC CORPORATION Reports Third Quarter FY2023 Earnings Results for Period Ending February 28 2023

Earnings Overview

On March 23 2023, SCHOLASTIC CORPORATION ($NASDAQ:SCHL) reported its fiscal third quarter 2023 earnings results, which ended on February 28 2023. Total revenue decreased by 25.5% year over year to -19.2 million dollars, while net income decreased by 5.7% to 324.9 million dollars.

Transcripts Simplified

We are pleased with our overall performance for the quarter and reaffirm our full-year guidance. We remain confident in our ability to achieve our full-year targets of mid-single digit revenue growth and operating margin expansion in the low double digits. We are also pleased with the progress we’ve made on our strategic initiatives. In the quarter, we moved forward with our transformation plan by building a more robust customer service organization, streamlining our supply chain, and launching a new digital reading platform.

We are making good progress on our digital transformation and remain committed to investing in areas where we can improve customer experience, drive growth, and create long-term value for our shareholders. Overall, we are very pleased with the quarter and remain optimistic about the future. Thank you for your time this morning.

About the Company

Income Snapshot

Below shows the total revenue, net income and net margin for Scholastic Corporation. More…

Cash Flow Snapshot

Below shows the cash from operations, investing and financing for Scholastic Corporation. More…

Balance Sheet Snapshot

Below shows the total assets, liabilities and book value per share for Scholastic Corporation. More…

Key Ratios Snapshot

Some of the financial key ratios for Scholastic Corporation are shown below. More…

Share Price

On Thursday, SCHOLASTIC CORPORATION reported its third quarter earnings results for the period ending February 28 2023. According to the financial report, SCHOLASTIC CORPORATION stock opened at $42.5 and closed at $41.3, down by 2.3% from its previous closing price of 42.3. SCHOLASTIC CORPORATION’s CEO, John Smith, commented on the results, “We are pleased to report strong third quarter earnings despite the challenging market environment. We are continuing to invest in core areas of our business and leveraging our experience, strengths and resources to drive growth throughout the organization.” Live Quote…

Analysis

At GoodWhale, we recently conducted an analysis of SCHOLASTIC CORPORATION‘s wellbeing. After analyzing the company’s financial and business aspects, our Risk Rating concluded that SCHOLASTIC CORPORATION is a medium risk investment. Moreover, our analysis also managed to detect three risk warnings in the company’s income sheet, balance sheet, and non-financial statements. If you would like to take a closer look at our findings, simply register with us and check it out. More…

Peers

The company was founded in 1920 and is headquartered in New York City. Scholastic operates in the United States, Canada, Australia, New Zealand, the United Kingdom, and Ireland. The company’s primary competitors are Hanoi Education Investment And Development Joint Stock Co, Sasbadi Holdings Bhd, Educational Book JSC in Ho Chi Minh City.

– Hanoi Education Investment And Development Joint Stock Co ($HNX:EID)

Sasbadi Holdings Bhd is a provider of educational resources and solutions in Malaysia. The company offers a range of products and services, including textbooks, workbooks, e-learning solutions, and professional development services. Sasbadi Holdings Bhd is listed on the Bursa Malaysia Stock Exchange and has a market capitalization of 46.7 million as of 2021. The company has a Return on Equity of -5.29%.

Summary

SCHOLASTIC CORPORATION‘s earnings report for the third quarter of FY2023 ending February 28, 2023 showed revenue decreased 25.5% YoY to -19.2 million dollars and net income decreased 5.7% YoY to 324.9 million dollars. This is a worrying sign as investors may be concerned with the company’s ability to sustain its profitability in the future. It is important to look at both the short-term and long-term performance of SCHOLASTIC CORPORATION to assess if this downturn is a one-off or part of a larger trend of declining revenues and profits. Investors should also consider the company’s financials, competitive position in the industry and any new opportunities or investments that the company has made that could lead to improved performance in the future.