The following is a summary of the Scholastic Corporation (SCHL) Q3 2024 Earnings Call Transcript:
Financial Performance:
Scholastic Corporation's Q3 revenues totaled $323.7 million, a slight decrease from the previous year.
The adjusted operating loss increased to $30.6 million from $27.7 million due to higher operating expenses.
Adjusted net loss was $23.3 million, up from $19.2 million.
International segment revenues increased by 16% to $59.1 million, powered by the recovery in UK, Canada, and Asian markets.
The company returned over $60 million to shareholders and reduced shares outstanding to less than 28 million, showing confidence in the long-term outlook.
Business Progress:
Scholastic Corporation is executing a 360-degree strategy, transforming book series such as Goosebumps into screen content.
They assigned a new CFO and welcomed two new directors to the board of directors.
The acquisition of 9 Story elevated their long-term potential.
Despite slight declines, the School Reading Events and Education Solutions divisions are initiating strategic transitions to improve profitability.
The Book Fair division maintained its pace and is expected to reach 90% of pre-pandemic levels.
More details: Scholastic Corp IR
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.