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Aug 31, 2022
Scholastic Q1 2023 Earnings Report
Scholastic reported first quarter results, reflecting strategic investments in Education Solutions and a return to more normal seasonality.
Key Takeaways
Scholastic's first quarter results were on plan, with revenues increasing slightly but operating loss increasing significantly due to lower sales in Education Solutions and higher costs. The company affirmed its full-year guidance for fiscal year 2023.
Revenues increased 1.2% to $262.9 million, driven by higher Book Fairs revenues but offset by lower revenues in Education Solutions.
Operating loss increased $26.1 million to $58.1 million, primarily due to lower sales in Education Solutions and increased freight costs.
The company strategically invested in long-term go-to-market capabilities and moved to acquire Learning OvationsTM.
Scholastic reaffirmed its guidance for fiscal year 2023, expecting revenues to increase 8% to 10% and Adjusted EBITDA of $195 million to $205 million.
Scholastic
Scholastic
Scholastic Revenue by Geographic Location
Revenue by Geographic Location
International Revenue
CapyFin.com Forward Guidance
The Company has affirmed its guidance for fiscal year 2023 for revenues to increase 8% to 10% and Adjusted EBITDA of $195 million to $205 million, up from $189 million in fiscal 2022, with the greatest contribution expected in the seasonally important second and fourth fiscal quarters.