Wiley Q2 2023 Earnings Report
Key Takeaways
Wiley reported a revenue decrease of 3% compared to the prior year, with operating income and EPS also declining. The results were weighed down by difficult market conditions in the Academic & Professional Learning segment. However, the company saw good underlying momentum in core growth areas of Research Publishing, Research Solutions, and Corporate Talent Development.
Revenue decreased by 3% compared to the prior year, totaling $515 million.
Operating income decreased by 22% compared to the prior year, reaching $57 million.
EPS decreased by 31% compared to the prior year, amounting to $0.68.
Adjusted EPS was $1.20, a 13% decrease at constant currency.
Wiley
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Wiley Revenue by Segment
Forward Guidance
Wiley is reducing its revenue growth outlook at constant currency due to consumer spending and enrollment headwinds in Education. Based on leading indicators, Wiley is reaffirming its guidance for Adjusted EBITDA and Free Cash Flow. Adjusted EPS is reaffirmed but trending to the lower end of range mainly due to rising interest expense.
Revenue & Expenses
Visualization of income flow from segment revenue to net income