Loading...
•
Jan 31, 2024
Wiley Q3 2024 Earnings Report
Reported mixed results with revenue decline due to divestitures, offset by growth in Research and Learning, and raised full-year earnings guidance.
Key Takeaways
Wiley's Q3 2024 results showed a GAAP revenue decline of 6% to $461 million, impacted by divestitures and held-for-sale businesses. However, adjusted revenue, excluding these businesses, increased by 1% to $403 million. The company raised its full-year adjusted EBITDA and EPS guidance, reflecting confidence in underlying momentum and cost savings.
GAAP revenue decreased by 6% to $461 million, influenced by divestitures and businesses held for sale.
Adjusted revenue, excluding held-for-sale or sold businesses, rose by 1% to $403 million.
Research segment revenue increased by 1% as reported, driven by open access growth.
Learning segment revenue grew by 2%, led by a 5% increase in Academic revenue.
Wiley
Wiley
Wiley Revenue by Segment
Revenue by Segment
Research Revenue
CapyFin.comLearning Revenue
CapyFin.com Forward Guidance
Wiley anticipates revenue trending toward the mid-to-high end of its previously stated range and has raised its Adjusted EBITDA and Adjusted EPS guidance for fiscal year 2024.
Positive Outlook
- Revenue trending toward mid-to-high end of $1,580 to $1,630 million range
- Adjusted EBITDA raised to $335 to $355 million
- Adjusted EPS raised to $2.45 to $2.65
- Leading indicators suggest continued positive momentum.
- Anticipated Q4 content rights deal for training AI models will augment Learning segment performance.
Challenges Ahead
- Unspecified variability, complexity, and low visibility with respect to certain items
- Restructuring charges and credits
- Gains and losses on foreign currency
- Other gains and losses
- Worldwide economic and political conditions
Revenue & Expenses
Visualization of income flow from segment revenue to net income