Welcome to our dedicated page for Scholastic news (Ticker: SCHL), a resource for investors and traders seeking the latest updates and insights on Scholastic stock.
Scholastic Corporation reports developments tied to its global children’s publishing, education and media business. Company news commonly covers children’s books, school-based book clubs and book fairs, classroom magazines, literacy and knowledge-building resources, and entertainment or character-driven publishing such as Dog Man and Captain Underpants.
Scholastic updates also address quarterly operating results, activity in its Children’s Book Publishing and Distribution, Education Solutions, and International segments, and capital allocation actions. Recurring financial news includes dividends, common-stock repurchases, tender-offer activity, sale-leaseback transactions, credit-facility use, and balance-sheet management alongside initiatives that expand book access and reading engagement.
Scholastic Corporation (SCHL) reported its fiscal Q3 results for 2023, revealing a revenue decrease of 6% to $324.9 million, mainly due to softening retail demand in the children's book market. Despite these challenges, the Children's Books segment saw growth attributed to strong Book Fairs performance. The company returned over $53 million to shareholders through dividends and share repurchases, highlighting its commitment to shareholder value. However, the outlook has been adjusted, forecasting a reduced Adjusted EBITDA of $175-185 million and a revenue growth of approximately 4% for the fiscal year, down from previous estimates of 8-10%.
On March 22, 2023, Scholastic Corporation (NASDAQ: SCHL) declared a quarterly cash dividend of $0.20 per share on its Class A and Common Stock for Q4 of fiscal 2023. This dividend is scheduled to be paid on June 15, 2023, to shareholders on record as of the close of business on April 28, 2023. This announcement reflects Scholastic's commitment to returning value to its shareholders, consistent with its long-standing business practices.
Scholastic Corporation (NASDAQ: SCHL) has scheduled its third quarter fiscal year 2023 earnings release for March 23, 2023, at 4:00 PM ET. The earnings report will be available on the company's investor relations website. Following this, a conference call hosted by CEO Peter Warwick and CFO Kenneth Cleary will take place at 4:30 PM ET. Participants are encouraged to join the call five minutes early to avoid delays. An archived version of the webcast will be available shortly after the live call. Scholastic has been a key player in children's publishing and has a global reach, providing educational resources to enhance literacy.
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On February 22, 2023, Scholastic announced a strategic partnership with SoapBox Labs to launch Ready4Reading, an AI-driven phonics curriculum utilizing SoapBox's speech technology. This curriculum aims to enhance literacy instruction in U.S. K-3 classrooms, leveraging evidence-based practices to support diverse learners. Ready4Reading combines explicit skills instruction with interactive text experiences through a four-part framework: Teach, Practice, Apply, Prove. The initiative represents a commitment to equity in education and aims to provide actionable feedback for educators while fostering children's reading confidence.
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Scholastic Corporation (NASDAQ: SCHL) reported a 12% increase in earnings for its fiscal Q2 2023, with revenues reaching $587.9 million compared to $524.2 million in the prior year. The Children's Books segment was a significant contributor, driven by robust sales in school channels and successful best sellers. Operating income rose 20% to $100.1 million. The company affirmed its fiscal 2023 guidance for revenue growth of 8%-10% and Adjusted EBITDA between $195 million to $205 million. Additionally, a $75 million stock repurchase authorization was announced.
Scholastic Corporation (NASDAQ: SCHL) announced a quarterly cash dividend of $0.20 per share on its Class A and Common Stock for Q3 FY2023. This dividend is set to be paid on March 15, 2023 to shareholders on record by January 31, 2023. This payout reflects the company’s ongoing commitment to returning capital to shareholders while promoting growth in children's literacy and education.
Scholastic Entertainment is partnering with Gaumont to co-develop an animated preschool series titled Rocket Park, inspired by 13-year-old Sofia Sanchez, a Down syndrome advocate. The show aims to instill values of acceptance and community among children through 11-minute episodes and original music. This project follows the success of their previous collaboration on the series Stillwater. The initiative underscores Scholastic's commitment to inclusive programming for children, promoting messages of love and diversity.