Scholastic Corp Stock Price, News & Analysis

Scholastic (NASDAQ: SCHL) has released Reading Above the Fray, a guide for educators aimed at improving foundational reading skills. Highlighting the urgent need for effective reading instruction exacerbated by the pandemic, the book presents evidence-based routines that promote decoding skills essential for fluency and comprehension. Julia B. Lindsey, the author, emphasizes systematic teaching and engaging practices to address growing achievement gaps. The National Assessment of Educational Progress reports a significant decline in reading scores, underscoring the necessity for timely interventions in literacy education.

Scholastic Corporation (NASDAQ: SCHL) reported its fiscal Q1 2023 results, with revenues of $262.9 million, up 1% year-over-year. Despite the revenue increase, operating loss widened to $58.1 million, compared to $32.0 million the previous year. The company highlighted strategic investments in Education Solutions and successful Book Fairs but faced challenges in the Education segment, where revenues fell 6.9%. Scholastic affirmed its fiscal year 2023 guidance, projecting an 8-10% revenue increase. Free cash flow showed significant negative results at $(76.5 million).

Scholastic Corporation (NASDAQ: SCHL) has declared a quarterly cash dividend of $0.20 per share on its Class A and Common Stock for Q2 of fiscal 2023. This dividend is set to be paid on December 15, 2022, to shareholders on record by the close of business on October 31, 2022. Scholastic, known for its extensive contributions to children’s literacy, remains a key player in educational publishing and distribution.

Scholastic Corporation (NASDAQ:SCHL) has scheduled its first quarter fiscal year 2023 earnings release for September 22, 2022, at 4:00 PM Eastern. The earnings will be accessible on the company's investor relations website. A conference call will follow at 4:30 PM, led by President and CEO Peter Warwick and CFO Kenneth Cleary. Participants can register online or by phone. An archived webcast will be available shortly after the call, ensuring stakeholders have access to the information.

Scholastic (NASDAQ: SCHL) has appointed Jeffrey Mathews as Executive Vice President, Corporate Development and Investor Relations, effective immediately. Mathews will join the executive committee to identify investment and partnership opportunities for growth. His role includes enhancing shareholder engagement and communicating with the investment community. Previously, he served as Managing Partner at Gagnier Communications and held various positions at Scholastic, contributing to corporate strategy and investor relations. The company aims to leverage his experience to strengthen its market position and stakeholder value.

Scholastic Corporation (NASDAQ: SCHL) announced the acquisition of Learning Ovations, the creator of the A2i literacy assessment and instructional system. This acquisition aims to enhance Scholastic's literacy platform by integrating data-driven assessments and professional learning resources with their existing portfolio. The A2i system, backed by extensive research, is proven to improve literacy outcomes in students aged preK-3, aligning with the Science of Reading. The transaction details were not disclosed, but this integration is seen as critical in supporting educators and enhancing children's reading success post-COVID disruptions.

Scholastic announced the launch of Dav Pilkey's Epic Comic Club, a global platform for kids to create comics, coinciding with the upcoming release of the new graphic novel DOG MAN: TWENTY THOUSAND FLEAS UNDER THE SEA on March 28, 2023. The platform offers a safe space for children to upload comics and access free resources. Dav Pilkey's books have sold over 50 million copies, with a movie adaptation in development. Scholastic aims to foster creativity among children and celebrate the upcoming 25th anniversary of the Captain Underpants series.

Scholastic Corporation (NASDAQ: SCHL) reported a robust financial performance for the fiscal fourth quarter and full year ended May 31, 2022. The company achieved a 28% year-over-year revenue growth to $514.4 million and a significant operating income increase of $55.8 million, totaling $65.5 million. This growth was driven by successful in-person book fairs and strong educational product demand. Scholastic expects 2023 revenue to rise by 8%-10% compared to fiscal 2022, and has raised its quarterly dividend by 33% to $0.20 per share, reflecting confidence in ongoing performance.

Scholastic Corporation (NASDAQ: SCHL) has announced a 33% increase in its quarterly dividend, raising it from $0.15 to $0.20 per share. This new dividend rate will take effect starting with the payment for the first quarter of fiscal 2023, set for September 15, 2022. Shareholders registered by August 31, 2022 will be eligible for this dividend. The annual dividend now stands at $0.80 per share, reflecting the company's commitment to returning value to its investors.