Scholastic Corp Stock Price, News & Analysis

Scholastic Corporation (NASDAQ:SCHL) has announced its schedule for the second quarter fiscal year 2021 earnings release. The earnings will be released on December 17, 2020, at approximately 4:00 PM Eastern, accessible via the company's websites. A subsequent conference call will occur on the same day at 4:30 PM Eastern, hosted by CEO Richard Robinson and CFO Kenneth Cleary. Interested parties can join by calling (877) 654-5161 or +1 (678) 894-3064 for international calls. An archived version of the call will be available until December 24, 2020.

Scholastic has partnered with civil rights icon Ruby Bridges to launch a multi-book publishing program featuring three new picture books. This collaboration celebrates Bridges' legacy on the 60th anniversary of her groundbreaking integration into an all-white elementary school. The first book, I Am Ruby Bridges, will be published in spring 2022, followed by Dear Ruby Bridges in spring 2023, and A Talk with My Teacher. The initiative aims to educate children about diversity and inclusion, aligning with Bridges' mission to inspire young minds.

Scholastic is adapting its Book Fairs amid the challenges of the 2020 academic year by offering drive-through, virtual, and revamped in-person options. These changes aim to provide students with a sense of normalcy while adhering to safety guidelines. The new models include safety kits for in-person fairs, outdoor setups for drive-through events, and an online platform for virtual shopping. Scholastic emphasizes the importance of these fairs in raising funds for schools and engaging students in reading despite ongoing disruptions.

Scholastic has selected 45 students, aged 10-14, to join the Scholastic Kids Press program for the 2020-2021 academic year, representing 21 U.S. states and over 10 countries. These young journalists will cover critical issues, including the 2020 U.S. presidential election, while honing their writing and critical-thinking skills. The program aims to engage students amidst the COVID-19 pandemic, reaching 25 million students through its publications. Notable past Kid Reporter interviews include figures like Jane Goodall and Sonia Sotomayor.

Scholastic Corporation (NASDAQ: SCHL) reported FY2021 Q1 results, with revenues of $215.2 million, down 7% from $232.6 million in FY2020. Operating loss improved to $57.0 million from $87.4 million, a 35% reduction. Notably, cost savings of $100 million enhanced cash flow and preserved liquidity. Digital billings increased by 15%, reflecting strong demand for educational resources. However, delays in school openings may impact revenue for the next quarter. The company is optimistic about future growth in digital education and bestsellers.

On September 23, 2020, Scholastic Corporation (NASDAQ: SCHL) announced a quarterly cash dividend of $0.15 per share on Class A and Common Stock for Q2 of fiscal 2021. This dividend will be payable on December 15, 2020 to shareholders recorded by the close of business on October 30, 2020. Scholastic continues to support children's literacy through its extensive range of educational products and services worldwide, reinforcing its commitment to growth and shareholder value.

On September 21, 2020, Scholastic announced its commitment to support nearly 50,000 educators amid returning to school during the pandemic. They introduced innovative digital learning solutions, including Scholastic F.I.R.ST. for pre-K–2, Scholastic W.O.R.D. for K–5, and Scholastic Literacy Pro for K–8, recognized for Research-Based Design by Digital Promise. These programs aim to provide equitable learning opportunities with data-driven analytics, aiding students in building essential literacy skills regardless of their learning environment.

Scholastic Corporation (NASDAQ: SCHL) announced its first quarter fiscal year 2021 earnings release schedule. The earnings will be available on September 24, 2020, at approximately 4:00 PM Eastern time. A conference call will follow at 4:30 PM on the same day, hosted by Richard Robinson and Kenneth Cleary. Interested parties can join the call by dialing (877) 654-5161 or through the webcast on Scholastic's investor website. Archived materials will be available shortly after the call for those unable to attend.