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 (NASDAQ: SCHL) is widely known as a global children's publishing, education and media company, and its news flow reflects that focus on literacy, content and capital allocation. Company press releases and filings regularly describe Scholastic as the world's largest publisher and distributor of children's books, a provider of literacy curriculum and classroom magazines, and a producer of children's media with reach into more than 135 countries.
News related to SCHL often centers on financial results, strategic initiatives and developments across its segments. Earnings announcements provide updates on the performance of Children's Book Publishing and Distribution, Education Solutions, Entertainment and International, with commentary on trends in book fairs, book clubs, trade publishing and education funding. These releases also highlight the impact of major franchises such as Dog Man, The Hunger Games and Harry Potter on global publishing and international sales.
Investors following Scholastic news can also expect updates on capital allocation and balance sheet actions. Recent items have included details on sale-leaseback transactions for the company’s New York City headquarters and Jefferson City, Missouri distribution center, the resulting net proceeds, and how those proceeds relate to priorities such as debt reduction and share repurchases. Dividend declarations and changes to share repurchase authorizations are another recurring theme.
Governance and leadership developments appear in SCHL news as well, including board changes, director appointments, and management roles tied to growth strategy and education operations. For example, the company has announced new leadership for its education division and described efforts to refine product portfolios and go-to-market execution in a challenging funding environment.
This news page aggregates these types of updates so readers can follow Scholastic’s financial performance, strategic decisions, educational initiatives and IP-driven media activities over time.
On November 3, 2021, Scholastic announced the School District of Philadelphia as the inaugural winner of the Richard M. Robinson Literacy Champion Award. This award, named after late Chairman Richard Robinson, recognizes urban school districts for advancing reading achievement. Philadelphia's General George G. Meade School will receive over 6,000 books, a library renovation, and a one-year site license to Scholastic Literacy Pro®. These initiatives aim to enhance literacy access and promote a culture of reading among students.
Scholastic Book Clubs has launched The United States of Readers™ program to tackle literacy inequity, funded by a $1.5 million donation from author James Patterson. The initiative will support 32,000 students across 1,500 classrooms, providing them access to books at no cost. The program allows students to select two books five times a year, fostering book ownership. Scholastic aims to empower low-income students and has a goal of reaching 5 million children in Title I schools by 2026. This effort continues Patterson's commitment to literacy, having donated $11 million since 2015.
On September 27, 2021, Scholastic Kids Press announced the selection of 36 new and returning Kid Reporters, aged 10-14, from 18 U.S. states and several countries. This program enables young journalists to report on significant topics affecting children. Last year, they covered events like the U.S. presidential election and the COVID-19 vaccine development. The reports reach over 25 million students through Scholastic magazines. Editor Suzanne McCabe praised the reporters for their dedication and the program's role in providing relevant news to young audiences.
Scholastic Corporation (NASDAQ: SCHL) reported its fiscal first quarter results for 2022, showing revenues of $259.8 million, up 21% from $215.2 million in 2021, driven by strong performance in U.S. trade and education channels. Operating loss improved by 44% to $(32.0) million. The Company experienced a net cash inflow of $63.6 million, a significant turnaround from last year’s loss. The outlook for fiscal 2022 remains positive with expected demand growth in school-based channels despite facing inflationary pressures and supply chain challenges.
Scholastic Corporation (NASDAQ: SCHL) declared a quarterly cash dividend of $0.15 per share on its Class A and Common Stock for Q2 of fiscal 2022. This dividend is set to be payable on December 15, 2021, to shareholders of record by October 29, 2021. With over 100 years in the industry, Scholastic continues its commitment to fostering literacy among children worldwide, distributing books and educational resources across 165 countries through various channels.
Scholastic Corporation (NASDAQ: SCHL) will announce its first quarter fiscal year 2022 earnings on September 23, 2021, at approximately 4:00 PM Eastern Time. A conference call will follow at 4:30 PM, led by CEO Peter Warwick and CFO Kenneth Cleary. Participants can join via phone or access the webcast on the company's investor relations website. The archived audio and slides will be available post-call until October 1, 2021. Scholastic is a leading publisher and distributor of children's books and educational materials, committed to supporting literacy worldwide.
On September 2, 2021, Scholastic announced that Gwendoline Christie will narrate the audiobook of Kaleidoscope, a book by bestselling author Brian Selznick. The story, releasing on September 21, 2021, explores themes of love and loss and is already receiving acclaim with multiple starred reviews. The audiobook will also feature original music by Robert Een, enhancing the immersive experience. Scholastic’s President, Lori Benton, highlighted the unique reading experience, emphasizing the anticipation surrounding this release.
Scholastic Corporation (NASDAQ: SCHL) reported its fiscal 2021 results with a 41% increase in Q4 revenues to $401.4 million, though total yearly revenues dropped 13% to $1.30 billion due to pandemic impacts. The fourth-quarter operating income rose sharply by 121% to $9.7 million, aided by cost-saving measures. Adjusted EBITDA showed a significant improvement of 147% at $139.6 million. The company anticipates revenues to grow in fiscal 2022 as market conditions improve, particularly in their book fairs segment. Key titles and digital products are projected to drive growth.
Scholastic Corporation (NASDAQ: SCHL) has declared a quarterly cash dividend of $0.15 per share on its Class A and Common Stock for Q1 fiscal 2022. This dividend is payable on September 15, 2021, for shareholders recorded by the close of business on August 31, 2021. Scholastic is a leading publisher and distributor of children's books and educational media, committed to promoting literacy and learning across international markets.
On July 19, 2021, Scholastic Corporation announced the appointment of Peter Warwick as President and CEO, effective August 1, 2021. Warwick, a board member since 2014, succeeds the late Richard Robinson. He aims to uphold Scholastic's mission in children's literacy and education while enhancing stakeholder value. Additionally, Iole Lucchese and Robert Dumont were newly appointed to the Board of Directors, strengthening leadership for future growth. The changes follow Robinson's passing, ensuring continuity in Scholastic's strategic direction.