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 (SCHL) delivers trusted educational content and children's media through its global publishing networks. This page provides investors and stakeholders with a centralized resource for official press releases, financial updates, and strategic developments from the leader in children's literacy solutions.
Discover timely updates across Scholastic's core operations: book publishing innovations, education technology initiatives, and multimedia expansions of beloved literary franchises. Our curated news collection enables informed analysis of SCHL's market position in educational publishing and family entertainment.
Key content categories include earnings announcements, leadership updates, product launches, and partnerships advancing childhood literacy. All materials are sourced directly from Scholastic's corporate communications to ensure accuracy and compliance.
Bookmark this page for streamlined access to SCHL's latest developments. Monitor how the company's 100-year legacy in educational publishing evolves through digital innovation and global community engagement.
Scholastic (NASDAQ: SCHL) announced plans to integrate its Book Fairs and Book Clubs into a single school reading events division by June 2023, aiming to enhance operational efficiency and expand its impact on literacy. Sasha Quinton will lead the new division, leveraging her successful leadership of Book Fairs since 2020. Judy Newman has been appointed as the first Chief Impact Officer, focusing on partnerships to increase literacy access. The transition is underway, with results to be discussed during the company's year-end report.
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.
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.
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.
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