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.
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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.
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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.