Wiley Reports Third Quarter Fiscal 2021 Results
John Wiley & Sons reported a 3% increase in revenue to $483 million for Q3 2021, yet its EPS declined by 38% to $0.39 due to $0.28 in restructuring charges. At constant currency, adjusted metrics showed revenue growth of 2%, 7% increase in EBITDA, and 6% rise in EPS. The company raised its full-year outlook for revenue, adjusted EBITDA, adjusted EPS, and free cash flow. The successful acquisition of Hindawi boosts their research strategy.
- 3% revenue increase to $483 million
- Full year outlook raised for revenue, adjusted EBITDA, and adjusted EPS
- Acquisition of Hindawi enhances research growth strategy
- EPS declined by 38% to $0.39 due to restructuring charges
John Wiley & Sons, Inc. (NYSE:JWA)(NYSE:JWB), a global leader in research and education, today announced results for the third quarter ended January 31, 2021.
THIRD QUARTER SUMMARY
-
GAAP Results: Revenue of
$483 million (+3% ) and EPS of$0.39 (-$0.24) due to restructuring charges of$0.28 primarily related to real estate capacity reduction -
Adjusted Results at constant currency (cc): Revenue +
2% , EBITDA +7% , and EPS +6% - Full Year Outlook raised for Revenue, Adjusted EBITDA, Adjusted EPS and Free Cash Flow
MANAGEMENT COMMENTARY
“Wiley’s strategic focus and solid execution in open research and online education continue to yield strong results,” said Brian Napack, President and CEO. “During the quarter, we accelerated our Research growth strategy with the acquisition of Hindawi, a rapidly-growing leader in open access publishing, and we strengthened the Wiley network with new university and corporate partners for online degree and talent development services.”
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FAQ
What were the Q3 2021 results for JWA and JWB?
In Q3 2021, JWA and JWB reported $483 million in revenue, up 3%, but EPS fell by 38% to $0.39.
What is the future outlook for John Wiley & Sons (JWA, JWB)?
The company raised its full-year guidance for revenue, adjusted EBITDA, adjusted EPS, and free cash flow.
How did the acquisition of Hindawi impact Wiley's performance?
The acquisition of Hindawi supports Wiley's strategic focus on growth in open research and online education.
JWA
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