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 the world's largest publisher and distributor of children's books, and a leading provider of both print and digital instructional materials from pre-kindergarten to grade 12. For over a century, Scholastic has been committed to fostering literacy and intellectual growth among children globally. The company is well-known for its diverse range of products that include best-selling books, e-books, and technology-based learning materials, as well as its classroom magazines and educational media.
Some of Scholastic's flagship titles include globally beloved series such as Harry Potter, The Hunger Games, Clifford the Big Red Dog, Goosebumps, and The Magic School Bus. These offerings are part of its three main business segments: Children's Book Publishing and Distribution, Education Solutions, and International.
Scholastic's recent initiatives highlight its continuous innovation in the educational field. The company has launched the 2023-2024 Teacher Fellows program, which collaborates with educators to develop effective classroom resources. Furthermore, the company's investment in 9 Story Media Group aims to expand its reach in children's media, enhancing its ability to bring quality educational content to various platforms.
In a recent partnership with Little Free Library, Scholastic has also demonstrated its commitment to increasing book accessibility by donating 50,000 copies of Dog Man to underserved communities. Another notable project is the
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.
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