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
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.
Scholastic Entertainment is partnering with Gaumont to co-develop an animated preschool series titled Rocket Park, inspired by 13-year-old Sofia Sanchez, a Down syndrome advocate. The show aims to instill values of acceptance and community among children through 11-minute episodes and original music. This project follows the success of their previous collaboration on the series Stillwater. The initiative underscores Scholastic's commitment to inclusive programming for children, promoting messages of love and diversity.
FAQ
What is the current stock price of Scholastic (SCHL)?
What is the market cap of Scholastic (SCHL)?
What does Scholastic Corporation specialize in?
What are some popular titles published by Scholastic?
What are the main business segments of Scholastic?
How does Scholastic support teachers?
What recent partnerships has Scholastic entered?
How does Scholastic contribute to literacy development?
Where can I learn more about Scholastic's latest news?
What new initiatives has Scholastic recently launched?
What educational levels do Scholastic's materials cover?
