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 (NASDAQ: SCHL) has authorized a repurchase of up to $75 million of its common stock via a modified 'Dutch Auction' tender offer, starting on October 25, 2022. The offer price per share will range from $35.00 to $40.00. This initiative reflects Scholastic's commitment to enhancing shareholder value while maintaining a strong balance sheet. The repurchase aims to leverage attractive pricing and aligns with the company’s long-term financial strategy as it continues to prioritize growth opportunities.
Scholastic has announced the 29 student journalists selected for the 2022-2023 Scholastic Kids Press program, aimed at fostering media literacy among youth. The diverse group, composed of 13 new and 16 returning members aged 10-14, represents 15 U.S. states and 8 countries including China and Japan. They will cover important local and global events, producing articles that engage their peers. In addition to journalism training, Scholastic launched "Reporting the News," a free resource for teaching kids journalism fundamentals. This initiative emphasizes the importance of youth perspectives in media.
Scholastic (NASDAQ: SCHL) has released Reading Above the Fray, a guide for educators aimed at improving foundational reading skills. Highlighting the urgent need for effective reading instruction exacerbated by the pandemic, the book presents evidence-based routines that promote decoding skills essential for fluency and comprehension. Julia B. Lindsey, the author, emphasizes systematic teaching and engaging practices to address growing achievement gaps. The National Assessment of Educational Progress reports a significant decline in reading scores, underscoring the necessity for timely interventions in literacy education.
Scholastic Corporation (NASDAQ: SCHL) reported its fiscal Q1 2023 results, with revenues of $262.9 million, up 1% year-over-year. Despite the revenue increase, operating loss widened to $58.1 million, compared to $32.0 million the previous year. The company highlighted strategic investments in Education Solutions and successful Book Fairs but faced challenges in the Education segment, where revenues fell 6.9%. Scholastic affirmed its fiscal year 2023 guidance, projecting an 8-10% revenue increase. Free cash flow showed significant negative results at $(76.5 million).
Scholastic Corporation (NASDAQ: SCHL) has declared a quarterly cash dividend of $0.20 per share on its Class A and Common Stock for Q2 of fiscal 2023. This dividend is set to be paid on December 15, 2022, to shareholders on record by the close of business on October 31, 2022. Scholastic, known for its extensive contributions to children’s literacy, remains a key player in educational publishing and distribution.
Scholastic Corporation (NASDAQ:SCHL) has scheduled its first quarter fiscal year 2023 earnings release for September 22, 2022, at 4:00 PM Eastern. The earnings will be accessible on the company's investor relations website. A conference call will follow at 4:30 PM, led by President and CEO Peter Warwick and CFO Kenneth Cleary. Participants can register online or by phone. An archived webcast will be available shortly after the call, ensuring stakeholders have access to the information.
Scholastic (NASDAQ: SCHL) has appointed Jeffrey Mathews as Executive Vice President, Corporate Development and Investor Relations, effective immediately. Mathews will join the executive committee to identify investment and partnership opportunities for growth. His role includes enhancing shareholder engagement and communicating with the investment community. Previously, he served as Managing Partner at Gagnier Communications and held various positions at Scholastic, contributing to corporate strategy and investor relations. The company aims to leverage his experience to strengthen its market position and stakeholder value.
Scholastic Corporation (NASDAQ: SCHL) announced the acquisition of Learning Ovations, the creator of the A2i literacy assessment and instructional system. This acquisition aims to enhance Scholastic's literacy platform by integrating data-driven assessments and professional learning resources with their existing portfolio. The A2i system, backed by extensive research, is proven to improve literacy outcomes in students aged preK-3, aligning with the Science of Reading. The transaction details were not disclosed, but this integration is seen as critical in supporting educators and enhancing children's reading success post-COVID disruptions.
Scholastic announced the launch of Dav Pilkey's Epic Comic Club, a global platform for kids to create comics, coinciding with the upcoming release of the new graphic novel DOG MAN: TWENTY THOUSAND FLEAS UNDER THE SEA on March 28, 2023. The platform offers a safe space for children to upload comics and access free resources. Dav Pilkey's books have sold over 50 million copies, with a movie adaptation in development. Scholastic aims to foster creativity among children and celebrate the upcoming 25th anniversary of the Captain Underpants series.
Scholastic Corporation (NASDAQ: SCHL) reported a robust financial performance for the fiscal fourth quarter and full year ended May 31, 2022. The company achieved a 28% year-over-year revenue growth to $514.4 million and a significant operating income increase of $55.8 million, totaling $65.5 million. This growth was driven by successful in-person book fairs and strong educational product demand. Scholastic expects 2023 revenue to rise by 8%-10% compared to fiscal 2022, and has raised its quarterly dividend by 33% to $0.20 per share, reflecting confidence in ongoing performance.
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?
