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John Wiley & Sons, Inc. (NYSE: WLY) is a globally-renowned provider of academic journals, books, pre- and post-hire assessments, training materials, test preparation resources, and online education program management solutions. Established in 1807, Wiley has been a trusted source of knowledge for over two centuries, playing a pivotal role in the fields of science, technology, medicine, and education. The company boasts a rich heritage, having published works by more than 400 Nobel Laureates across diverse categories including literature, economics, physiology or medicine, physics, chemistry, and peace.
Wiley’s core businesses encompass the publication of scientific, technical, medical, and scholarly journals, encyclopedias, books, and online products and services. Additionally, the company offers professional and trade books, subscription products, training materials, online applications, and educational content for undergraduate and graduate students as well as lifelong learners.
The company is strategically segmented into two primary business units: the Academic segment, which caters to university customers and includes Academic Publishing and University Services, and the Talent segment, which focuses on delivering training, sourcing, and upskilling solutions to corporate clients. Impressively, over 85% of Wiley’s total revenue is derived from digital products and tech-enabled services, underlining the company's adaptability in an increasingly digital world.
Headquartered in Hoboken, New Jersey, Wiley operates globally with significant presences in the U.S., Europe, Asia, Canada, and Australia. The company’s website, accessible at www.wiley.com, provides further insights into its vast array of services and offerings.
In recent news, Academic Partnerships (AP), a company that aids regional public universities in expanding their online programs, has agreed to acquire Wiley University Services. This merger is intended to support over 125 colleges and universities across 40 U.S. states and internationally. By combining efforts, the two entities aim to enhance access to affordable, high-quality, and workforce-relevant online education, particularly for working adults and professionals. This transaction, scheduled to close by early 2024, symbolizes a strategic shift towards a more focused Wiley, leveraging its competitive advantages and market opportunities in research and learning.
Wiley (NYSE: WLY and WLYB) has declared a quarterly cash dividend of $0.3475 per share, payable on April 25, 2023, to shareholders of record on April 11, 2023. This represents an annual dividend of $1.39 per share, up from $1.38 in Fiscal 2022. Notably, this marks the 29th consecutive year that Wiley has increased its quarterly dividend. The company continues its commitment to delivering value to shareholders through consistent dividend growth.
Wiley Edge has partnered with Columbia University's School of Engineering and Applied Science to address labor market gaps in technology skills. This collaboration allows Wiley Edge graduates to earn certificates from Columbia Engineering after completing training programs for in-demand tech roles. The partnership aims to combat a projected talent shortage that could cost businesses trillions by the decade's end, particularly $162 billion annually in technology alone. With a focus on experiential learning and workforce readiness, this initiative enhances career opportunities for graduates while supporting corporate clients' needs for skilled talent.
Wiley (NYSE: WLY) reported a third-quarter revenue of $491 million, reflecting a 5% decline year-over-year due to a goodwill impairment and restructuring costs. The operating loss reached $67 million, compared to a profit of $46 million in the previous year. The EPS loss stood at $1.29, attributed to a $100 million non-cash impairment charge.
Adjusted results indicated an Adjusted EBITDA of $98 million and an Adjusted EPS of $0.85, both lower than prior year figures. The company revised its fiscal outlook downward due to increased market challenges and a publishing pause at Hindawi.
Wiley (NYSE: WLY) is set to announce its third quarter 2023 results before the market opens on March 9, 2023. A conference call will follow at 10 am ET to discuss the financial results. Investors can access the live audio webcast and presentation slides via Wiley's Investor Relations website. The company emphasizes its role as a leading publisher and provider of scientific research and career-connected education worldwide. Additional information and resources will be archived for one year.
Wiley (NYSE: WLY, WLYB) has declared a quarterly cash dividend of $0.3475 per share on its Class A and Class B Common Stock. This dividend will be payable on January 11, 2023, to shareholders of record on December 27, 2022. The dividend represents an annual increase to $1.39 per share, up from $1.38 in Fiscal 2022. This marks the 29th consecutive year that Wiley has raised its quarterly dividend, reflecting strong confidence in its financial performance and commitment to returning value to shareholders.
Wiley (NYSE: WLY) reported Q2 results for the period ending October 31, 2022, showing revenue of $515 million, down 3% YoY, with operating income decreasing by 22% to $57 million. GAAP EPS dropped 31% to $0.68. Adjusted results reflect a slight revenue growth of 1% at constant currency, but adjusted EPS fell 13% to $1.20. Due to consumer spending and enrollment challenges, the fiscal 2023 revenue outlook has been lowered to $2,110 - $2,150 million, while adjusted EBITDA guidance remains reaffirmed. Cash flow remains impacted by subscription collection timing.
Wiley (NYSE: WLY) will release its second quarter 2023 results before market open on December 7, 2022. A conference call is scheduled for 10 am ET to discuss the results. Investors can access the live audio webcast and presentation slides through Wiley's Investor Relations website. The conference call invites both US and Canada callers, as well as international participants, providing specific dial-in codes for ease of access. This event is crucial for stakeholders to gain insights into Wiley's financial performance.
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