Scholastic Corp. SCHL reported first-quarter financial results after Thursday's closing bell. Here's a look at the details from the report.
The Details:
Scholastic reported quarterly GAAP losses of $2.21 per share, which beat the analyst consensus estimate for losses of $2.48. Quarterly revenue of $237.2 million beat the analyst consensus estimate of $233.5 million.
- Book Fairs revenues were $28.8 million, up 5% from the prior year period.
- Book Clubs revenues were $2.7 million, in line with the prior year period.
- Consolidated Trade revenues were $73.9 million, up 2% from the prior year period, primarily driven by higher foreign rights revenues, partly offset by lower frontlist sales compared to the prior year period.
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“During our first quarter, Scholastic prepared for another important back-to-school season, as we executed on our long-term growth initiatives. In the seasonally quiet quarter for our school-based channels, first quarter’s operating loss improved modestly versus the prior year,” said Peter Warwick, president and CEO of Scholastic.
SCHL Price Action: According to Benzinga Pro, Scholastic shares are up 7.69% after-hours at $32.50 at the time of publication Thursday.
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Image: Courtesy of Scholastic Corporation.
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