<div class="textg" style="text-align: justify; font-weight: lighter; line-height: 1.3em; font-size: 15px; border-radius: 3px; color: #80909a; padding: 10px; background-color: #F4F6F9; margin-bottom: 15px;">
 Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our&nbsp;<a href="https://tokenist.com/terms-of-service/" style="text-decoration:underline;color:#3c7b7b" target="_blank" rel="noopener noreferrer nofollow" class="deco-link">website policy</a>&nbsp;prior to making financial decisions.
</div>
<p class="has-drop-cap">Scholastic Corporation (NASDAQ: SCHL) showcased mixed results in its fiscal 2024 second quarter. Despite facing modestly lower revenues during the critical back-to-school season, the company reported steady profits. This performance underlines Scholastic’s resilience in a challenging market. Notably, the company returned over $58 million to shareholders in Q2, reflecting its confidence in long-term growth. However, the quarter’s results fell short of expectations for profit growth.</p>
<h3 id="scholastic-fails-to-beat-expectations-in-q2-fy24">Scholastic Fails to Beat Expectations in Q2 FY24</h3>
<p>Scholastic’s results present a mixed picture comparing the actual performance with the pre-set expectations for the quarter. Analysts had projected an Earnings Per Share (EPS) of $2.65 and revenue of $625.23 million. Scholastic reported an EPS of $2.45, slightly below the anticipated figure. This deviation can be attributed to various external and market factors impacting the company’s profitability.</p>
<p>Revenue-wise, the company faced a reduction, primarily due to a strategic resizing of its Book Clubs and a lower-than-expected production revenue in the Entertainment division. These results indicate that while Scholastic navigates market challenges effectively, it still falls short of its high expectations.</p>
<div class="cta-referral"><img src="https://tokenist.com/wp-content/themes/thetokenist/assets/img/del/cta-referral-1.png" alt="" class="cta-referral__img" loading="lazy" decoding="async">
 <div class="cta-referral__text">
  <p>Join our&nbsp;<a href="https://t.me/thetokenist" target="_blank" rel="noopener noreferrer nofollow">Telegram group</a>&nbsp;and never miss a breaking digital asset story.</p>
 </div>
</div>
<h3 id="expects-adjusted-ebitda-to-be-between-165m-and-175m">Expects Adjusted EBITDA to Be Between $165M and $175M</h3>
<p>Scholastic has revised its guidance for Fiscal Year 2024 based on the second quarter’s outcomes and the updated outlook for the remainder of the fiscal year.<br><br>The company now anticipates Adjusted EBITDA to be between $165 million and $175 million, excluding the impact of one-time charges related to restructuring and cost savings, which are estimated to be around $7 million to $10 million.<br><br>Additionally, Scholastic expects its FY24 revenue to be approximately level with or slightly below the prior year. The company is focused on targeting additional revenue opportunities and aligning spending in the year’s second half, underlining its commitment to long-term growth and prudent capital allocation.</p>
<p>Scholastic Corporation’s stock price has experienced significant fluctuations recently. The stock closed at $41.48, a notable increase of $1.45 or 3.62%. However, the pre-market trading declined by $5.28, dropping 12.73% to $36.20.</p> <iframe src="https://tokenist.substack.com/embed" width="100%" height="320" style="border:1px solid #EEE; background:white;" frameborder="0" scrolling="no"></iframe>
<p>The post <a rel="noopener noreferrer nofollow" href="https://tokenist.com/schl-drops-12-73-in-pre-market-insights-from-scholastics-latest-earnings/">SCHL Drops 12.73% in Pre-Market: Insights from Scholastic’s Latest Earnings</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://tokenist.com">Tokenist</a>.</p>

SCHL Drops 12.73% in Pre-Market: Insights from Scholastic’s Latest Earnings

Table of Contents

Tokenist

Other articles published on Dec 15, 2023

Synthetix Coin Analysis: How Long Uptrend Will Last in SNX Price?

Bitboost Revolutionizes Bitcoin with Programmable Asset Protocols

Hottest Crypto Picks According To Reddit: Cardano (ADA), Everlodge (ELDG), BONK

Copy Trade Guide: What is Copy Trading and How Does It Work?

Coinbase Revolutionizes Crypto Transfers with Link-Sharing Across Popular Social Platforms

Bitcoin at $100,000, All Planets Align

Join our free newsletter for daily crypto updates!