Q4 2024 Scholastic Corp Earnings Call Transcript
Key Points
- Scholastic Corp (SCHL) generated strong free cash flow of $73 million, up from $60 million in the prior year.
- The company returned over $181 million to shareholders through dividends and share repurchases during the year.
- The acquisition of 9 Story Media Group is expected to significantly expand Scholastic Corp (SCHL)'s opportunities in children's media.
- Trade publishing saw a 3% increase in sales, driven by the success of the Dog Man series.
- Scholastic Corp (SCHL) is planning for modest growth in revenue and adjusted EBITDA for fiscal 2025, including benefits from the 9 Story acquisition.
- Consolidated revenue declined by 10% or $53 million in the fourth quarter, impacted by market headwinds.
- Fourth quarter adjusted operating income decreased to $67 million from $92 million in the prior year.
- Adjusted EBITDA for fiscal 2024 was $137 million, down from $196 million a year ago.
- Revenues in the children's book segment declined by 9%, reflecting resizing of book clubs and lower participation in school book fairs.
- Education solutions segment revenues declined by 17% in the fourth quarter, impacted by schools pausing spending on supplemental curriculum products.
Thank you for standing by, and welcome to the Scholastic reports fourth quarter fiscal year 2024 results. (Operator Instructions) As a reminder, today's program is being recorded.
And now I'd like to introduce your host for today's program, Jeffrey Matthews. Please go ahead.
Hello, and welcome, everyone to Scholastic's fiscal 2024 fourth quarter earnings call. Today on the call, I'm joined by Peter Warwick, our President and Chief Executive Officer; and Haji Glover, our Chief Financial Officer. As usual, we have posted the company investor presentation on our IR website at investor.scholastic.com which you may download now if you have not already done so.
We would like to point out that certain statements made today will be forward looking. These forward-looking statements by their nature are subject to various risks and uncertainties, and actual results may differ materially from those currently anticipated.
In addition, we
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