Q4 2024 John Wiley & Sons Inc Earnings Call Transcript
Key Points
- John Wiley & Sons Inc (WLY) exceeded their EBITDA and EPS guidance for Q4 fiscal 2024.
- The company executed two significant gen AI content rights projects, generating $23 million and $21 million respectively.
- Learning segment continues to outperform, driven by solid execution and favorable market conditions.
- The company has accelerated its $130 million cost-saving program, with 70% of it already actioned.
- John Wiley & Sons Inc (WLY) rewarded shareholders with a dividend raise for the 30th consecutive year.
- Full-year adjusted revenue declined modestly to $1.617 billion.
- Adjusted EPS was down 19% due to a combination of lower operating income and higher interest and tax expenses.
- Free cash flow decreased to $114 million from $173 million in the prior year.
- Research segment revenue was down 3% due to timing and declines in ancillary print and licensing revenue.
- The company is in a muted two-year period for cash flow due to restructuring and investment activities.
Good morning, and welcome to Wiley's Q4 fiscal 2024 earnings call. As a reminder, this conference is being recorded. At this time, I'd like to introduce Wiley's Vice President of Investor Relations, Brian Campbell. Please go ahead.
Thank you and welcome, everyone. With me today are Matt Kissner, Wiley's Interim President and CEO; Christina Van Tassell, Executive Vice President and CFO; and J. Flynn, Executive Vice President, General Manager of Research and Learning. Note that our comments and responses reflect management's views as of today may include forward-looking statements.
Actual results may differ materially from those statements. The company does not undertake any obligation to update them to reflect subsequent events or circumstances. Also, Wiley provides non-GAAP measures as a supplement to evaluate underlying operating profitability and performance trends. These measures do not have standardized meanings prescribed by US GAAP and therefore may not be
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