Earnings

September 22, 2023

Scholastic Slumps On Book Weakness

Scholastic Corporation shareholders received another chapter of the company’s book. And unfortunately, they didn’t like what they read. ☹️

The education and media company’s first-quarter loss widened, and revenues declined due to continued softness in the retail book market. An adjusted loss per share of $2.20 on revenues of $228.5 million missed analyst expectations of a $1.35 per share loss on $268.8 million in revenues.

While the company typically records a loss during its fiscal first quarter, when schools are out of session, the loss grew due to investments in other growth areas. Additionally, its Education Solutions division experienced unfavorable timing and seasonality of sales. 📊

The timing of state-sponsored program revenue impacted its  U.S. segments, while weakness in Canada and Australia’s retail book market pressured international results. 

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The Bayer Of Bad News

November 20, 2023

Looking ahead, the company expects 3%-5% revenue growth in fiscal 2024, reiterating its adjusted EBITDA guidance of $190 to $200 million. 🔮

$SCHL shares fell 13% back toward the middle of their long-term trading range as investors digested the lackluster news and guidance. 📉

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Target Hits Its Mark

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Workhorse’s Wild Ride Continues

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CPI Brings It Home For Bulls

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Earnings

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Zoom Avoids Doom (For Now)

Pandemic-era darling Zoom Video Communications reported results tonight after hitting all-time lows late last month. And for once, it didn’t disappoint. 👍

The company’s adjusted earnings per share of $1.29 beat expectations of $1.10. Analysts quickly pointed out that the beat was primarily driven by the company cutting sales/marketing and general/administrative expenses. But for Zoom, a win is a win…

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Today’s earnings in Walmart contrasted Target’s, but the underlying cautious tone about the U.S. consumer remained. The big-box retailer reported adjusted earnings per share of $1.53 on $168.80 in revenues, topping the $1.52 and $159.72 billion expected by analysts. 

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