Scholastic Earnings: SCHL Stock Heads 12% Higher on Q2 Beat

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Scholastic (NASDAQ:SCHL) earnings for the educational publishing company’s fiscal second quarter of 2020 have SCHL stock soaring after markets closed on Thursday. This is due to its adjusted EPS of $2.06. Wall Street was expecting $1.77 per share from the company. Revenue of $597.20 million also comes in above analysts’ estimates of $591.20 million.

Scholastic Earnings: SCHL Stock Heads 12% Higher on Q2 Beat

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Here are some additional highlights from the most recent Scholastic earnings report.

  • Adjusted per-share earnings are up 3.52% from the $1.99 during the same time last year.
  • Revenue is sitting down 1.24%% compared to $604.70 million in the fiscal second quarter of 2019.
  • Operating income for the quarter comes in at $105.10 million.
  • That’s a 7.03% increase from the company’s operating income of $98.20 million in fiscal Q2 2019.
  • The Scholastic earnings report also has net income coming in at $71.10 million.
  • That’s a slight decrease from the company’s net income of $71.60 million in the same period of the year prior.

Richard Robinson, the Chairman, President and CEO of Scholastic, says this about the SCHL stock earnings.

“Trade revenues grew 8% despite difficult comparisons with last year. Book fairs increased revenues in a more competitive environment in this important back-to-school period. With actions taken to improve fair quality and selection, and the introduction of our e-Wallet digital payment option at more fairs, we saw an increasing number of transactions per fair.”

The Scholastic earnings report has it reaffirming its outlook for fiscal 2020. That includes revenue ranging from $1.67 billion to $1.70 billion. Wall Street is looking for SCHL to report revenue of $1.69 billion during the fiscal year.

SCHL stock was up 12.32% in after-hours trading Thursday. The stock closed out the day down 2.06%.

As of this writing, William White did not hold a position in any of the aforementioned securities.


Article printed from InvestorPlace Media, https://investorplace.com/2019/12/scholastic-earnings-send-schl-stock-up/.

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