Scholastic Earnings: SCHL Stock Moving 4% Higher on Q3 Beat

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Scholastic (NASDAQ:SCHL) earnings for fiscal third quarter of 2020 have SCHL stock moving up after markets closed Thursday. This comes after reporting adjusted losses per share of 34 cents. That’s better than Wall Street’s estimate of 64 cents per share. The publishing company’s revenue of $373.3 million also comes in above Wall Street’s estimate of $342.1 million.

Scholastic Earnings: SCHL Stock Unmoving Despite Q3 Beat

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Now, let’s take a more thorough look at what went on in the most recent Scholastic earnings report.

  • Adjusted per-share losses for the quarter are 6.25% better than losses of 32 cents from the same time last year.
  • Revenue comes in 3.67% higher than the $360.1 million reported in the fiscal third quarter of 2019.
  • Operating loss of $60 million is 180.37% worse year-over-year from $21.4 million.
  • The Scholastic earnings report also includes a net loss of $43.3 million.
  • This is a 243.65% wider net loss than the $12.6 million reported during the same period of the year prior.

Richard Robinson, chairman, president and CEO of Scholastic, said this about the SCHL stock earnings:

“While revenues will be lower in the seasonally important fourth quarter, we are taking aggressive actions to reduce operating expenses throughout the Company, including the temporary closing of warehousing and distribution centers, and a freeze on hiring, travel and other discretionary spending not directly tied to short-term revenue, while working hard to ensure the safety and well-being of our staff worldwide.”

There is no guidance in the most recent Scholastic earnings report. The company isn’t providing an update to its outlook due to the disruptions caused by the coronavirus from China.

SCHL stock was up 4.03% after-hours Thursday.

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/2020/03/scholastic-earnings-schl-stock-not-moving/.

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