Scholastic Q3 Adj EPS $(0.80), Inline, Sales $323.70M Miss $329.21M Estimate
Portfolio Pulse from mahesh@benzinga.com
Scholastic reported Q3 adjusted EPS of $(0.80), meeting analyst estimates but marking a 40.35% decrease from the previous year. Sales of $323.70M fell short of the $329.21M estimate, a slight 0.37% decrease from last year.
March 21, 2024 | 8:08 pm
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Scholastic's Q3 earnings met estimates but showed a significant decrease in EPS and a slight miss in revenue forecasts.
Meeting EPS estimates typically stabilizes stock prices, but the significant year-over-year decrease in EPS and the miss in revenue forecasts are likely to negatively impact investor sentiment and Scholastic's stock price in the short term.
CONFIDENCE 90
IMPORTANCE 90
RELEVANCE 100