Scholastic Shares Fall After Worse-Than-Expected Q4 Results: Details
Portfolio Pulse from Erica Kollmann
Scholastic Corporation (NASDAQ:SCHL) reported worse-than-expected Q4 results, with earnings and sales significantly missing analyst estimates. The company also provided a mixed outlook for fiscal 2025.
July 18, 2024 | 8:58 pm
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Scholastic Corporation reported Q4 earnings of $1.73 per share, missing the analyst consensus estimate of $2.66 by 34.96%. Quarterly sales were $474.9 million, missing the estimate of $552.496 million by 14.04%. The company expects fiscal 2025 revenue growth of 4% to 6% and is targeting Adjusted EBITDA of $140 to $150 million.
The significant miss on both earnings and sales estimates is likely to negatively impact investor sentiment in the short term. The after-hours price drop of 6.97% reflects this sentiment. Although the company has a positive outlook for fiscal 2025, the immediate reaction is expected to be negative.
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