Q3 2026 John Wiley & Sons Inc Earnings Call Transcript
Key Points
- John Wiley & Sons Inc (WLY) reported strong growth in AI revenue, reaching $42 million year-to-date, surpassing last year's total with one quarter remaining.
- The company achieved a significant milestone by migrating over 80% of journals to its research exchange platform, enhancing AI readiness.
- John Wiley & Sons Inc (WLY) secured a strategic multi-year partnership with Open Evidence, expanding its reach in the medical field.
- The company reported a substantial increase in operating cash flow, nearly doubling to $103 million, and improved adjusted operating margin by 280 basis points.
- John Wiley & Sons Inc (WLY) returned $126 million to shareholders through dividends and repurchases, a 37% increase over the prior year.
- Revenue performance was impacted by unfavorable comparables in research and soft market conditions in learning.
- Learning segment revenue declined by 2% in the quarter, with professional revenue impacted by corporate and consumer spending headwinds.
- Research solutions experienced a 3% decline due to lower corporate spending on recruiting and lower database revenue.
- The company faced macro and channel headwinds in the learning segment, masking underlying earnings potential.
- Despite strong performance, the company acknowledged challenges in maintaining growth in certain regions, such as Japan, which had previously experienced tough market conditions.
Good morning and welcome to Wiley's third-quarter and fiscal 2026 earnings call.
(Operator Instructions)
Thank you. At this time, I would like to introduce Wiley's Vice President of Investor relations, Brian Campbell. Please go ahead.
Good morning, everyone. With me today are Matt Kissner, President and CEO; Craig Albright, Executive Vice President and CFO; and Jay Flynn, Executive Vice President and General Manager of Research and Learning.
Our comments and responses reflect management views as of today and will include forward-looking statements. Actual results may differ materially from those statements.
The company does not undertake any obligation to update them to reflect subsequent events. Also, Wiley provides non-GAAP measures as a supplement to evaluate underlying operating profitability and performance trends. These measures do not have standardized meanings prescribed by US GAAP and therefore may not be comparable to similar measures
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