Q3 2026 Scholastic Corp Earnings Call Transcript
Key Points
- Scholastic Corp (SCHL) successfully completed sale-leaseback transactions, unlocking over $400 million in net proceeds to optimize the balance sheet.
- The company has nearly exhausted a $150 million share repurchase authorization, enhancing shareholder value.
- Book Fairs demonstrated strong performance with increased fair counts, higher revenue per fair, and strategic initiatives like e-wallet adoption.
- Scholastic's publishing portfolio, including franchises like Dog Man and The Hunger Games, continues to resonate strongly with global audiences.
- Scholastic Entertainment expanded its reach across digital platforms, with significant growth in viewership and engagement on YouTube and ScholasticTV.
- Revenues in the third-quarter decreased to $329.1 million from $335.4 million in the prior year period.
- The Education segment saw a 2% decline in revenues due to tight district and school spending on supplemental curriculum.
- Trade publishing revenues decreased by 10% in the third-quarter, impacted by shifts in the publishing calendar and adverse weather conditions.
- International segment revenues declined, excluding favorable foreign currency exchange impacts, due to publication timing issues.
- The company anticipates approximately $10 million in incremental tariff expenses affecting product costs this fiscal year.
Good day, and thank you for standing by. Welcome to the Scholastic reports third-quarter fiscal year 2026 results. (Operator Instructions). Please be advised that today's conference is being recorded. (Operator Instructions)
I would now like to hand the conference over to your speaker today, Jeffrey Mathews, Executive Vice President, Chief Growth Officer and President, Scholastic Education.
Hello, and welcome, everyone, to
Scholastic's Fiscal 2026 third-quarter earnings call. Today on the call, I'm joined by Peter Warwick, our President and Chief Executive Officer; and Haji Glover, our Chief Financial Officer and Executive Vice President. As usual, we have posted the accompanying investor presentation on our IR website at investor.scholastic.com, which you may download now if you've not already done so.
We would like to point out that certain statements made today will be forward-looking. These forward-looking
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