Q1 2026 John Wiley & Sons Inc Earnings Call Transcript
Key Points
- John Wiley & Sons Inc (WLY) achieved a significant milestone by executing a $20 million AI licensing project, including content from publishing partners, demonstrating leadership in AI.
- The company increased its annual dividend for the 32nd consecutive year, showcasing a long-term commitment to returning cash to shareholders.
- John Wiley & Sons Inc (WLY) reported strong growth in Research, driven by AI licensing and open access momentum, with submissions and output up 25% and 13%, respectively.
- The company announced a strategic partnership with Anthropic to integrate institutional library subscriptions into AI tools, enhancing value for institutional offerings.
- John Wiley & Sons Inc (WLY) received a key industry award for excellence in research integrity, highlighting its leadership position in the industry.
- The company's adjusted EBITDA was down 3% due to strategic margin mix and timing impacts, affecting overall profitability.
- Learning revenue declined 8% this quarter, attributed to lower AI revenue and market-related softness in professional publishing.
- There was some softness in professional publishing, with market headwinds around consumer spending in the retail channel.
- Corporate expenses saw a temporary $4 million increase due to strategic consulting projects, impacting short-term financials.
- The company faced a challenging comparison in Q1, with a $5 million journal renewal benefit from the previous year not recurring.
Good morning and welcome to Wiley's first quarter fiscal 2026 earnings call. As a reminder, this conference is being recorded. After the speaker's remarks, we will conduct a question and answer session. (Operator Instructions)
At this time, I'd like to introduce Wiley's Vice President of Investor Relations, Brian Campbell. Please go ahead.
Hello and thank you all for joining us. On the call with me 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.
Note that her comments and responses reflect management's 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, widely provides non-gap measures as a supplement to evaluate underlying operating profitability and performance trends.
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