Scholastic Corp Files 10-Q for Period Ending Feb 29, 2024

TL;DR

<b>Scholastic Corp filed its Q3 2024 10-Q report on March 22, 2024.</b>

AI Summary

SCHOLASTIC CORP (SCHL) filed a Quarterly Report (10-Q) with the SEC on March 22, 2024. Scholastic Corp filed a 10-Q report for the period ending February 29, 2024. The filing covers the third quarter of fiscal year 2024. The company's fiscal year ends on May 31st. The filing was made on March 22, 2024. The company's principal business is Books: Publishing or Publishing and Printing.

Why It Matters

For investors and stakeholders tracking SCHOLASTIC CORP, this filing contains several important signals. This 10-Q filing provides an update on Scholastic Corp's financial performance and position for the third quarter of fiscal year 2024. Investors and analysts can use this report to assess the company's recent operational results, cash flows, and balance sheet changes.

Risk Assessment

Risk Level: low — SCHOLASTIC CORP shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial events or disclosures that would alter the company's risk profile.

Analyst Insight

Monitor future filings for detailed financial results and management commentary regarding performance in the children's book publishing and educational materials market.

Key Numbers

• 2024-02-29 — Reporting Period End Date (Conformed Period of Report)
• 2024-03-22 — Filing Date (Filed as of Date)
• 0531 — Fiscal Year End (Fiscal Year End)
• 2024 — Fiscal Quarter (Fiscal Quarter)

Key Players & Entities

• SCHOLASTIC CORP (company) — Filer
• 2024-02-29 (date) — Conformed Period of Report
• 2024-03-22 (date) — Filed as of Date
• 2731 (industry_code) — Standard Industrial Classification
• DE (state) — State of Incorporation
• 0531 (fiscal_year_end) — Fiscal Year End
• 1934 Act (regulation) — SEC Act
• NEW YORK (city) — Business Address City

FAQ

Industry Context

Scholastic Corp operates in the book publishing and educational materials industry, serving children and educators.

Regulatory Implications

The company is subject to standard SEC reporting requirements for public companies, including the filing of quarterly 10-Q reports.

What Investors Should Do

1. Review the full 10-Q filing for detailed financial statements and footnotes.
2. Analyze segment performance if revenue data becomes available in subsequent filings.
3. Compare Scholastic's performance against industry peers in the publishing sector.

Key Dates

• 2024-02-29: Quarterly Period End — End of the reporting period for the 10-Q filing.
• 2024-03-22: Filing Date — Date the 10-Q was officially filed with the SEC.

Year-Over-Year Comparison

This is the initial filing data extracted; comparison to prior filings requires access to those specific documents.

Key Financial Figures

• $0.01 — ange on Which Registered Common Stock, $0.01 par value SCHL The NASDAQ Stock Market

Filing Documents

• schl-20240229.htm (10-Q) — 1674KB
• schl-ex311_20240229xq3.htm (EX-31.1) — 16KB
• schl-ex312_20240229xq3.htm (EX-31.2) — 16KB
• schl-ex32_20240229xq3.htm (EX-32) — 10KB
• schl-20240229_g1.jpg (GRAPHIC) — 47KB
• 0000866729-24-000011.txt (&nbsp;) — 8048KB
• schl-20240229.xsd (EX-101.SCH) — 50KB
• schl-20240229_cal.xml (EX-101.CAL) — 69KB
• schl-20240229_def.xml (EX-101.DEF) — 258KB
• schl-20240229_lab.xml (EX-101.LAB) — 610KB
• schl-20240229_pre.xml (EX-101.PRE) — 439KB
• schl-20240229_htm.xml (XML) — 1279KB

- Financial Information

Part I - Financial Information Page Item 1.

Financial Statements

Financial Statements Condensed Consolidated Statements of Operations (Unaudited) 3 Condensed Consolidated Statements of Comprehensive Income (Loss) (Unaudited) 4 Condensed Consolidated Balance Sheets (Unaudited) 5 Condensed Consolidated Statements of Changes in Stockholders' Equity (Unaudited) 6 Condensed Consolidated Statements of Cash Flows (Unaudited) 8 Notes to Condensed Consolidated Financial Statements (Unaudited) 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 33 Item 4.

Controls and Procedures

Controls and Procedures 34

- Other Information

Part II - Other Information Item 1A.

Risk Factors

Risk Factors 35 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 36 Item 5 Other Information 37 Item 6. Exhibits 38

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

Financial Statements

Item 1. Financial Statements SCHOLASTIC CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - UNAUDITED (Dollar amounts in millions, except per share data) Three months ended Nine months ended February 29, February 28, February 29, February 28, 2024 2023 2024 2023 Revenues $ 323.7 $ 324.9 $ 1,114.8 $ 1,175.7 Operating costs and expenses: Cost of goods sold 148.7 161.1 512.8 566.0 Selling, general and administrative expenses 194.8 178.0 592.1 554.4 Depreciation and amortization 14.6 13.5 42.1 41.0 Asset impairments and write downs 0.5 — 0.5 — Total operating costs and expenses 358.6 352.6 1,147.5 1,161.4 Operating income (loss) ( 34.9 ) ( 27.7 ) ( 32.7 ) 14.3 Interest income (expense), net 0.6 1.4 2.4 2.3 Other components of net periodic benefit (cost) ( 0.3 ) 0.1 ( 0.8 ) 0.2 Earnings (loss) before income taxes ( 34.6 ) ( 26.2 ) ( 31.1 ) 16.8 Provision (benefit) for income taxes ( 8.1 ) ( 6.9 ) ( 7.3 ) 6.1 Net income (loss) ( 26.5 ) ( 19.3 ) ( 23.8 ) 10.7 Less: Net income (loss) attributable to noncontrolling interest — ( 0.1 ) — 0.1 Net income (loss) attributable to Scholastic Corporation $ ( 26.5 ) $ ( 19.2 ) $ ( 23.8 ) $ 10.6 Basic and diluted earnings (loss) per share of Class A and Common Stock Basic $ ( 0.91 ) $ ( 0.57 ) $ ( 0.80 ) $ 0.31 Diluted $ ( 0.91 ) $ ( 0.57 ) $ ( 0.80 ) $ 0.30 See accompanying notes 3 SCHOLASTIC CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - UNAUDITED (Dollar amounts in millions) Three months ended Nine months ended February 29, February 28, February 29, February 28, 2024 2023 2024 2023 Net income (loss) $ ( 26.5 ) $ ( 19.3 ) $ ( 23.8 ) $ 10.7 Other comprehensive income (loss), net: Foreign currency translation adjustments ( 0.4 ) ( 1.0 ) 1.6 ( 7.6 ) Pension and postretirement adjustments (net of tax) 0.2 ( 0.0 ) 0.5 ( 0.1 ) Total other comprehensive income (loss), net $ ( 0.2 ) $ ( 1.0 ) $ 2.1 $ ( 7.7 ) Comprehensive income (loss) $ ( 26.7 ) $ ( 20.3 ) $

View Full Filing

View this 10-Q filing on SEC EDGAR