Scholastic Corp Files Q1 2024 10-Q
Ticker: SCHL · Form: 10-Q · Filed: Sep 27, 2024 · CIK: 866729
| Field | Detail |
|---|---|
| Company | Scholastic Corp (SCHL) |
| Form Type | 10-Q |
| Filed Date | Sep 27, 2024 |
| Risk Level | low |
| Pages | 16 |
| Reading Time | 19 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, quarterly-report, financials
TL;DR
Scholastic's Q1 2024 10-Q is in. Check financials.
AI Summary
Scholastic Corporation filed its 10-Q for the period ending August 31, 2024. The company reported financial results for the first quarter of its fiscal year. Specific financial figures and operational details for this period are available within the full filing.
Why It Matters
This filing provides investors and analysts with an update on Scholastic's financial performance and operational status for the initial quarter of fiscal year 2024.
Risk Assessment
Risk Level: low — This is a routine quarterly filing providing financial updates, not indicating immediate or significant new risks.
Key Players & Entities
- SCHOLASTIC CORP (company) — Filer
- 20240831 (date) — Reporting Period End Date
- 20240927 (date) — Filing Date
- 555 BROADWAY (location) — Company Business Address
- NEW YORK (location) — Company Business Address City
FAQ
What is the reporting period for this 10-Q filing?
The reporting period for this 10-Q filing is August 31, 2024.
When was this 10-Q filed with the SEC?
This 10-Q was filed on September 27, 2024.
What is Scholastic Corporation's fiscal year end?
Scholastic Corporation's fiscal year ends on May 31.
What is the company's primary SIC code?
The company's primary SIC code is 2731, for Books: Publishing or Publishing and Printing.
What is the company's IRS number?
The company's IRS number is 133385513.
Filing Stats: 4,693 words · 19 min read · ~16 pages · Grade level 8.1 · Accepted 2024-09-27 16:08:11
Key Financial Figures
- $0.01 — ange on Which Registered Common Stock, $0.01 par value SCHL The NASDAQ Stock Market
Filing Documents
- schl-20240831.htm (10-Q) — 1336KB
- schl-ex21_20240831xq1.htm (EX-21) — 63KB
- schl-ex311_20240831xq1.htm (EX-31.1) — 16KB
- schl-ex312_20240831xq1.htm (EX-31.2) — 16KB
- schl-ex32_20240831xq1.htm (EX-32) — 10KB
- schl-20240831_g1.jpg (GRAPHIC) — 47KB
- 0000866729-24-000027.txt ( ) — 7762KB
- schl-20240831.xsd (EX-101.SCH) — 58KB
- schl-20240831_cal.xml (EX-101.CAL) — 90KB
- schl-20240831_def.xml (EX-101.DEF) — 275KB
- schl-20240831_lab.xml (EX-101.LAB) — 678KB
- schl-20240831_pre.xml (EX-101.PRE) — 470KB
- schl-20240831_htm.xml (XML) — 1111KB
- 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) 7 Notes to Condensed Consolidated Financial Statements (Unaudited) 8 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 23 Item 3.
Quantitative and Qualitative Disclosures about Market Risk
Quantitative and Qualitative Disclosures about Market Risk 30 Item 4.
Controls and Procedures
Controls and Procedures 31
- Other Information
Part II - Other Information Item 1.
Business
Business 32 Item 1a.
Risk Factors
Risk Factors 32 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 34 I tem 5. O ther Information 35 Item 6. Exhibits 37
- 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 August 31, 2024 2023 Revenues $ 237.2 $ 228.5 Operating costs and expenses: Cost of goods sold 128.3 130.0 Selling, general and administrative expenses 182.1 184.2 Depreciation and amortization 15.3 13.4 Total operating costs and expenses 325.7 327.6 Operating income (loss) ( 88.5 ) ( 99.1 ) Interest income (expense), net ( 3.0 ) 1.4 Other components of net periodic benefit (cost) ( 0.3 ) ( 0.3 ) Earnings (loss) before income taxes ( 91.8 ) ( 98.0 ) Provision (benefit) for income taxes ( 29.3 ) ( 23.8 ) Net income (loss) $ ( 62.5 ) $ ( 74.2 ) Basic and diluted earnings (loss) per share of Class A and Common Stock Basic $ ( 2.21 ) $ ( 2.35 ) Diluted $ ( 2.21 ) $ ( 2.35 ) See accompanying notes 3 SCHOLASTIC CORPORATION CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - UNAUDITED (Dollar amounts in millions) Three months ended August 31, 2024 2023 Net income (loss) $ ( 62.5 ) $ ( 74.2 ) Other comprehensive income (loss), net: Foreign currency translation adjustments 8.2 1.8 Pension and postretirement adjustments (net of tax) 0.2 0.2 Total other comprehensive income (loss), net $ 8.4 $ 2.0 Comprehensive income (loss) $ ( 54.1 ) $ ( 72.2 ) See accompanying notes 4 SCHOLASTIC CORPORATION CONDENSED CONSOLIDATED BALANCE SHEETS - UNAUDITED (Dollar amounts in millions, except per share data) August 31, 2024 May 31, 2024 August 31, 2023 (unaudited) (audited) (unaudited) ASSETS Current Assets: Cash and cash equivalents $ 84.1 $ 113.7 $ 125.8 Accounts receivable, net 201.1 235.0 201.9 Inventories, net 310.3 264.2 353.2 Income tax receivable 46.1 15.2 33.4 Prepaid expenses and other current assets 73.5 48.8 70.4 Total current assets 715.1 676.9 784.7 Noncurrent Assets: Property, plant and equipment, net 525.4 511.9 523.3 Pre