JOHN WILEY & SONS, INC. Files 10-Q for Period Ending 2024-01-31

Ticker: WLYB · Form: 10-Q · Filed: Mar 8, 2024 · CIK: 107140

John Wiley & Sons, Inc. 10-Q Filing Summary
FieldDetail
CompanyJohn Wiley & Sons, Inc. (WLYB)
Form Type10-Q
Filed DateMar 8, 2024
Risk Levellow
Pages16
Reading Time19 min
Key Dollar Amounts$1.00
Sentimentneutral

Sentiment: neutral

Topics: 10-Q, Financial Report, JOHN WILEY & SONS, Publishing, SEC Filing

TL;DR

<b>JOHN WILEY & SONS, INC. (WLYB) filed its quarterly report (10-Q) for the period ending January 31, 2024, detailing its financial performance and operational status.</b>

AI Summary

JOHN WILEY & SONS, INC. (WLYB) filed a Quarterly Report (10-Q) with the SEC on March 8, 2024. Filing is a 10-Q for JOHN WILEY & SONS, INC. for the period ending January 31, 2024. The company's fiscal year ends on April 30. The filing was made on March 8, 2024. The company's principal business is Books: Publishing or Publishing and Printing. The company is incorporated in New York.

Why It Matters

For investors and stakeholders tracking JOHN WILEY & SONS, INC., this filing contains several important signals. This 10-Q filing provides an update on the company's financial health and operational performance for the third quarter of its fiscal year. Investors and analysts can use this report to assess the company's progress against its strategic goals and market position.

Risk Assessment

Risk Level: low — JOHN WILEY & SONS, INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant deviations from typical reporting.

Analyst Insight

Monitor future filings for revenue trends and profitability metrics within the publishing sector.

Key Numbers

  • 2024-01-31 — Reporting Period End Date (Conformed period of report)
  • 2024-03-08 — Filing Date (Filed as of date)
  • 0430 — Fiscal Year End (Fiscal year end)
  • 2017486000 — Business Phone (Business phone number)

Key Players & Entities

  • JOHN WILEY & SONS, INC. (company) — Filer name
  • 2024-01-31 (date) — Conformed period of report
  • 2024-03-08 (date) — Filed as of date
  • 10-Q (document) — Form type
  • 0000107140 (company) — Central Index Key
  • 2731 (industry) — Standard Industrial Classification
  • NY (location) — State of incorporation
  • 07030 (zip_code) — Business address zip code

FAQ

When did JOHN WILEY & SONS, INC. file this 10-Q?

JOHN WILEY & SONS, INC. filed this Quarterly Report (10-Q) with the SEC on March 8, 2024.

What is a 10-Q filing?

A 10-Q is a quarterly financial report with unaudited financials, management discussion, and interim business updates. This particular 10-Q was filed by JOHN WILEY & SONS, INC. (WLYB).

Where can I read the original 10-Q filing from JOHN WILEY & SONS, INC.?

You can access the original filing directly on the SEC's EDGAR system. The filing is publicly available and includes all exhibits and attachments submitted by JOHN WILEY & SONS, INC..

What are the key takeaways from JOHN WILEY & SONS, INC.'s 10-Q?

JOHN WILEY & SONS, INC. filed this 10-Q on March 8, 2024. Key takeaways: Filing is a 10-Q for JOHN WILEY & SONS, INC. for the period ending January 31, 2024.. The company's fiscal year ends on April 30.. The filing was made on March 8, 2024..

Is JOHN WILEY & SONS, INC. a risky investment based on this filing?

Based on this 10-Q, JOHN WILEY & SONS, INC. presents a relatively low-risk profile. The filing is a standard quarterly report (10-Q) and does not contain any immediate red flags or significant deviations from typical reporting.

What should investors do after reading JOHN WILEY & SONS, INC.'s 10-Q?

Monitor future filings for revenue trends and profitability metrics within the publishing sector. The overall sentiment from this filing is neutral.

How does JOHN WILEY & SONS, INC. compare to its industry peers?

John Wiley & Sons operates within the publishing industry, specifically focusing on academic and professional content.

Are there regulatory concerns for JOHN WILEY & SONS, INC.?

The filing is made under the Securities Exchange Act of 1934, requiring regular disclosure of financial information.

Industry Context

John Wiley & Sons operates within the publishing industry, specifically focusing on academic and professional content.

Regulatory Implications

The filing is made under the Securities Exchange Act of 1934, requiring regular disclosure of financial information.

What Investors Should Do

  1. Review the full 10-Q for detailed financial statements and management discussion.
  2. Analyze segment performance if revenue data becomes available in subsequent filings.
  3. Compare key financial metrics to industry benchmarks.

Year-Over-Year Comparison

This is the initial analysis of the 10-Q filing for the period ending January 31, 2024. No prior filing data is available for comparison within this context.

Filing Stats: 4,719 words · 19 min read · ~16 pages · Grade level 17.7 · Accepted 2024-03-08 11:08:05

Key Financial Figures

  • $1.00 — stered Class A Common Stock, par value $1.00 per share WLY New York Stock Exchange

Filing Documents

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 5 Condensed Consolidated Statements of Financial Position – Unaudited as of January 31, 2024 and as of April 30, 2023 5 Condensed Consolidated Statements of Net Loss – Unaudited for the three and nine months ended January 31, 2024 and 2023 6 Condensed Consolidated Statements of Comprehensive Loss – Unaudited for the three and nine months ended January 31, 2024 and 2023 7 Condensed Consolidated Statements of Cash Flows – Unaudited for the nine months ended January 31, 2024 and 2023 8 Condensed Consolidated Statements of Shareholders' Equity – Unaudited for the three and nine months ended January 31, 2024 and 2023 9 Notes to Unaudited Condensed Consolidated Financial Statements Note 1. Basis of Presentation 10 Note 2. Recent Accounting Standards 10 Note 3. Acquisitions and Divestitures 12 Note 4. Revenue Recognition, Contracts with Customers 17 Note 5. Operating Leases 21 Note 6. Stock-Based Compensation 23 Note 7. Accumulated Other Comprehensive Loss 24 Note 8. Reconciliation of Weighted Average Shares Outstanding 25 Note 9. Restructuring and Related Charges 26 Note 10. Segment Information 28 Note 11. Inventories 30 Note 12. Goodwill and Intangible Assets 31 Note 13. Income Taxes 34 Note 14. Retirement Plans 34 Note 15. Debt and Available Credit Facilities 35 Note 16. Derivative Instruments and Hedging Activities 37 Note 17. Capital Stock and Changes in Capital Accounts 39 Note 18. Commitments and Contingencies 41 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 42 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 67 Item 4.

Controls and Procedures

Controls and Procedures 68

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 69 Item 1A.

Risk Factors

Risk Factors 69 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 69 Item 5. Other Information 69 Item 6. Exhibits 71

SIGNATURES

SIGNATURES 72 2 INDEX Cautionary Notice Regarding Forward-Looking Statements "Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: This report contains "forward-looking statements" within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 concerning our business, consolidated financial condition and results of operations. The Securities and Exchange Commission (SEC) encourages companies to disclose forward-looking information so that investors can better understand a company's prospects and make informed investment decisions. Forward-looking statements are subject to risks and uncertainties, many of which are outside our control, which could cause actual results to differ materially from these statements. Therefore, you should not rely on any of these forward-looking statements. Forward-looking statements can be identified by such words as "anticipates," "believes," "plan," "assumes," "could," "should," "estimates," "expects," "intends," "potential," "seek," "predict," "may," "will" and similar references to future periods. All statements other than statements of historical facts included in this report regarding our strategies, prospects, financial condition, operations, costs, plans and objectives are forward-looking statements. Examples of forward-looking statements include, among others, anticipated restructuring charges and savings, operations, performance, and financial condition. Reliance should not be placed on forward-looking statements, as actual results may differ materially from those described in any forward-looking statements. Any such forward-looking statements are based upon many assumptions and estimates that are inherently subject to uncertainties and contingencies, many of which are beyond our control, and are subject to change based on many important factors. Such factors include, but are not limited to (i) the level of investment by Wiley in new technologies an

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS JOHN WILEY & SONS, INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF FINANCIAL POSITION – UNAUDITED In thousands January 31, 2024 April 30, 2023 Assets: Current assets Cash and cash equivalents $ 93,100 $ 106,714 Accounts receivable, net of allowance for credit losses of $ 15.2 million and $ 18.7 million, respectively 161,009 310,121 Inventories, net 28,377 30,733 Prepaid expenses and other current assets 68,868 93,711 Current assets held-for-sale 32,648 — Total current assets 384,002 541,279 Technology, property and equipment, net 208,339 247,149 Intangible assets, net 628,886 854,794 Goodwill 1,096,674 1,204,050 Operating lease right-of-use assets 71,306 91,197 Other non-current assets 298,582 170,341 Non-current assets held-for-sale 19,499 — Total assets $ 2,707,288 $ 3,108,810 Liabilities and shareholders' equity: Current liabilities Accounts payable $ 44,992 $ 84,325 Accrued royalties 151,159 113,423 Short-term portion of long-term debt 6,250 5,000 Contract liabilities 300,675 504,695 Accrued employment costs 78,203 80,458 Short-term portion of operating lease liabilities 18,181 19,673 Other accrued liabilities 78,771 87,979 Current liabilities held-for-sale 33,908 — Total current liabilities 712,139 895,553 Long-term debt 900,524 743,292 Accrued pension liability 72,374 86,304 Deferred income tax liabilities 94,862 144,042 Operating lease liabilities 98,219 115,540 Other long-term liabilities 71,160 79,052 Long-term liabilities held-for-sale 9,704 — Total liabilities 1,958,982 2,063,783 Commitments and contingencies (Note 18) Shareholders' equity Preferred stock, $ 1 par value per share: Authorized shares – 2 million, Issued shares - 0 — — Class A common stock, $ 1 par value per share: Authorized shares - 180 million, Issued shares - 70,238 and 70,231 as of January 31, 2024 and April 30, 2023, respectively 70,238 70,231 Class B common stock, $ 1 par value per share: Author

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