Wiley & Sons Files Q2 FY25 10-Q

TL;DR

Wiley & Sons 10-Q filed for Q2 FY25. Check financials.

AI Summary

John Wiley & Sons, Inc. filed its 10-Q for the period ending October 31, 2024. The filing covers the second quarter of fiscal year 2025. Key financial data and operational details for this period are presented, with the company's fiscal year ending on April 30th.

Why It Matters

This filing provides investors with an update on John Wiley & Sons' financial performance and operational status for the second quarter of fiscal year 2025, crucial for understanding the company's trajectory.

Risk Assessment

Risk Level: low — This is a routine quarterly filing providing standard financial disclosures.

Key Numbers

• FY25 Q2 — Fiscal Quarter (Reporting period for the 10-Q filing)
• April 30 — Fiscal Year End (Annual closing date for financial reporting)

Key Players & Entities

• JOHN WILEY & SONS, INC. (company) — Filer of the 10-Q
• 20241031 (date) — End of the reporting period
• 20241206 (date) — Filing date
• 111 RIVER STREET, HOBOKEN, NJ 07030 (address) — Company's business and mailing address

FAQ

Key Financial Figures

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

Filing Documents

• jwa-20241031.htm (10-Q) — 2063KB
• exhibit101-wileydirector.htm (EX-10.1) — 7KB
• wly-20251031xexx311.htm (EX-31.1) — 10KB
• wly-20251031xexx312.htm (EX-31.2) — 10KB
• wly-20251031xexx321.htm (EX-32.1) — 5KB
• wly-20251031xexx322.htm (EX-32.2) — 5KB
• exhibit101-wileydirector001.jpg (GRAPHIC) — 216KB
• exhibit101-wileydirector002.jpg (GRAPHIC) — 195KB
• 0000107140-24-000237.txt ( ) — 11041KB
• jwa-20241031.xsd (EX-101.SCH) — 68KB
• jwa-20241031_cal.xml (EX-101.CAL) — 96KB
• jwa-20241031_def.xml (EX-101.DEF) — 347KB
• jwa-20241031_lab.xml (EX-101.LAB) — 775KB
• jwa-20241031_pre.xml (EX-101.PRE) — 575KB
• jwa-20241031_htm.xml (XML) — 1837KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION Item 1.

Financial Statements

Financial Statements 5 Condensed Consolidated Statements of Financial Position – Unaudited as of October 31, 2024 and as of April 30, 2024 5 Condensed Consolidated Statements of Net In come (Loss) – Unaudited for the three and six months ended October 31, 2024 and 2023 6 Condensed Consolidated Statements of Comprehensive Income (Loss) – Unaudited for the three and six months ended October 31, 2024 and 2023 7 Condensed Consolidated Statements of Cash Flows – Unaudited for the six months ended October 31, 2024 and 2023 8 Condensed Consolidated Statements of Shareholders' Equity – Unaudited for the three and six months ended October 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. Divestitures 11 Note 4. Revenue Recognition, Contracts with Customers 15 Note 5. Operating Leases 19 Note 6. Stock-Based Compensation 21 Note 7. Accumulated Other Comprehensive Loss 23 Note 8. Reconciliation of Weighted Average Shares Outstanding 24 Note 9. Restructuring and Related Charges 25 Note 10. Segment Information 27 Note 11. Inventories 28 Note 12. Goodwill and Intangible Assets 29 Note 13. Income Taxes 31 Note 14. Retirement Plans 31 Note 15. Debt and Available Credit Facilities 32 Note 16. Derivative Instruments and Hedging Activities 33 Note 17. Capital Stock and Changes in Capital Accounts 34 Note 18. Commitments and Contingencies 35 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 36 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 59 Item 4.

Controls and Procedures

Controls and Procedures 60

- OTHER INFORMATION

PART II - OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 61 Item 1A.

Risk Factors

Risk Factors 61 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 61 Item 5. Other Information 61 Item 6. Exhibits 62

SIGNATURES

SIGNATURES 63 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

- 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 October 31, 2024 April 30, 2024 Assets: Current assets Cash and cash equivalents $ 75,536 $ 83,249 Accounts receivable, net of allowance for credit losses of $ 17.9 million and $ 17.3 million, respectively 183,015 224,198 Inventories, net 27,103 26,219 Prepaid expenses and other current assets 84,659 85,954 Current assets held-for-sale — 34,422 Total current assets 370,313 454,042 Technology, property and equipment, net 172,371 192,438 Intangible assets, net 598,262 615,694 Goodwill 1,102,372 1,091,368 Operating lease right-of-use assets 70,527 69,074 Other non-current assets 295,013 283,719 Non-current assets held-for-sale — 19,160 Total assets $ 2,608,858 $ 2,725,495 Liabilities and shareholders' equity: Current liabilities Accounts payable $ 40,358 $ 55,659 Accrued royalties 119,043 97,173 Short-term portion of long-term debt 10,000 7,500 Contract liabilities 241,488 483,778 Accrued employment costs 60,935 96,980 Short-term portion of operating lease liabilities 18,080 18,294 Other accrued liabilities 71,567 76,266 Current liabilities held-for-sale — 37,632 Total current liabilities 561,471 873,282 Long-term debt 951,010 767,096 Accrued pension liability 71,082 70,832 Deferred income tax liabilities 98,676 97,186 Operating lease liabilities 88,403 94,386 Other long-term liabilities 82,961 71,760 Long-term liabilities held-for-sale — 11,237 Total liabilities 1,853,603 1,985,779 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 - 70,283 and 70,259 as of October 31, 2024 and April 30, 2024, respectively 70,283 70,259 Class B common stock, $ 1 par value per share: Authoriz

View Full Filing

View this 10-Q filing on SEC EDGAR