Publishing major Scholastic Corporation (SCHL) Thursday reported a wider loss for the third quarter mainly on the back of lesser revenue from sales of the Hunger Games trilogy. The company further revised down its expectations for the full year ending May 31.
For the quarter, the firm posted loss of $20.1 million, wider than last year's loss of $10.3 million. On a per share basis, net loss widened to $0.63 from $0.33 last year.
Revenue for the third quarter fell to $380.5 million from $467 million last year. The company said the revenue decline primarily reflected significantly lower sales of The Hunger Games trilogy versus its own expectations and the prior year. Also, book club sales fell from the prior-year period.
One analyst polled by Thomson Reuters estimated revenue of $384.20 million for the period. Analyst estimates typically exclude one-time items.
For the full-year, the firm now expects earnings per share from continuing operations of $1.10 to $1.30, before the impact of one-time items associated with cost reduction programs and non-cash, non-operating items. This comes in lower than its previous outlook of $1.40 to $1.60, before the impact of such one-time items.
Analysts are currently looking for earnings per share of $1.52 for the full-year.
The company further expects revenue in the range of of $1.75 billion to $1.8 billion for fiscal 2013, compared with its prior outlook of $1.8 billion to $1.9 billion.
The Street expects the company to register revenue of $1.84 billion for the full-year.
For comments and feedback contact: editorial@rttnews.com
Business News
June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.