7 September 2022
FIRST QUARTER SUMMARY
- GAAP Results: Revenue of $488 million (-0% vs. prior year), Operating (loss) of -$17 million (-$58 million vs. prior year), and EPS (loss) of -$0.32 (-$0.56 vs. prior year)
- Adjusted Results at constant currency: Revenue of $488 million (+4% vs. prior year), Adjusted EBITDA of $64 million (-34% vs. prior year), and Adjusted EPS of $0.36 (-60% vs. prior year). Adjusted EBITDA and Adjusted EPS performance mainly due to investments in Research, higher employee costs, increased T&E spend related to the resumption of in-person activities, and market-related challenges in University Services
- Fiscal 2023 Outlook: Wiley reaffirms its full year outlook for Revenue, Adjusted EBITDA, Adjusted EPS, and Free Cash Flow
- Dividend Increase: Wiley raises quarterly dividend for 29th consecutive year
Academic & Professional Learning revenue declined 5% as reported and 1% at constant currency. Education Publishing performance saw a decline in print course material offsetting growth in digital content and courseware. Professional Learning saw growth in corporate training offsetting a decline in professional publishing.
Read the full report here.