Houghton Mifflin Harcourt Reports Record Preliminary Q3 Billings

For the fiscal third quarter, the Company expects to report(1) net sales of $563 million, and expects year-to-date net sales of $1,147 million. Third quarter cash flow from operating activities are expected to be $393 million, resulting in expected year-to-date cash flow from operating activities of $127 million. Additionally, third quarter 2019 key metrics are estimated as follows:
•Third quarter billings are expected to be $746 million, representing record growth of 30%, driven by expected Core Solutions billings growth of 50%, and expected Extensions billings growth of 25% compared to Q3’18;
•Third quarter free cash flow expected to be $358 million, resulting in expected year-to-date free cash flow of $18 million, positioning the Company to report strong positive free cash flow for the full year 2019;
•Cash and cash equivalents expected to be $309 million as of September 30, 2019.
more detail at: https://www.hmhco.com/about-us/press-releases/hmh-q3-2019-preliminary-results

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