Wiley Reports Second Quarter Fiscal Year 2023 Results

Wiley (NYSE: WLY), one of the world’s largest publishers and a global leader in scientific research and career-connected education, today announced results for the second quarter ended October 31, 2022.

*GAAP Results: Revenue of $515 million (-3% vs. prior year), Operating Income of $57 million (-22% vs. prior year), and EPS of $0.68 (-31% vs. prior year)
*Adjusted Results at constant currency: Revenue of $515 million (+1% vs. prior year), Adjusted EBITDA of $124 million (-4% vs. prior year), and Adjusted EPS of $1.20 (-13% vs. prior year)
*Fiscal 2023 Outlook: Wiley is lowering its revenue outlook at constant currency due to consumer spending and enrollment headwinds in Academic & Professional Learning. Reaffirms full year outlook for Adjusted EBITDA and Free Cash Flow; Adjusted EPS trending to lower end of range mainly due to rising interest expense

MANAGEMENT COMMENTARY
“Despite the challenging economic environment, we continue to see good underlying momentum in our core growth areas of Research Publishing, Research Solutions, and Corporate Talent Development,” said Brian Napack, President and CEO. “This quarter’s results were weighed down by difficult market conditions in our publishing lines in Academic & Professional Learning. We are aggressively managing costs to offset these challenges while continuing to scale our growth offerings in line with favorable long-term trends.”
details at: https://newsroom.wiley.com/press-releases/press-release-details/2022/Wiley-Reports-Second-Quarter-Fiscal-Year-2023-Results/default.aspx

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