Wiley Reports Third Quarter 2024 Results

Wiley (NYSE: WLY and WLYB), one of the world’s largest publishers and a global leader in research and learning, today reported results for the third quarter ended January 31, 2024.

*GAAP Results: Revenue of $461 million (-6%), Operating loss of $46 million (+$21 million), and EPS loss of $2.08 (-$0.79). GAAP revenue decrease due to completed divestiture and declines in other held for sale businesses. GAAP results impacted by charges related to held for sale or sold assets, including goodwill and held for sale impairments of $82 million and $26 million, respectively, as well as a loss on a completed divestiture of $26 million. The Company also recorded restructuring charges of $15 million.
*Adjusted Results at Constant Currency (excluding Held for Sale or Sold segment results): Adjusted Revenue of $403 million (+1%), Adjusted EBITDA of $92 million (+1%), and Adjusted EPS of $0.59 (-27%).
*Full Year Outlook:
*Adjusted Revenue trending toward mid-to-high end of $1,580 to $1,630 million range
*Adjusted EBITDA raised to $335 to $355 million
*Adjusted EPS raised to $2.45 to $2.65

“As we finish out the year, we’re increasingly confident in our underlying momentum and recovery in Research and continued outperformance in Learning,” said Matthew Kissner, Interim President and CEO. “We’ve moved decisively on our improvement and optimization plans and expect a strong fourth quarter as Research continues to recover, Learning continues to outperform, and in-year cost savings accelerate. Our disciplined execution and positive momentum are allowing us to raise our earnings guidance this year and set us up well for material performance and profit improvement in Fiscal 2025 and 2026.”
details at: https://newsroom.wiley.com/press-releases/press-release-details/2024/Wiley-Reports-Third-Quarter-2024-Results/default.aspx

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