Scholastic Shares Sink as FY13 Outlook Slashed

Scholastic SCHL announced a reduced FY13 outlook late Tuesday evening. Shares have opened down nearly 20% Wednesday morning. The company's FY sales guidance was lowered from $1.9-2B to $1.8-1.9B vs $1.94B analyst estimate. Continuing operations guidance for the FY reduced from $2.20-2.40 to $1.40-1.60 vs $2.27 estimate. Scholastic is expecting FY13 free cash flow of $100-200M.
Market News and Data brought to you by Benzinga APIs
Comments
Loading...
Posted In: NewsGuidanceMovers
Benzinga simplifies the market for smarter investing

Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.

Join Now: Free!