Here's Why Scholastic Shares Are Moving


Scholastic Corp SCHL shares are trading lower by 9.7% at $38.24 after the company reported third-quarter earnings results.

Scholastic reported $344.50 million in sales this quarter. This is a 24% increase over sales of $277.50 million the same period last year. The company reported an EPS loss of 38 cents.

Peter Warwick, President and Chief Executive Officer, said, "Strong demand for our products resulted in a 24% increase in revenues in the third quarter with the biggest impact coming from higher than expected revenue per fair from book fairs, where fair count continues to approximate 70% of pre-pandemic levels.” 

“As parents and teachers around the world seek to close the learning gaps created by the disruption of in-person learning, demand for our proven educational products is getting stronger. Whether it's from our core Trade backlist titles, Graphix™ series, engaging educational materials or the exciting way we deliver book fairs to schools, our loyal customers are turning to Scholastic to reinforce the love of reading in children," Warwick stated.

See Also: Why FedEx Shares Are Sliding Today

Scholastic has a 52-week high of $43.71 and a 52-week low of $27.86.

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