Scholastic Corporation (NASDAQ:SCHL) Q2 2023 Earnings Conference Call December 15, 2022 4:30 PM ET

Company Participants

Jeffrey Mathews - Executive Vice President, Corporate Development and IR

Peter Warwick - President and CEO

Ken Cleary - Chief Financial Officer

Conference Call Participants

Operator

Good day and thank you for standing by, and welcome to Scholastic Reports Q2 Fiscal Year 2023 Results Conference Call. At this time, all participants are in a listen-only mode. Please be advised that today’s conference is being recorded.

I would now like to hand the conference over to your speaker today, Jeffrey Mathews. Please go ahead.

Jeffrey Mathews

Welcome, everyone, to Scholastic’s fiscal 2023 second quarter earnings call. Today on the call, I am joined by Peter Warwick, our President and Chief Executive Officer; and Ken Cleary, our Chief Financial Officer. As usual, we posted the company investor presentation on our IR website at investor.scholastic.com, which you may download now if you have not already done so.

We would like to point out that certain statements made today will be forward-looking. These forward-looking statements, by their nature, are subject to various risks and uncertainties and actual results may differ materially from those currently anticipated.

In addition, we will be discussing some non-GAAP financial measures as defined in Regulation G. The reconciliation of those measures to the most directly comparable GAAP measures can be found in the company’s earnings release and accompanying financial tables filed this afternoon on a Form 8-K.

This earnings release has also been posted to our Investor Relations website. We encourage you to review the disclaimers in the release and investor presentation and to review the risk factors disclosed in the company’s annual and quarterly reports filed with the SEC.

Should you have any questions after today’s call, please send them directly to our IR e-mail, investor_relations@scholastic.com.

And now, I’d like to turn the call over to Peter Warwick to begin this afternoon’s presentation.

Peter Warwick

Thank you, Jeff, and good afternoon, everyone, and thanks for joining us. Scholastic delivered strong revenue growth and higher earnings in our second quarter of fiscal 2023, as we successfully navigated continued market and cost headwinds during the important back-to-school season.

The company’s sustained momentum reflected three things; first, the strength of Scholastic’s brand, unique channels, children’s content and educational products; second, the improved operating efficiencies we have achieved over the past three years; and third, our continued investments in long-term growth opportunities.