Scholastic Corporation (NASDAQ:SCHL) Q4 2022 Earnings Conference Call July 21, 2022 4:30 PM ET

Company Participants

Paul Hukkanen - Chief Accounting Officer

Peter Warwick - President and Chief Executive Officer

Ken Cleary - Chief Financial Officer

Operator

Good day and thank you for standing by and welcome to the Scholastic Reports Q4 and Fiscal Year 2022 Results Conference Call. [Operator Instructions] Please be advised that today’s conference is being recorded. I would now like to hand the conference over to your speaker today, Paul Hukkanen. You may begin.

Paul Hukkanen

Hello and welcome everyone to Scholastic’s fourth quarter and fiscal 2022 earnings call. Joining me on the call today are Peter Warwick, our President and Chief Executive Officer and Ken Cleary, our Chief Financial Officer. As usual, we have posted the accompanying 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 reconciliations of those measures to the most directly comparable GAAP measures maybe 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 address, 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

Good afternoon, everyone and thank you for joining today’s call. Our fiscal year 2022 came to a close with a strong fourth quarter, which builds upon three solid quarters to secure impressive results for the full year and establish positive momentum for moving forward. These results are a direct reflection of the adaptability, resolve and unparalleled dedication of Scholastic employees. To that point, we delivered more than 500 million units of books and educational materials in the United States this past fiscal year. It takes strong teamwork at every level to accomplish that. As usual, Ken will provide greater detail later in the call. But at a high level, our results exceeded expectations for this rebuilding year, particularly for Book Fairs, which was initially the area most affected by COVID.