John Wiley & Sons Inc. reported fiscal first quarter adjusted earnings of $0.36 per share, which was below consensus of $0.67.
Sales fell - 0.1% year-on-year to $487.57 million, missing the consensus estimate of $501.60 million.
Revenue from Research was flat, Academic & Professional Learning decreased -5%, and that from Education Services rose by +7%. Adjusted EBITDA margin was 13.1%, narrowing from 19.5% a year ago.
John Wiley reaffirmed its FY23 forecast on sales range of $2.125 billion to $2.165 billion, compared to consensus expectation of $2.14 billion. The company’s adjusted EPS guidance is $3.70 to $4.05 a share, vs. consensus estimate of $3.85.