(RTTNews) - Scholastic Corporation (SCHL) on Thursday reported third-quarter net income of $62.5 million or $2.55 per share, compared to a net loss of $3.6 million or $0.13 per share last year.
Revenues for the quarter were $329.1 million, compared to $335.4 million last year.
The company reaffirmed its outlook for full-year Adjusted EBITDA and free cash flow which include adjustments for the sale-leasebacks of its major real estate assets. The outlook for full-year Adjusted EBITDA remains $146 million to $156 million, including the $14 million partial-year impact from these highly accretive transactions on rental income and expense. Fiscal 2026 free cash flow is forecasted to exceed $430 million, reflecting proceeds from the sale of the Company's real estate assets.
The company expects full-year revenue to be approximately flat with the prior year, reflecting year-to-date softness in Education and strong comps in Trade a year ago.
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