Wiley Reports First Quarter Fiscal Year 2023 Results

“Q1 unfolded largely as expected, and we are confident in the full year outlook based on our strong, continued momentum in Research Publishing, Research Solutions, and Corporate Talent Development and the execution of our cost savings program,” said Brian Napack, President and CEO. “Our core growth strategies in open research and career-connected education are working, and they are supported by favorable long term market trends, consistent cash generation, and our sharp focus on operational excellence.”

Revenue
*Research was flat as reported, or up 4% at constant currency, driven by organic growth in Publishing and Solutions and contributions from recent acquisitions. – Revenue by product type reporting change – Research is now reported as Research Publishing and Research Solutions. Research Solutions includes platforms, corporate solutions and services for societies and other publishers. It replaces the Research Platforms reporting line. Please see the tables below for more detail.
*Academic & Professional Learning revenue declined 5% as reported and 1% at constant currency. Education Publishing performance saw a decline in print course material offsetting growth in digital content and courseware. Professional Learning saw growth in corporate training offsetting a decline in professional publishing.
*Education Services increased 7% as reported and 11% at constant currency, with very strong double-digit growth in Talent Development offsetting a decline in University Services from market-related enrollment challenges.

EPS
*GAAP EPS was a loss of $0.32 as compared to +$0.24 in the prior year period, primarily reflecting a $0.30/share ($22 million) restructuring charge and accelerated amortization of intangibles of $0.07/share ($5 million) related to the discontinuation of the mthreebrand.
details at: https://newsroom.wiley.com/press-releases/press-release-details/2022/Wiley-Reports-First-Quarter-Fiscal-Year-2023-Results/default.aspx

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