“We finished the year strong and head into Fiscal 2025 with full confidence in our Research trajectory, GenAI momentum, and profit and performance outlook,” said Matthew Kissner, Interim President and CEO. “We are seeing robust demand to publish and significant output acceleration in Research as well as continued outperformance in Learning. On top of this, we’re seeing significant interest in leveraging our authoritative content to train AI and machine learning models. Finally, we’ve executed on our stated commitments with discipline and speed, enabling us to exceed our earnings guidance and accelerate our cost savings program, setting us up well for continued margin expansion and strong cash generation ahead.”
FOURTH QUARTER SUMMARY
Fiscal Year 2024 was a transition year for Wiley as the Company divested non-core assets, restructured and realigned the organization, and recorded multiple non-cash impairments. Results reflect this activity.
GAAP Results (including Held for Sale or Sold Assets): Revenue of $468 million (-11%), Operating income of $69 million (-17%), and EPS of $0.46 (-$0.76).
FULL YEAR SUMMARY
GAAP Results: Revenue of $1,873 million (-7%), Operating income of $52 million (-6%), and EPS loss of $3.65 (-$3.96).
Adjusted Results at Constant Currency: Revenue of $1,617 million (-1%), Adjusted EBITDA of $369 million (-3%), and Adjusted EPS of $2.78 (-19%).
Cash from Operations of $208 million (-$69 million) and Free Cash Flow of $114 million (-$59 million) mainly due to lower cash earnings and higher restructuring payments.
details at: https://newsroom.wiley.com/press-releases/press-release-details/2024/Wiley-Reports-Fourth-Quarter-and-Fiscal-Year-2024-Results/default.aspx