Pearson announces the disposal of Pearson Institute of Higher Education

The Company reported fourth quarter 2023 reported revenue of $3.152 billion, an increase of 7% compared to the fourth quarter of 2022. Fourth quarter GAAP net income increased 34% to $579 million and GAAP diluted earnings per share increased 38% to $1.83 driven primarily by strong Ratings growth and lower merger-related costs. Excluding the impact of Engineering Solutions (ES), revenue growth would have been 11% year over year. Adjusted net income for the fourth quarter increased 19% to $988 million and adjusted diluted earnings per share increased 23% to $3.13. For the full year 2023, reported revenue increased 12% year over year to $12.497 billion. 2023 GAAP net income decreased 19% to $2.626 billion and GAAP diluted earnings per share decreased 19% to $8.23, driven primarily by a gain on sale of assets in 2022 and restructuring costs in 2023.

Group C Media—the New Jersey-based publisher of Business Facilities and Facility Executive magazines—announced last week its acquisition of Turf, Turf Design Build, and Tree Services magazines from Grand View Media, reuniting the brands with the online forums LawnSite and PlowSite, which Group C purchased from Grand View earlier this year. “We’re thrilled that Turf, Turf Design Build and Tree Services are back where they belong with the LawnSite Network,” said Group C co-president Ted Coene in a statement. “The acquisition of these industry-leading brands will give us the opportunity to create new offerings in print, online and face-to-face events.” Click Read More below for additional information.

FY24 first quarter service performance scores covering Sept. 30 through October 6, included: *First-Class Mail: 91.0 percent of First-Class Mail delivered on time against the USPS service standard, consistent with performance from the fiscal fourth quarter. *Marketing Mail: 95.8 percent of Marketing Mail delivered on time against the USPS service standard, consistent with performance from the fiscal fourth quarter. *Periodicals: 85.7 percent of Periodicals delivered on time against the USPS service standard, consistent with performance from the fiscal fourth quarter.