Technology

Science and Technology Daily: China’s Tech Leap in Foreign Experts’ Eyes

Published

1 year ago

March 8, 2025

BEIJING, March 8, 2025 /PRNewswire/ — The world’s eyes are once again on China as the annual sessions of the National People’s Congress (NPC) and the Chinese People’s Political Consultative Conference (CPPCC), collectively known as the two sessions, started from March 4.

In this issue, Science and Technology Daily speaks with foreign experts and young scientists working in China, who share their perspectives on China’s sci-tech achievements.

They also discuss China’s open and inclusive research environment, its people-centered policies and the broader implications of its technological progress for the international community.

China’s AI Rise Benefits the World

With its rapid advancements in AI, China is consistently capturing world headlines, not only for its technological progress but also for the profound impact these advancements are having on society and the world. Through the eyes of international experts and researchers, we gain a deeper understanding of China’s AI journey, showing its forward-thinking policies, commitment to improving quality of life, and growing influence on the global stage.

——AI for common good

China’s strategic focus on AI as a key driver of economic and social progress has been a paradigm shifter. The country’s policymakers have demonstrated remarkable foresight by identifying AI as a critical area for development and setting a goal to become a global leader in the field by 2030. This vision is backed by substantial investments in research, development, and implementation across various sectors.

Sergey V. Ablameyko, an academician of the National Academy of Sciences of Belarus and visiting professor at Northwestern Polytechnical University in Xi’an, said that, “China has made significant progress in the AI field, especially since 2017 when it adopted a national strategy for AI development. I have seen how China has grown in this area over the past 20 years, and it is now a leader in both practical applications and scientific research. “

However, what China has done goes far beyond this. According to Ashyana-Jasmine Kachra from the London School of Economics and Political Science, “China is not just focused on the proliferation of AI and its innovative use cases; the country has also been silently leading the pack and making its mark on the AI regulatory landscape.”

China has implemented strict laws and ethical guidelines for AI development, ensuring that technological advancements align with societal values.

In 2017, China released the Next Generation Artificial Intelligence Development Plan to encourage diverse AI methodologies, such as deep learning, knowledge-based reasoning and large-scale modeling. In May 2019, it was followed by the Beijing AI Principles, which set out clear guidelines for AI research and development, advocating respect for privacy, human dignity and human rights. This underscores China’s commitment to developing responsible AI and its philosophy of using technology for the greater good.

——Profound global influence

China’s AI advancements are not confined to within its borders; they are shaping the global landscape of technology and innovation.

Md Monjurul Karim, a young Bangladeshi researcher majoring in AI at the Shenzhen Institutes of Advanced Technology, Chinese Academy of Sciences, emphasized how China’s rapid progress in AI has influenced his career and research. He noted that China’s AI ecosystem, with its high-performance computing infrastructure and top-tier research labs, provides an ideal environment for cutting-edge research.

Breakthroughs like DeepSeek, a large-scale AI model, have inspired new ways of thinking and accelerated innovation. For Karim, AI is not just a tool but a “research companion” that fosters creativity and exploration.

China’s focus on innovation is also driving global advancements in AI and computer science. Karim pointed out that China’s investments in large-scale AI models and high-performance computing contribute to the broader research community, enabling international collaboration and knowledge-sharing.

One of the most significant contributions of China’s AI industry is its commitment to “democratizing access to AI technologies,” said Md Altab Hossin, a Bangladeshi expert at the School of Innovation and Entrepreneurship, Chengdu University, adding that DeepSeek exemplifies this ethos. By developing easy-to-use models, tools and platforms, DeepSeek has made AI accessible to users without extensive technical expertise. Its open-source model allows anyone to use it for professional or personal purposes without restrictions.

Just as Ablameyko noted, China’s progress is an opportunity for the world, and its development in science is a help, not a threat to the global community.

Inclusive Hub of Global Agricultural Transformation

In recent years, China has become a global leader in agricultural research, playing an essential role in addressing worldwide challenges such as food security, climate change and sustainable farming.

This achievement is largely due to the country’s open and inclusive approach to scientific research, where international collaboration is encouraged and deeply embedded in its culture. Through strategic partnerships and initiatives like the Belt and Road Initiative (BRI), China has created a cooperative research ecosystem that benefits local and international scholars.

——Learning, leading and bridging

Dr. Hao Yuanfeng, a scientist from the Institute of Crop Sciences, Chinese Academy of Agricultural Sciences (CAAS), has witnessed firsthand how China’s collaborations with global institutions and partners, such as the International Maize and Wheat Improvement Center (CIMMYT), have evolved over the years. As a former beneficiary of international collaborations during the early stages of his career, Hao now mentors a young generation of scientists who continue to benefit from these partnerships.

“For example, in our lab, we started working with CIMMYT in the 1980s. They shared germplasm and protocols for quality testing, which helped us develop our breeding pipeline for high-yielding and high-quality varieties,” Hao explained. “This collaboration led to the release of varieties such as Zhongmai 578, a strong gluten wheat variety currently widely grown by farmers.”

According to Hao, the calls for more international cooperation have become louder in the sci-tech community. He underscores China’s role as a bridge between international organizations and developing countries, stating that China now shares its advancements with nations across the globe, helping them adopt modern breeding and production technologies.

——A culture of openness and growth

One of the most significant aspects of China’s research environment is its inclusivity. For Youshaa Danyal, a young researcher from Pakistan, China offers a dynamic and welcoming atmosphere that fosters both academic and personal growth.

His experience reflects the environment that China cultivates for international scholars, one that promotes collaboration, creativity and excellence. He noted the inspirational work of Chinese scientists, like Li Wenxue team’s recent publication in Science magazine on the NAC gene marks a significant advancement in maize biofortification.

The open and inclusive nature of China’s research ecosystem is clear in Danyal’s daily work, as he collaborates with colleagues from around the world. “We are working together to tackle pressing agricultural challenges such as micronutrient deficiency,” he said.

Muhammad Adeel Qureshi, a senior researcher from Pakistan, speaks highly of the organization and systematic approach to China’s agricultural programs. He noted that China is a leading producer of wheat worldwide. “This high yields resulted due to the continuous efforts by the breeders and scientists across China. I’m honored to be part of the CAAS, where the breeding work is systematic and well organized,” said Qureshi, adding that the research team of his lab has developed many molecular markers for different quality traits in wheat.

For him, being part of such a well-organized environment has been both enriching and motivating. He noted that China focuses on international cooperation at both governmental and institutional levels, which is crucial for tackling global agricultural challenges. “China’s policies on collaboration are reflected at both the governmental and individual levels, with a strong focus on international cooperation, especially in the scientific community,” Qureshi said.

——Connecting continents, empowering research

The BRI has proven to be a vital platform for expanding international collaboration in agriculture. Yirga Kindie Wasihun, a senior researcher from Ethiopia doing his PhD in wheat genetics and molecular breeding in CAAS, underscores the impact of this initiative on global agricultural cooperation. “The BRI has not only provided infrastructure but also opened doors for knowledge transfer, allowing us to bring back new technologies to our home countries,” said Wasihun. Through the BRI, China is actively collaborating with partner countries, facilitating agricultural research and fostering capacity building. “China plays a leading role in uplifting the region’s economies and ensuring sustainable development,” said Wasihun.

Qureshi also recognizes the BRI’s pivotal role in boosting agricultural collaboration. “The BRI has created numerous opportunities in infrastructure, science, technology and other fields,” he said. “It has opened doors for international students and scientists, fostering collaboration and knowledge exchange.”

Steering a Greener Future

On November 14, 2024, China achieved a historic milestone as its annual production of new energy vehicles (NEVs) surpassed 10 million units, consolidating its leading role in the transition to a greener future. This achievement shows not just China’s technological progress but also its efforts to combat climate change and reduce carbon emissions.

——A benchmark for the world

Nicholas Mulei Musyoka is an associate professor in renewable energy and energy storage at the Nottingham Ningbo China Beacons of Excellence Research and Innovation Institute, which is a part of University of Nottingham Ningbo China. He described China’s NEV industry as “innovative, scalable and impactful” in a recent interview with Science and Technology Daily. Musyoka emphasized that the rapid adoption of NEVs in China is a clear indicator of the country’s leadership in the sector.

“China is setting the trend and becoming a benchmark for other countries to follow,” Musyoka said. But China’s booming NEV industry is not just about numbers. According to Italian scientist Francesco Faiola, the rapid expansion of electric vehicles (EVs) has significantly improved people’s quality of life.

“Chinese companies have made EVs more affordable and accessible, contributing to reduced air pollution and lower greenhouse gas emissions,” Faiola said. Electric buses and taxis have become the norm, leading to cleaner air and improved public health.

This sentiment was echoed by Musyoka. “China does not live in a bubble. China’s contribution to reductions in CO2 emissions benefits the entire planet,” he said.

Instead of viewing China’s advancements in the NEV industry as competition, Musyoka urged for more international collaboration. “China’s progress should be applauded, and we should learn from its technological and adoption strategies. The bigger picture is about solving the climate crisis together.”

——A holistic approach to sustainability

China’s rapid NEV adoption is not an isolated phenomenon but part of a broad, integrated strategy for sustainable development. Beyond reducing emissions, it has triggered advancements in renewable energy, AI and smart city systems, transforming urban infrastructure.

However, NEVs are just one piece of the puzzle, as Musyoka pointed out. “To fully realize their potential, we need renewable energy installations to charge these vehicles, ensuring zero emissions throughout the lifecycle.”

This holistic approach extends beyond land transportation. In sectors like maritime transport and aviation, China is exploring technologies such as power-to-methanol and sustainable aviation fuels to further cut carbon emissions.

Additionally, innovations in battery technology are enhancing the efficiency of unmanned aerial vehicles, contributing to greener logistics and transportation networks. “The integration of AI and smart systems ensures efficient monitoring and management, making cities cleaner and more sustainable,” Musyoka added.

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SOURCE Science and Technology Daily

Technology

Escalade Announces Second Quarter 2026 Results Conference Call Date

Published

33 minutes ago

July 23, 2026

EVANSVILLE, Ind., July 23, 2026 /PRNewswire/ — Escalade, Inc. (NASDAQ: ESCA, or the “Company”), a leading manufacturer and distributor of sporting goods and indoor/outdoor recreational equipment, today announced that it will issue its second quarter 2026 results before the market opens on Thursday, July 30, 2026. A conference call will be held that day at 11:00 a.m. ET to review the Company’s financial results and conduct a question-and-answer session.

A webcast of the conference call will be available in the Investor Relations section of Escalade’s website at www.escaladeinc.com. To listen to a live broadcast, go to the site at least 15 minutes prior to the scheduled start time in order to register, download, and install any necessary audio software.

To participate in the live teleconference:

Domestic Live:

833-890-3250

International Live:

412-206-6441

To listen to a replay of the teleconference, which subsequently will be available through August 13, 2026:

Domestic Replay:

844-512-2921

International Replay:

412-317-6671

Conference ID:

10209663

ABOUT ESCALADE

Founded in 1922, and headquartered in Evansville, Indiana, Escalade designs, manufactures, and sells sporting goods, safety, fitness, and indoor/outdoor recreation equipment. Our mission is to connect family and friends, create lasting memories, and play life to the fullest. Leaders in our respective categories, Escalade’s distinct and acclaimed brands include Goalrilla™ in-ground basketball hoops; STIGA® tennis tables and accessories; Bear® Archery and archery equipment; Brunswick Billiards® tables and accessories; Accudart® darting; ONIX® pickleball; Lifeline® fitness products; and RAVE Sports® water recreation products. Escalade’s products are available online and through leading retailers nationwide. For more information about Escalade’s diverse and prominent brand portfolio, history, financials, and governance, please visit www.escaladeinc.com.

INVESTOR RELATIONS CONTACT

Wesley Smith
Vice President, Financial Reporting & Investor Relations
812-467-1334

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SOURCE Escalade, Incorporated

Technology

Analog Devices to Report Third Quarter Fiscal Year 2026 Financial Results on Wednesday, August 19, 2026

Published

33 minutes ago

July 23, 2026

WILMINGTON, Mass., July 23, 2026 /PRNewswire/ — Analog Devices, Inc. (Nasdaq: ADI) today announced it will release financial results for the third quarter fiscal year 2026 at 7:00 a.m. Eastern time on Wednesday, August 19, 2026. Following the press release, the Company will host a conference call at 10:00 a.m. Eastern time, the same day. Vincent Roche, Chief Executive Officer and Chair, Richard Puccio, Executive Vice President and Chief Financial Officer, and Jeff Ambrosi, Head of Investor Relations, Senior Director, will discuss ADI’s results and business outlook.

The press release, live conference call and subsequent archived copies can be accessed on Analog Devices’ Investor Relations website at investor.analog.com. To participate in the live conference call, please pre-register at: register-conf.media.server.com. Upon registering, you will be emailed a dial-in number and unique PIN.

About Analog Devices, Inc.
Analog Devices, Inc. (NASDAQ: ADI) is a global semiconductor leader that bridges the physical and digital worlds to enable breakthroughs at the Intelligent Edge. ADI combines analog, digital, AI, and software technologies into solutions that combat climate change, reliably connect humans and the world, and help drive advancements in automation and robotics, mobility, healthcare, energy and data centers. With revenue of more than $11 billion in FY25, ADI ensures today’s innovators stay Ahead of What’s Possible. Learn more at www.analog.com and on LinkedIn and X.

Jeff Ambrosi
Head of Investor Relations, Senior Director
Analog Devices, Inc.
781-461-3282
invesor.relations@analog.com

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SOURCE Analog Devices, Inc.

Technology

Scholastic Reports Fourth Quarter and Fiscal 2026 Results

Published

33 minutes ago

July 23, 2026

Fiscal 2026 Operating Income of $15.2 Million; Adjusted EBITDA of $151.5 Million, Up 4%, in Line With Guidance

Returned Over $285 Million to Shareholders During Fiscal Year

Fiscal 2027 Outlook Targets Return to Revenue Growth and Higher Adjusted EBITDA on Comparable Basis

NEW YORK, July 23, 2026 /PRNewswire/ — Scholastic Corporation (NASDAQ: SCHL), the global children’s publishing, education and media company, today reported financial results for the Company’s fiscal fourth quarter and full year ended May 31, 2026.

Peter Warwick, President and Chief Executive Officer, said, “Fiscal 2026 demonstrated the earnings power of a more focused Scholastic, as the Company made substantial progress in a multi-year transformation of its governance, organization, strategy and balance sheet. Adjusted EBITDA rose, in line with guidance, positioning the Company for growth in fiscal 2027.”

Fiscal 2026 revenue decreased 3%, and operating income was $15.2 million, compared with $15.8 million in fiscal 2025. Adjusted operating income, excluding one-time items, increased to $47.1 million from $35.8 million in the prior year period. Adjusted EBITDA was $151.5 million, up 4%, and increased 15% on a comparable basis, reflecting the full-year impact of additional lease expense and the loss of rental income from the sale-leaseback transactions in both periods. In the fourth quarter, Adjusted EBITDA increased $1.0 million on that same comparable basis, driven by continued strong execution in Book Fairs, Entertainment’s return to growth and disciplined cost management across the Company, even as revenue was affected by expected comparisons against an exceptional prior-year quarter in Trade and continued funding volatility in Education.

Mr. Warwick continued, “Today, our company is more clearly organized around the advantages that make Scholastic distinctive: a trusted brand, beloved IP, proprietary school-based channels and deep relationships with educators and families built over more than a century. Scholastic remains uniquely positioned to connect books, schools, homes and screens in ways that deepen kids’ engagement with stories and bring more children back to reading at a scale and depth that others cannot easily replicate.

“During the fourth quarter, we continued to see the impact of this strategy across the business. Book Fairs deepened our reach with schools and families, Trade Publishing remained anchored by enduring children’s franchises, and Entertainment expanded discovery and engagement with Scholastic IP across platforms. In Education, while funding volatility and a challenging supplemental curriculum market continued to pressure results, we made progress repositioning the business around a more focused strategy, improved execution and lower cost structure, with trends improving throughout the year.

“Fiscal 2026 was also an important year of capital deployment and shareholder value creation. Following the sale-leaseback transactions, we returned significant capital to shareholders through share repurchases, a modified Dutch auction tender offer and dividends, and established a long-term leverage framework that supports both disciplined investment and continued capital returns. Together, these actions completed major elements of our financial transformation and provide Scholastic with greater financial flexibility to enhance shareholder returns.

“As we enter fiscal 2027, Scholastic is strongly positioned to translate its durable advantages into profitable, sustained growth. Our outlook reflects expected revenue growth and higher Adjusted EBITDA on a comparable basis, reflecting the full-year impact of the sale-leaseback transactions in both periods. We remain focused on continued execution of our plan, disciplined cost management and targeted investment in the areas where Scholastic has the greatest opportunity to drive long-term growth, deepen our impact with children, families and educators, and create sustained value for shareholders.”

Outlook

In fiscal 2027, the Company expects revenue growth of approximately 2% to 4% and Adjusted EBITDA of approximately $135 million to $145 million. The Adjusted EBITDA range represents growth compared with fiscal 2026 Adjusted EBITDA on a comparable basis, reflecting the full-year impact of the sale-leaseback transactions in both periods.

This outlook reflects expected growth in Children’s Books, Entertainment and International, improved performance in Education, disciplined cost management and targeted investment in long-term growth opportunities.

The Company also expects Free Cash Flow (a non-GAAP financial measure, explained in the accompanying tables) of approximately $35 million to $40 million.

Fiscal 2026 Q4 Review

In $ millions (except per share data)

Fourth Quarter

Change

Fiscal 2026

Fiscal 2025

Revenues

476.1

508.3

(32.2)

(6) %

Operating income (loss)

51.4

53.5

(2.1)

(4) %

Earnings (loss) before taxes

14.5

48.9

(34.4)

(70) %

Diluted earnings (loss) per share

0.45

0.59

(0.14)

(24) %

Operating income (loss), ex. one-time items* (1)

58.3

63.4

(5.1)

(8) %

Diluted earnings (loss) per share, ex. one-time items*

2.19

0.87

1.32

152 %

Adjusted EBITDA* (1)

84.7

91.2

(6.5)

(7) %

Pro forma Adjusted operating income* (2)

58.3

59.5

(1.2)

(2) %

Pro forma Adjusted EBITDA* (2)

84.7

83.7

1.0

1 %

* Please refer to the non-GAAP financial tables attached

(1)

Fiscal 2026 fourth-quarter Operating income excluding one-time items and Adjusted EBITDA include
net costs of $4.2 and $7.8, respectively, related to the sale-leaseback transactions completed in
December 2025.

(2)

Pro forma Adjusted operating income and Pro forma Adjusted EBITDA reflect the full-period impact of
the sale-leaseback transactions in each period presented. The Company refers to these measures in
this release as results “on a comparable basis.” See Table 7 for the reconciliation to Adjusted operating
income and Adjusted EBITDA.

Revenues decreased 6% to $476.1 million, as continued growth in Book Fairs and higher Entertainment revenues were more than offset by lower Trade and International revenues due to more challenging comparisons with the prior-year publishing schedule and lower revenues in Education.

Operating Income decreased 4% to $51.4 million in the quarter compared to $53.5 million a year ago, including $6.9 million and $9.9 million in one-time charges in each period, respectively. Excluding one-time charges in both periods, adjusted operating income decreased $5.1 million to $58.3 million. On a comparable basis, reflecting the full-period impact of the sale-leaseback in both periods, adjusted operating income decreased $1.2 million from $59.5 million. Adjusted EBITDA (a non-GAAP measure of operations explained in the accompanying tables) was $84.7 million, compared to $91.2 million in the prior-year period. On the same comparable basis, Adjusted EBITDA increased $1.0 million from $83.7 million in the prior year period, primarily reflecting improved profitability in Children’s Book Publishing and Distribution and Entertainment, partly offset by lower results in Education and International.

Quarterly Results

Children’s Book Publishing and Distribution

In the fiscal fourth quarter, the Children’s Book Publishing and Distribution segment’s revenues decreased 4% to $276.3 million.

In School Reading Events, Book Fairs revenues were $186.6 million, up 5% from the prior year period, reflecting higher fair count. Book Clubs revenues were $12.2 million, a decline of 7% from the prior year period, primarily reflecting lower participation throughout the year.

Consolidated Trade revenues decreased 20% from the prior year period to $77.5 million, reflecting a challenging comparison with the prior-year publishing schedule, which included the release of Sunrise on the Reaping, the fifth book in Suzanne Collins’ global bestselling The Hunger Games® series.

Segment operating income was $60.3 million, compared to $57.6 million a year ago, which included one-time charges of $0.6 million. Excluding one-time charges, adjusted operating income increased $2.1 million, primarily driven by higher revenues and improved profitability in Book Fairs, partly offset by lower Trade results.

Education

Education revenues decreased 13% to $109.2 million, primarily reflecting continued pressure on school and district spending for supplemental curriculum materials. Segment operating income was $27.0 million, which included one-time charges of $0.9 million, compared to $30.7 million in the prior year period, which included one-time charges of $0.6 million. Excluding one-time charges, adjusted operating income decreased by $3.4 million, as a result of lower revenues, partly offset by benefits from the segment’s improved cost structure. While fourth-quarter revenues remained below the prior year, the rate of decline improved in the second half of fiscal 2026 compared to the first half of the year, as the segment advanced its product, marketing and sales strategies following its repositioning.

Entertainment

Segment revenues increased 42% to $21.0 million, reflecting higher production services revenues. Segment operating income was $0.4 million, which included one-time charges of $0.4 million, compared to an operating loss of $3.0 million in the prior year period, which included one-time charges of $0.9 million. Excluding one-time charges, adjusted segment operating income improved $2.9 million to $0.8 million, primarily reflecting higher revenues.

International

International revenues decreased 13% to $69.6 million, excluding favorable foreign currency exchange of $3.1 million, primarily reflecting lower Trade revenues against a more challenging comparison with the prior-year publishing schedule. Segment operating income was $2.9 million, which included one-time charges of $0.2 million, compared to $3.7 million in the prior year period, which included one-time charges of $2.4 million. Excluding one-time charges, adjusted operating income decreased by $3.0 million to $3.1 million primarily reflecting lower revenues, partly offset by cost management.

Overhead

Overhead costs were $39.2 million, which included one-time charges of $5.4 million, compared to $35.5 million in the prior year period, which included one-time charges of $5.4 million. Excluding one-time charges, adjusted overhead costs increased $3.7 million to $33.8 million. On a comparable basis, reflecting the pro forma impact of the sale-leaseback transactions in both periods, adjusted overhead costs were approximately in line with the prior-year period.

Fiscal 2026 Full Year Review

In $ millions (except per share data)

Full Year

Change

Fiscal 2026

Fiscal 2025

Revenues

1,581.9

1,625.5

(43.6)

(3) %

Operating income (loss)

15.2

15.8

(0.6)

(4) %

Earnings (loss) before taxes

85.2

(1.3)

86.5

Diluted earnings (loss) per share

2.34

(0.07)

2.41

Operating income (loss), ex. one-time items* (1)

47.1

35.8

11.3

32 %

Diluted earnings (loss) per share, ex. one-time items*

1.87

0.48

1.39

Adjusted EBITDA* (1)

151.5

145.4

6.1

4 %

Pro forma Adjusted operating income* (2)

35.3

19.9

15.4

77 %

Pro forma Adjusted EBITDA* (2)

132.4

115.3

17.1

15 %

* Please refer to the non-GAAP financial tables attached

(1)

Fiscal 2026 full-year Operating income excluding one-time items and Adjusted EBITDA include net costs
of $7.2 and $14.5, respectively, related to the sale-leaseback transactions completed in December 2025.

(2)

Revenues decreased 3% to $1,581.9 million, primarily reflecting lower revenues in Education and lower Consolidated Trade revenues against a more challenging comparison with the prior-year publishing schedule, partly offset by strong performance in Book Fairs and higher Entertainment revenues.

Operating Income decreased 4% to $15.2 million, compared to $15.8 million a year ago, including $31.9 million and $20.0 million in one-time charges in each period, respectively. Excluding one-time charges in both periods, adjusted operating income increased $11.3 million to $47.1 million. On a comparable basis, reflecting the full-year impact of the sale-leaseback transactions in both periods, adjusted operating income increased $15.4 million to $35.3 million, compared to $19.9 million in the prior year. Adjusted EBITDA increased $6.1 million, or 4%, to $151.5 million, in-line with the Company’s guidance. On the same comparable basis, Adjusted EBITDA increased 15%, or $17.1 million, to $132.4 million from $115.3 million. The improvement on a comparable basis primarily reflected strong performance in Children’s Book Publishing and Distribution and International, as well as lower adjusted overhead costs, which more than offset the impact of lower sales in Education.

Capital Position and Liquidity

In $ millions

Full Year

Change

Fiscal 2026

Fiscal 2025

Net cash provided by operating activities

50.9

124.2

(73.3)

(59) %

Net proceeds from sale and lease transactions (1)

452.4

—

452.4

Additions to property, plant and equipment and
prepublication expenditures

(66.3)

(76.7)

10.4

14 %

Net borrowings (repayments) of film related obligations

(1.0)

(18.3)

17.3

95 %

Free cash flow (use)*

436.0

29.2

406.8

Net cash (debt)*

48.9

(136.6)

185.5

136 %

NM – Not Meaningful

* Please refer to the non-GAAP financial tables attached

(1) Excludes tax impact from sale-leaseback transactions.

Net cash provided by operating activities was $50.9 million, compared to $124.2 million in the prior year period, primarily reflecting higher tax payments associated with the sale-leaseback transactions, as well as higher severance-related payments as part of cost savings initiatives. Free cash flow was $436.0 million in fiscal 2026, compared to $29.2 million in the prior year period, primarily reflecting over $400 million in net proceeds from the Company’s sale-leaseback transactions.

The Company ended fiscal 2026 with net cash of $48.9 million compared to a net debt position of $136.6 million at the end of fiscal 2025, primarily reflecting the net proceeds from the sale-leaseback transactions, partly offset by significant capital returns to shareholders.

In fiscal 2026, the Company returned approximately $288.6 million to shareholders through share repurchases and dividends. This included the repurchase of 7,336,966 shares of common stock for $268.6 million, including shares purchased through the Company’s modified Dutch auction tender offer and open-market repurchases, and $20.0 million of dividends, including $4.6 million in the fourth quarter.

At May 31, 2026, $183.0 million remained authorized for future repurchases under the Company’s stock repurchase program. The Company expects to continue purchasing shares, from time to time as conditions allow, on the open market or in negotiated private transactions.

Additional Information

To supplement our financial statements presented in accordance with GAAP, we include certain non-GAAP calculations and presentations including, as noted above, “Adjusted EBITDA, “Adjusted Operating Income”, and “Free Cash Flow”. Please refer to the non-GAAP financial tables attached to this press release for supporting details on the impact of one-time items on operating income, net income and diluted EPS, and the use of non-GAAP financial measures included in this release. This information should be considered as supplemental in nature and not as a substitute for the related financial information prepared in accordance with GAAP.

Conference Call

The Company will hold a conference call to discuss its results at 4:30 p.m. ET today, July 23, 2026. Peter Warwick, Scholastic President and Chief Executive Officer, and Haji Glover, the Company’s Chief Financial Officer, Executive Vice President, will moderate the call.

A live webcast of the call can be accessed at https://edge.media-server.com/mmc/p/n2mcunuo. To access the conference call by phone, please go to https://register-conf.media-server.com/register/BIe4453c04814b4def819b83eaf92a8731, which will provide dial-in details. To avoid delays, participants are encouraged to dial into the conference call five minutes ahead of the scheduled start time. Shortly following the call, an archived webcast and accompanying slides from the conference call will be posted at investor.scholastic.com.

About Scholastic

For more than 100 years, Scholastic Corporation (NASDAQ: SCHL) has been meeting children where they are – at school, at home and in their communities – by creating quality content and experiences, all beginning with literacy. Scholastic delivers stories, characters, and learning moments that empower all kids to become lifelong readers and learners through bestselling children’s books, literacy- and knowledge-building resources for schools including classroom magazines, and award-winning, entertaining children’s media. As the world’s largest publisher and distributor of children’s books through school-based book clubs and book fairs, classroom libraries, school and public libraries, retail, and online, and with a global reach into more than 135 countries, Scholastic encourages the personal and intellectual growth of all children, while nurturing a lifelong relationship with reading, themselves, and the world around them. Learn more at www.scholastic.com.

Forward-Looking Statements

This news release contains certain forward-looking statements relating to future periods. Such forward-looking statements are subject to various risks and uncertainties, including the conditions of the children’s book and educational materials markets generally and acceptance of the Company’s products within those markets, and other risks and factors identified from time to time in the Company’s filings with the Securities and Exchange Commission. Actual results could differ materially from those currently anticipated.

SCHL: Financial

Table 1

Scholastic Corporation

Consolidated Statements of Operations

(Unaudited)

(In $ Millions, except shares and per share data)

Three months ended

Twelve months ended

05/31/26

05/31/25

05/31/26

05/31/25

Revenues

476.1

508.3

1,581.9

1,625.5

Operating costs and expenses:

Cost of goods sold

190.4

207.3

689.8

718.8

Selling, general and administrative expenses

219.7

227.8

807.2

822.3

Depreciation and amortization

13.1

17.2

58.8

65.7

Asset impairments and write downs

1.5

2.5

10.9

2.9

Total operating costs and expenses

424.7

454.8

1,566.7

1,609.7

Operating income (loss)

51.4

53.5

15.2

15.8

Interest income (expense), net

(0.9)

(4.3)

(11.2)

(16.0)

Other components of net periodic benefit (cost)

(0.3)

(1.3)

(1.1)

Loss on sale of investments

(17.2)

—

(17.2)

—

Gain (loss) on sale and leaseback transactions

(18.5)

—

99.7

—

Earnings (loss) before income taxes

14.5

48.9

85.2

(1.3)

Provision (benefit) for income taxes

5.1

33.5

28.5

0.6

Net income (loss)

9.4

15.4

56.7

(1.9)

Basic and diluted earnings (loss) per share of Class A and
Common Stock (1)

Basic

0.46

0.59

2.39

(0.07)

Diluted

0.45

0.59

2.34

(0.07)

Basic weighted average shares outstanding

20,343

26,113

23,698

27,631

Diluted weighted average shares outstanding

20,992

26,209

24,222

27,907

(1)

Earnings (loss) per share are calculated on non-rounded net income (loss) and shares outstanding.
Recalculating earnings per share based on numbers rounded to millions may not yield the results as
presented.

Table 2

Scholastic Corporation

Segment Results, Excluding One-Time Items

(Unaudited)

(In $ Millions)

Three months ended

Change

Twelve months ended

Change

05/31/26

05/31/25

05/31/26

05/31/25

Children’s Book Publishing
and Distribution

Revenues

Book Clubs

12.2

13.1

(0.9)

(7) %

57.1

64.2

(7.1)

(11) %

Book Fairs

186.6

177.8

8.8

5 %

576.0

548.3

27.7

5 %

School Reading Events

198.8

190.9

7.9

4 %

633.1

612.5

20.6

3 %

Consolidated Trade

77.5

97.3

(19.8)

(20) %

331.1

351.4

(20.3)

(6) %

Total Revenues

276.3

288.2

(11.9)

(4) %

964.2

963.9

0.3

0 %

Operating income (loss) ex.
one-time items *

60.3

58.2

2.1

4 %

143.7

131.3

12.4

9 %

Adjusted operating margin *

21.8 %

20.2 %

14.9 %

13.6 %

Education

Revenues

109.2

125.7

(16.5)

(13) %

267.6

309.8

(42.2)

(14) %

Operating income (loss) ex.
one-time items *

27.9

31.3

(3.4)

(11) %

0.2

6.9

(6.7)

(97) %

Adjusted operating margin *

25.5 %

24.9 %

0.1 %

2.2 %

Entertainment

Revenues

21.0

14.8

6.2

42 %

65.7

61.0

4.7

8 %

Operating income (loss) ex.
one-time items *

0.8

(2.1)

2.9

138 %

(9.3)

(7.2)

(2.1)

(29) %

Adjusted operating margin *

3.8 %

International

Revenues

69.6

76.8

(7.2)

(9) %

277.2

279.6

(2.4)

(1) %

Operating income (loss) ex.
one-time items *

3.1

6.1

(3.0)

(49) %

7.1

2.9

4.2

145 %

Adjusted operating margin *

4.5 %

7.9 %

2.6 %

1.0 %

Overhead

Revenues

—

2.8

(2.8)

(100) %

7.2

11.2

(4.0)

(36) %

Operating income (loss) ex.
one-time items *

(33.8)

(30.1)

(3.7)

(12) %

(94.6)

(98.1)

3.5

4 %

Operating income (loss) ex.
one-time items *

58.3

63.4

(5.1)

(8) %

47.1

35.8

11.3

32 %

Adjusted operating margin *

12.2 %

12.5 %

3.0 %

2.2 %

NM – Not meaningful

* Please refer to Table 4 for one-time items and a reconciliation of the non-GAAP financials.

Table 3

Scholastic Corporation

Supplemental Information

(Unaudited)

(In $ Millions)

Selected Balance Sheet Items

05/31/26

05/31/25

Cash and cash equivalents

134.9

124.0

Accounts receivable, net

236.4

273.4

Inventories, net

265.0

250.2

Accounts payable

144.2

157.3

Deferred revenue

179.2

178.8

Accrued royalties

50.3

69.1

Film related obligations

17.1

18.3

Lines of credit and long-term debt

80.5

256.2

Net cash (debt) (1)

48.9

(136.6)

Total stockholders’ equity

750.8

946.5

Selected Cash Flow Items

Three months ended

Twelve months ended

05/31/26

05/31/25

05/31/26

05/31/25

Net cash provided by (used in) operating activities

90.0

106.9

50.9

124.2

Net proceeds from sale and lease transactions (3)

—

452.4

—

Property, plant and equipment additions

(15.0)

(12.3)

(48.4)

(52.2)

Prepublication expenditures

(4.9)

(8.7)

(17.9)

(24.5)

Net borrowings (repayments) of film related obligations

(0.1)

0.3

(1.0)

(18.3)

Free cash flow (use) (2)

70.0

86.2

436.0

29.2

(1)

Net cash (debt) is defined by the Company as cash and cash equivalents less production cash of $5.5
and $4.4 as of May 31, 2026 and May 31, 2025, respectively, net of lines of credit and short-term and
long-term-debt. Film related obligations are not included. The Company utilizes this non-GAAP financial
measure, and believes it is useful to investors, as an indicator of the Company’s effective leverage and
financing needs.

(2)

Free cash flow (use) is defined by the Company as net cash provided by or used in operating activities
(which includes royalty advances) and cash acquired through acquisitions and from the sale of assets,
reduced by spending on property, plant and equipment and prepublication costs and adjusted for net
cash flows from film related obligations. The Company believes that this non-GAAP financial measure
is useful to investors as an indicator of cash flow available for debt repayment and other investing
activities, such as acquisitions. The Company utilizes free cash flow as a further indicator of operating
performance and for planning investing activities.

(3)

Excludes tax impact from sale-leaseback transactions.

Table 4

Scholastic Corporation

Supplemental Results – Excluding One-Time Items

(Unaudited)

(In $ Millions, except per share data)

Three months ended

05/31/2026

05/31/2025

Reported

One-time
items

Excluding
One-time
items

Reported

One-time
items

Excluding
One-time
items

Diluted earnings (loss) per share (1)

0.45

1.79

2.19

0.59

0.29

0.87

Net income (loss) (2)

9.4

36.5

45.9

15.4

7.5

22.9

Earnings (loss) before income taxes (3)

14.5

42.6

57.1

48.9

9.9

58.8

Children’s Book Publishing and
Distribution (4)

60.3

—

60.3

57.6

0.6

58.2

Education (5)

27.0

0.9

27.9

30.7

0.6

31.3

Entertainment(6)

0.4

0.8

(3.0)

0.9

(2.1)

International (7)

2.9

0.2

3.1

3.7

2.4

6.1

Overhead (8)

(39.2)

5.4

(33.8)

(35.5)

5.4

(30.1)

Operating income (loss)

51.4

6.9

58.3

53.5

9.9

63.4

Twelve months ended

05/31/2026

05/31/2025

Reported

One-time
items

Excluding
One-time
items

Reported

One-time
items

Excluding
One-time
items

Diluted earnings (loss) per share (1)

2.34

(0.47)

1.87

(0.07)

0.55

0.48

Net income (loss) (2)

56.7

(11.3)

45.4

(1.9)

15.2

13.3

Earnings (loss) before income taxes (3)

85.2

(50.6)

34.6

(1.3)

20.0

18.7

Children’s Book Publishing and
Distribution (4)

142.9

0.8

143.7

130.7

0.6

131.3

Education (5)

(4.1)

4.3

0.2

6.3

0.6

6.9

Entertainment(6)

(16.1)

6.8

(9.3)

(12.1)

4.9

(7.2)

International (7)

6.4

0.7

7.1

(1.0)

3.9

2.9

Overhead (8)

(113.9)

19.3

(94.6)

(108.1)

10.0

(98.1)

Operating income (loss)

15.2

31.9

47.1

15.8

20.0

35.8

(1)

Earnings (loss) per share are calculated on non-rounded net income (loss) and shares outstanding. Recalculating
earnings per share based on rounded numbers may not yield the results as presented.

(2)

In the three and twelve months ended May 31, 2026, the Company recognized a benefit of $6.1 and a provision of
$39.3, respectively, for income taxes in respect to one-time pretax items. In the three and twelve months ended May
31, 2025, the Company recognized a benefit of $2.4 and $4.8, respectively, for income taxes in respect to one-time
pretax items.

(3)

In the three and twelve months ended May 31, 2026, the Company recognized a pretax loss of $17.2 related to the
sale of its 26.2% equity interest in a U.K.-based children’s book publishing business. In the three months ended May
31, 2026, the Company recognized an adjustment of $18.5 million to the pretax gain related to the sale-leaseback
transactions. In the twelve months ended May 31, 2026, the Company recognized a pretax gain of $99.7 related to
sale-leaseback transactions involving its facilities in New York City and Jefferson City, Missouri.

(4)

In the twelve months ended May 31, 2026, the Company recognized a pretax asset impairment charge of $0.8 related
to a certain product. In the three and twelve months ended May 31, 2025, the Company recognized a pretax asset
impairment charge of $0.6 related to a digital product.

(5)

In the three and twelve months ended May 31, 2026, the Company recognized pretax asset impairment charges of
$0.9 and $4.3, respectively, related to certain education and digital products. In the three and twelve months ended May
31, 2025, the Company recognized a pretax asset impairment charge of $0.6 related to certain digital products.

(6)

In the three and twelve months ended May 31, 2026, the Company recognized other pretax expenses of $0.4 and $1.4,
respectively. In the twelve months ended May 31, 2026, the Company recognized pretax severance of $0.2 and a pretax
asset impairment charge of $5.2 primarily related to certain film and television programs in development. In the three
and twelve months ended May 31, 2025, the Company recognized pretax severance of $0.3 and $1.4, respectively,
related to cost-savings initiatives, pretax costs of $0.4 and $3.0, respectively, related to the acquisition of 9 Story Media
Group and pretax asset impairment charges of $0.2 and $0.5, respectively, related to the early exit of certain leased
office space in Canada and Ireland.

(7)

In the three and twelve months ended May 31, 2026, the Company recognized pretax severance of $0.2 and $0.7,
respectively, related to cost-savings initiatives. In the three and twelve months ended May 31, 2025, the Company
recognized pretax severance of $1.3 and $2.8, respectively, related to cost-savings initiatives and a pretax asset
impairment charge of $1.1 related to the reorganization in China.

(8)

In the three and twelve months ended May 31, 2026, the Company recognized pretax severance of $3.7 and $15.5,
respectively, related to cost-savings initiatives, and other pretax expenses of $1.7 and $3.8, respectively. In the three
and twelve months ended May 31, 2025, the Company recognized pretax severance of $3.4 and $7.6, respectively,
related to cost-savings initiatives, other pretax expenses of $1.9 and $2.3, respectively, and an asset impairment
charge of $0.1 related to the early exit of an office lease.

Table 5

Scholastic Corporation

Consolidated Statements of Operations – Supplemental

Adjusted EBITDA

(Unaudited)

(In $ Millions)

Three months ended

05/31/26

05/31/25

Earnings (loss) before income taxes as reported

14.5

48.9

One-time items before income taxes

42.6

9.9

Earnings (loss) before income taxes excluding one-time items

57.1

58.8

Interest (income) expense (1)

0.9

4.5

Depreciation and amortization

26.7

27.9

Adjusted EBITDA (2)

84.7

91.2

Twelve months ended

05/31/26

05/31/25

Earnings (loss) before income taxes as reported

85.2

(1.3)

One-time items before income taxes

(50.6)

20.0

Earnings (loss) before income taxes excluding one-time items

34.6

18.7

Interest (income) expense (1)

11.6

16.4

Depreciation and amortization

105.3

110.3

Adjusted EBITDA (2)

151.5

145.4

(1)

Amounts include production loan interest amortized into cost of goods sold.

(2)

Adjusted EBITDA is defined by the Company as earnings (loss), excluding one-time items,
before interest, taxes, depreciation and amortization. The Company believes that Adjusted
EBITDA is a meaningful measure of operating profitability and useful for measuring returns
on capital investments over time as it is not distorted by unusual gains, losses, or other
items.

Table 6

Scholastic Corporation

Consolidated Statements of Operations – Supplemental

Adjusted EBITDA by Segment

(Unaudited)

(In $ Millions)

Three months ended

05/31/26

CBPD (1)

EDUC (1)

ENT (1)

INTL (1)

OVH (1)(4)

Total

Earnings (loss) before income taxes as reported

60.1

27.0

(0.0)

(14.8)

(57.8)

14.5

One-time items before income taxes

—

0.9

0.4

17.4

23.9

42.6

Earnings (loss) before income taxes excluding
one-time items

60.1

27.9

0.4

2.6

(33.9)

57.1

Interest (income) expense (2)

0.2

0.0

0.5

0.0

0.2

0.9

Depreciation and amortization (3)

8.3

6.0

8.0

2.2

26.7

Adjusted EBITDA (4)

68.6

33.9

8.9

4.8

(31.5)

84.7

Three months ended

05/31/25

CBPD (1)

EDUC (1)

ENT (1)

INTL (1)

OVH (1)

Total

Earnings (loss) before income taxes as reported

57.5

30.7

(2.9)

2.9

(39.3)

48.9

One-time items before income taxes

0.6

0.9

2.4

5.4

9.9

Earnings (loss) before income taxes excluding
one-time items

58.1

31.3

(2.0)

5.3

(33.9)

58.8

Interest (income) expense (2)

0.1

0.0

0.7

0.1

3.6

4.5

Depreciation and amortization (3)

8.0

6.2

5.0

2.0

6.7

27.9

Adjusted EBITDA

66.2

37.5

3.7

7.4

(23.6)

91.2

Twelve months ended

05/31/26

CBPD (1)

EDUC (1)

ENT (1)

INTL (1)

OVH (1)(4)

Total

Earnings (loss) before income taxes as reported

142.5

(4.1)

(17.9)

(12.9)

(22.4)

85.2

One-time items before income taxes

0.8

4.3

6.8

17.9

(80.4)

(50.6)

Earnings (loss) before income taxes excluding
one-time items

143.3

0.2

(11.1)

5.0

(102.8)

34.6

Interest (income) expense (2)

0.4

0.0

2.2

0.1

8.9

11.6

Depreciation and amortization (3)

31.2

24.9

24.4

8.1

16.7

105.3

Adjusted EBITDA (4)

174.9

25.1

15.5

13.2

(77.2)

151.5

Twelve months ended

05/31/25

CBPD (1)

EDUC (1)

ENT (1)

INTL (1)

OVH (1)

Total

Earnings (loss) before income taxes as reported

130.5

6.3

(14.3)

(3.1)

(120.7)

(1.3)

One-time items before income taxes

0.6

4.9

3.9

10.0

20.0

Earnings (loss) before income taxes excluding
one-time items

131.1

6.9

(9.4)

0.8

(110.7)

18.7

Interest (income) expense (2)

0.2

0.0

3.2

0.1

12.9

16.4

Depreciation and amortization (3)

31.1

24.8

21.5

7.9

25.0

110.3

Adjusted EBITDA

162.4

31.7

15.3

8.8

(72.8)

145.4

(1)

The Company’s segments are defined as the following: CBPD – Children’s Book Publishing and Distribution
segment; EDUC – Education segment; ENT – Entertainment segment; INTL – International segment; OVH –
unallocated overhead.

(2)

Amounts include production loan interest amortized into cost of goods sold.

(3)

Depreciation and amortization in the Children’s Book Publishing and Distribution, Education and International
segments includes amounts allocated from overhead.

(4)

Adjusted EBITDA for unallocated overhead and total includes the net cost impact of the sale-leaseback
transactions of $7.8 and $14.5 for the three and twelve months ended May 31, 2026, respectively.

Table 7

Scholastic Corporation

Pro Forma Supplemental Information

(Unaudited)

(In $ Millions)

Three months ended

Change

05/31/26

05/31/25

Adjusted unallocated overhead

(33.8)

(30.1)

(3.7)

(12) %

Incremental full-year impact of sale-leaseback transactions

—

(3.9)

3.9

Pro forma Adjusted unallocated overhead (1)

(33.8)

(34.0)

0.2

1 %

Adjusted operating income

58.3

63.4

(5.1)

(8) %

Incremental full-year impact of sale-leaseback transactions

—

(3.9)

3.9

Pro forma Adjusted operating income (1) (2)

58.3

59.5

(1.2)

(2) %

Adjusted EBITDA

84.7

91.2

(6.5)

(7) %

Incremental full-year impact of sale-leaseback transactions

—

(7.5)

7.5

Pro forma Adjusted EBITDA (1) (2)

84.7

83.7

1.0

1 %

Twelve months ended

Change

05/31/26

05/31/25

Adjusted unallocated overhead

(94.6)

(98.1)

3.5

4 %

Incremental full-year impact of sale-leaseback transactions

(11.8)

(15.9)

4.1

Pro forma Adjusted unallocated overhead (1)

(106.4)

(114.0)

7.6

7 %

Adjusted operating income

47.1

35.8

11.3

32 %

Incremental full-year impact of sale-leaseback transactions

(11.8)

(15.9)

4.1

Pro forma Adjusted operating income (1) (2)

35.3

19.9

15.4

77 %

Adjusted EBITDA

151.5

145.4

6.1

4 %

Incremental full-year impact of sale-leaseback transactions

(19.1)

(30.1)

11.0

Pro forma Adjusted EBITDA (1) (2)

132.4

115.3

17.1

15 %

(1)

Pro forma Adjusted unallocated overhead, Pro forma Adjusted operating income and Pro forma Adjusted
EBITDA reflect the net impacts of the sale-leaseback transactions as if the transactions had occurred on
June 1, 2024, the beginning of fiscal 2025. Fiscal 2026 reported results include the actual impact beginning
upon completion of the transactions in December 2025. The incremental adjustments shown above reflect
the additional impact for the portion of fiscal 2026 prior to completion of the transactions. Fiscal 2025
reported results include no impact from the transactions.

(2)

For fiscal 2026, the full-year pro forma cost impact was $19.0 on Adjusted operating income, consisting of
$7.2 recognized in reported fiscal 2026 results and $11.8 of incremental adjustments. For fiscal 2026, the
full-year pro forma cost impact on Adjusted EBITDA was $33.6, consisting of $14.5 recognized in reported
fiscal 2026 results and $19.1 of incremental adjustments. For fiscal 2025, the full-year pro forma cost
impacts were $15.9 on Adjusted operating income and $30.1 on Adjusted EBITDA.

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SOURCE Scholastic Corporation