Facebook
Facebook
Twitter
Twitter
LinkedIn
LinkedIn
Email
Email
0 Comments
Comments
Shares of Scholastic (SCHL) plummeted more than 20% Wednesday morning as the children’s book publisher’s sharply dimmed 2013 earnings outlook spooked Wall Street.
Citing shrinking sales of higher-margin products and uncertainty caused by the fiscal cliff, Scholastic warned late Tuesday it now anticipates posting EPS from continuing operations of $1.40 to $1.60 for 2013, well off its earlier projection of $2.20 to $2.50.
Even the optimistic end of the new range would badly miss expectations on Wall Street for full-year EPS of $2.27.
0 Comments
View Comments
- Companies:
- Scholastic Inc.
- Places:
- Gloomier 2013 View
- New York
Related Content
Comments