TAL Education Registers 84% Revenue Decline In Q1

by Shivani Kumaresan, Benzinga Staff Writer

July 29, 2022 5:59 AM | 1 min read |

TAL Education Group TAL reported a first-quarter FY23 sales decline of 83.8% year on year to $224 million.
Operating costs and expenses declined 82.8% Y/Y to $260 million.
The gross profit decreased 82.4% Y/Y to $135.5 million with a gross margin of 60.4%.
The company’s loss from operations narrowed to $(28.3) million in the quarter.
The company held $2.9 billion in cash and equivalents as of May 31, 2022.
EPS loss was $(0.07) versus $(0.16) in the previous year.
Price Action: TAL shares are trading lower by 5.07% at $5.06 in premarket on the last check Friday.