Why Scholastic Shares Are Rising

Scholastic Corp SCHL shares are trading higher after the company reported second-quarter EPS and sales results were higher year over year.

Scholastic reported quarterly earnings of $1.93 per share. The company also reported $524.20 million in sales this quarter. This represents a 29% increase over sales of $406.20 million in the same period last year.

"Building on the momentum in the first three months of the fiscal year, we had a strong second quarter with the book fairs channel leading the way and outperforming management's expectations. The number of in-person book fairs is approximately 70% of pre-pandemic levels and revenue-per-fair has been better than anticipated," said Peter Warwick, President and Chief Executive Officer.

"Our education solutions business has seen higher sales of physical and digital product for both curriculum and supplemental materials including PreK On My Way and our new Rising Voices offering, which provides culturally relevant texts celebrating the stories of the historically underrepresented," Warwick added.

Scholastic has a 52-week high of $40.47 and a 52-week low of $22.37.