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John Wiley & Sons (WLY) investor relations material
John Wiley & Sons Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q2 revenue was $422 million, down 1% year-over-year, with strong Research and AI growth offset by declines in the Learning segment due to market headwinds and inventory management changes at Amazon.
Research publishing achieved 7% revenue growth, with record submission volumes and robust global demand, while AI initiatives generated $6 million in Q2 and $35 million year-to-date.
Adjusted EBITDA grew 8% to $115 million, with margin up 240–250 bps to 27.3% and adjusted operating margin at 18.8%.
Share repurchases increased 69% to $21 million in Q2; $73 million returned to shareholders year-to-date through buybacks and dividends.
Confident long-term outlook based on Research strength, transformative AI opportunities, and operational discipline.
Financial highlights
Adjusted EBITDA up 8% to $115 million; margin increased 240 bps to 27.3%.
Research segment revenue up 5–6%, with a 220 bps improvement in EBITDA margin to 33.5%.
Learning segment revenue declined 11%, with professional down 16% and academic down 8%.
Free cash flow use improved to $108 million in the first half, a 17% improvement from prior year; on track for $200 million full-year outlook.
Adjusted EPS up 12% to $1.10; GAAP diluted EPS up 14% to $0.84.
Outlook and guidance
Fiscal 2026 outlook reaffirmed: low-single digit adjusted revenue growth, adjusted EBITDA margin 25.5%–26.5%, adjusted EPS $3.90–$4.35, and free cash flow around $200 million.
Learning revenue declines expected to moderate in 2H as inventories stabilize, but remain down for the year.
Research and AI momentum expected to continue; steady subscription renewals for CY26.
Margin improvement and lower leverage anticipated through ongoing cost actions.
Q3 expected to be lighter due to AI project timing; growth weighted to Q4.
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