John Wiley & Sons, Inc. · NYSE:WLY
John Wiley & Sons — Q2 2022 Earnings Presentation
17 slides from John Wiley & Sons's earnings presentation, Dec 7, 2021
Slide 1: Second Quarter Fiscal 2022 Earnings Review
ENABLING DISCOVERY | POWERING EDUCATION | SHAPING WORKFORCES Second Quarter Fiscal 2022 Earnings Review December 7, 2021
Slide 2: Safe Harbor Statement and Non-GAAP Measures
SAFE HARBOR STATEMENT NON-GAAP MEASURES This presentation contains certain forward-looking statements In this presentation, management provides the following non-GAAP concerning the Company's operations, performance, and financial performance measures: condition. Reliance should not be placed on for
Slide 3: Wiley is enabling discovery, powering education and shaping workforces
Wiley is enabling discovery, powering education and shaping workforces
Slide 4: Second Quarter Summary
Second Quarter Summary Revenue GAAP EPS Adj. EPS Adj. EBITDA +8% -19% +6% +7% $533M $0.99 $1.29 $127M All variances at constant currency except GAAP EPS Consistent strategies and sharp execution driving revenue growth across segments (+5% organic) ▪ Research (+9%, +4% organic) ▪ Academic & Professio
Slide 5: Spotlight on corporate market momentum
Spotlight on corporate market momentum Q2 YOY revenue growth Research Education Corporate Solutions Professional Learning Talent Development +17% +15% +67% Researcher Career Centers Corporate Training and Learning Recruit, Train, Deploy Science Databases Professional Development Content Reskilling a
Slide 6: Research Publishing & Platforms
Research Publishing & Platforms (millions) Q2 2022 Change Change CC Research Publishing $263 9% 9% Research Platforms $12 15% 15% TOTAL REVENUE* $275 9% 9% ADJUSTED EBITDA $101 10% ADJ. EBITDA MARGIN 37% *Organic revenue +4% (excluding acquisition and currency impacts) ▪ Continued double-digit growt
Slide 7: Academic & Professional Learning
Academic & Professional Learning (millions) Q2 2022 Change Change CC Education Publishing $99 (4%) (5%) Professional Learning $78 16% 15% TOTAL REVENUE $177 4% 3% ADJUSTED EBITDA $59 18% ADJ. EBITDA MARGIN 33% ▪ Professional Learning recovery strong as corporations and professionals focus intensely
Slide 8: Education Services
Education Services (millions) Q2 2022 Change Change CC University Services $58 3% 3% Talent Development $23 72% 67% TOTAL REVENUE $81 17% 15% ADJUSTED EBITDA $10 (35%) ADJ. EBITDA MARGIN 12% ▪ University Services performance reflects slower enrollment growth (+3%) as compared to the COVID-driven acc
Slide 9: Financial Position and Outlook
Financial Position and Outlook
Slide 10: First Half Review
First Half Review Revenue +9% Adjusted EPS +10% Adjusted EBITDA +9% $2.14 $1,021 $1.91 $222 $922 $202 H1'21 H1'22 H1'21 H1'22 H1'21 H1'22 Strong first half revenue growth in line with expectations (+6% organic) • Research +10% (+4% organic) • Academic & Professional Learning +5% • Education Services
Slide 11: Fiscal 2022 Outlook Reaffirmed
Fiscal 2022 Outlook Reaffirmed Metric (Millions, except EPS) Fiscal 2020 Fiscal 2021 Fiscal 2022 Outlook Revenue $1,831 $1,942 $2,070 to $2,100 Adjusted EBITDA $356 $419 $415 to $435 Adjusted EPS $3.30 $4.00 $4.00 to $4.25 Free Cash Flow $173 $257 $200 to $220 11 Q222 Earnings Presentation (2).pptx
Slide 12: Financial Position and Capital Allocation
Financial Position and Capital Allocation Modest Leverage: Net Debt/EBITDA ratio of 2.1 TTM inclusive of acquisitions vs. 1.9 in the prior year $56M Free Cash Flow: Use of $126M (even with prior year). FCF historically a use through H1 due to timing of annual journal $38M subscription receipts. Wile
Slide 13: Wiley is driving impact and sustainability
Wiley is driving impact and sustainability Wiley is considered very low risk for ESG: rated in top 4th percentile (581 out of 14,979 globally rated companies)* Low ESG Risk 4th Impact aligned with growth strategies: Wiley driving positive social impact through discovery and learning, and job placeme
Slide 14: Key Takeaways
Key Takeaways Strong first half performance driven by consistent strategies and sharp execution Favorable trends continuing for open research, career-connected education and corporate talent development Wiley driving positive social impact by delivering more cutting-edge knowledge to the world faste
Slide 15: Thanks for joining us.
ENABLING DISCOVERY | POWERING EDUCATION | SHAPING WORKFORCES Thanks for joining us. IR website at https://investors.wiley.com/ Q3 2022 Earnings Call – March 3, 2022 Contact us for follow-up at: brian.campbell@wiley.com
Slide 16: Appendix – Reconciliation of US GAAP to Non-GAAP EPS
Appendix – Reconciliation of US GAAP to Non-GAAP EPS Reconciliation of US GAAP EPS to Non-GAAP Adjusted EPS (1)See Explanation of Usage of Non-GAAP Performance Measures included in this Three Months Ended Six Months Ended supplementary information for additional details on the reasons why management
Slide 17: Appendix – Reconciliation of Net Income to Adjusted EBITDA
Appendix – Reconciliation of Net Income to Adjusted EBITDA JOHN WILEY & SONS, INC. SUPPLEMENTARY INFORMATION (1) RECONCILIATION OF US GAAP NET INCOME TO NON-GAAP EBITDA AND ADJUSTED EBITDA (unaudited) Three Months Ended Six Months Ended October 31, October 31, 2021 2020 2021 2020 Net Income $ 55,967