John Wiley & Sons Inc Class A (NYSE:WLY) stock fell 4.56% (As on June 16, 11:16:23 AM UTC-4, Source: Google Finance) after the company posted mixed result for the fourth quarter of FY 22. Research Publishing & Platforms revenue rose 5% as reported and 6% at constant currency and excluding acquisitions, driven by growth in both publishing and platforms. Academic & Professional Learning revenue declined 7% as reported and 5% at constant currency driven by declines in Education Publishing and trade publishing, offsetting a continued strong recovery in corporate training. Education Services revenue rose 8% as reported and 6% at constant currency and excluding acquisition, with robust growth in Talent Development Services offsetting a decline in University Services.

WLY in the fourth quarter of FY 22 has reported the adjusted earnings per share of $1.08, beating the analysts’ estimates for the adjusted earnings per share of 97 cents. The company had reported the adjusted revenue growth of 4 percent to $546 million in the fourth quarter of FY 22, missing the analysts’ estimates for revenue of $558.6 million. Research Publishing & Platforms Adjusted EBITDA rose 12% mainly driven by revenue performance. Q4 Adjusted EBITDA margin of 34%. Academic & Professional Learning Adjusted EBITDA declined 3% at constant currency, with the revenue decline mitigated by lower employee costs. Q4 Adjusted EBITDA margin of 27%. Education Services Adjusted EBITDA s down 29% mainly due to investments to expand our corporate client relationships in Talent Development. Q4 Adjusted EBITDA margin of 12%.

The Company anticipates mid-single digit revenue growth at constant currency driven by Research and Education Services. Wiley expects gains from revenue growth to be offset by wage inflation and growth investments in Research and Corporate Talent Development. Adjusted EPS performance is expected to be adversely impacted by 35-cents of non-operational items such as higher interest expense, higher tax expense, and lower pension income. Wiley’s adjusted effective tax rate is expected to be 22-23% in Fiscal 2023, up from 20% in Fiscal 2022. This is primarily due to an anticipated less favorable mix of earnings by country and an increase in the UK statutory rate. Fiscal 2022 also benefitted from certain non-recurring tax benefits. Wiley expects positive cash earnings and lower incentive payouts for Fiscal 2022 performance compared to prior year to be offset by higher cash.