Overview

• US research publisher's preliminary Q4 revenue rose 1% yr/yr

• Preliminary Q4 adjusted EPS rose 22% yr/yr

Outlook

• Company expects fiscal 2027 organic revenue growth in the low-to-mid single digit range

• Wiley sees fiscal 2027 adjusted EBITDA margin at 26.5% to 27.5%

• Company forecasts fiscal 2027 adjusted EPS of $4.60 to $5.05

• Wiley expects fiscal 2027 free cash flow of $205 mln

Result Drivers

• RESEARCH GROWTH - Q4 Research revenue rose 5%, driven by strong submissions, gold open access, and AI licensing

• LEARNING SEGMENT DECLINE - Q4 Learning revenue fell 6%, reflecting lower AI licensing revenue, macro headwinds, and retail channel softness

• MARGIN EXPANSION - Adjusted EBITDA margin rose due to cost discipline, favorable mix, and lower corporate expenses from restructuring and technology transformation

Company press release: ID:nBwbrxMnxa

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q4 Revenue	Slight Miss*	$448 mln	$450 mln (1 Analyst)
Q4 Adjusted EPS	Beat	$1.67	$1.65 (1 Analyst)
Q4 EPS		$2.61

*Applies to a deviation of less than 1%; not applicable for per-share numbers.

Analyst Coverage

• The one available analyst rating on the shares is "buy"

• The average consensus recommendation for the consumer publishing peer group is "buy"

• Wall Street's median 12-month price target for John Wiley & Sons Inc is $66.00, about 52.3% above its June 15 closing price of $43.33

• The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 7 three months ago

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