Sales decline and profit increase reported in fiscal fourth quarter

  • Franklin Covey shares fall 10% after 4Q revenue misses estimates
  • Sales fell to $78 million in the quarter, compared to $78.8 million a year earlier
  • Company’s profit increased to $6.81 million, or 49 cents a share
  • Lower sales of legacy products and services, fewer onsite presentations, and lower materials sales cited as reasons for revenue decline
  • Franklin Covey expects fiscal 2024 adjusted EBITDA of $54.5 million to $58 million

Shares of Franklin Covey fell 10% after the company’s revenue fell and missed forecasts in the fiscal fourth quarter. Sales for the quarter dropped to $78 million, compared to $78.8 million in the same period last year. However, the company’s profit increased to $6.81 million, or 49 cents a share. The decline in revenue was attributed to lower sales of legacy products and services, fewer onsite presentations in the enterprise division, and lower materials sales in the education division. Despite these challenges, Franklin Covey expects to achieve adjusted EBITDA of $54.5 million to $58 million in fiscal 2024.

Factuality Level: 8
Factuality Justification: The article provides specific information about Franklin Covey’s revenue falling and missing forecasts in the fiscal fourth quarter. It includes details about the stock price decline, sales figures, and profit comparisons. The information is sourced from FactSet and the company itself. There is no apparent bias or opinion presented in the article.
Noise Level: 3
Noise Justification: The article provides relevant information about Franklin Covey’s financial performance in the fiscal fourth quarter, including the reasons for the decline in revenue. It includes specific figures and compares them to previous periods and analyst expectations. However, it lacks in-depth analysis or insights into the long-term trends or consequences of the company’s performance.
Financial Relevance: Yes
Financial Markets Impacted: Shares of Franklin Covey
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to financial topics as it discusses the financial performance of Franklin Covey and its impact on the stock market. However, there is no mention of an extreme event.
Public Companies: Franklin Covey (N/A)
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