Scholastic, a leading educational publishing and media company, experienced lower participation and spending in its school-reading-events division during the fiscal second quarter. As a result, the company has adjusted its full-year revenue guidance. The decline in revenue and lower-than-expected profit has led to an 11% drop in shares, which now stand at $37.02 after-hours.
Quanex Building Products Faces Challenges in Third Quarter
Quanex Building Products, a manufacturing company, reported a decline in sales during the third quarter. The company attributes this decrease to macroeconomic challenges affecting its volumes. While Quanex declined to provide specific guidance for 2024, it expressed a "somewhat cautious outlook" for the year ahead. Consequently, shares have fallen by 9% to $31.59 after-hours.
Good Times Restaurants Sees Slight Revenue Decrease, but Narrows Loss
Good Times Restaurants, operating popular establishments such as Bad Daddy's Burger Bar and Good Times Burgers & Frozen Custard, experienced a slight decrease in revenue during the fiscal fourth quarter. However, the restaurant-operator managed to narrow its loss. Chief Executive Ryan Zink expressed that the results for this quarter do not fully reflect the potential of the brand. Nevertheless, shares have fallen by 5.4% to $2.46 after-hours.