Barnes & Noble Education, Inc
Description
Barnes & Noble Education, Inc. operates bookstores for college and university campuses, and K-12 institutions primarily in the United States. It operates in two segments, Retail and Wholesale. The company sells and rents new and used print textbooks, digital textbooks, and publisher hosted digital courseware through physical and virtual bookstores, as well as directly to students through Textbooks.com. In addition, it offers First Day and First Day Complete access programs; and general merchandise, including collegiate and athletic apparel, school spirit products, lifestyle and wellness products, technology products, supplies, graduation products, and convenience items. Further, the company sources, sells, and distributes new and used textbooks; and sells hardware and a software suite of applications that provides inventory management and point-of-sale solutions to college bookstores. Additionally, it offers direct-to-student services. The company operates physical college and university bookstores; virtual bookstores; True Spirit e-commerce websites; pop-up retail locations; customized cafés and stand-alone convenience stores; and a media channel for brands targeting the college demographic. Barnes & Noble Education, Inc. was founded in 1965 and is headquartered in Basking Ridge, New Jersey.
About
CEO
Mr. Michael P. Huseby
Employees
2,520
Instrument type
Common Stock
Sector
Consumer Cyclical
Industry
Specialty Retail
MIC code
XNYS
Address
120 Mountain View Boulevard, Basking Ridge, NJ 07920, United States
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Summary
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Earnings
| Date | Estimate EPS | Actual EPS | Difference | % Surprise |
|---|---|---|---|---|
| Dec 8, 2025 | — | — | — | — |
| Sep 8, 2025 | — | — | — | — |
| Jun 30, 2025 | — | — | — | — |
| Mar 11, 2025 | — | — | — | — |
| Dec 9, 2024 | 60.00 | 1.87 | -58.13 | -96.88% |
Earnings estimate
|
Current Quarter
(Jan 2025)
|
Next Quarter
(Apr 2025)
|
Current Year
(Apr 2025)
|
Next Year
(Apr 2026)
|
|
|---|---|---|---|---|
| Number of analysts | 1 | 1 | 1 | 0 |
| Average estimate | 0.12 | -0.81 | -6.17 | 0.00 |
| Low estimate | 0.12 | -0.81 | -6.17 | 0.00 |
| High estimate | 0.12 | -0.81 | -6.17 | 0.00 |
| Last year EPS | -18.00 | -10.24 | -23.75 | — |
[stock_revenue_estimate]
Growth estimates
Current qtr (Jan 2025)
109.230%
Next qtr. (Apr 2025)
88.590%
Current year (Apr 2025)
86.360%
Next year (Apr 2026)
—
Next 5 years (per annum)
—
Past 5 years (per annum)
—
Income statement
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Fiscal date | 2024-04-30 | 2023-04-30 | 2022-04-30 | 2021-04-30 | 2020-04-30 |
| Total reported revenue | 1.57B | 1.54B | 1.50B | 1.41B | 1.85B |
| Cost of revenue | 1.21B | 1.19B | 1.15B | 1.18B | 1.41B |
| Gross profit | 356.78M | 349.44M | 342.83M | 230.34M | 442.55M |
| Operating expense | |||||
| Research & development | — | — | — | — | — |
| Selling general and admin | 311.57M | 357.61M | 353.97M | 316.16M | 404.47M |
| Other operating expenses | — | — | — | — | — |
| Operating income | 4.64M | -50.34M | -53.26M | -131.03M | -23.78M |
| Non operating interest income | |||||
| Income | 1.18M | 518,000 | — | — | — |
| Expense | 28.39M | 20.07M | 10.10M | 8.09M | 7.45M |
| Other income expense | -26.58M | -16.11M | -7.36M | -37.74M | -19.00M |
| Pretax income | -62.30M | -89.13M | -70.71M | -176.85M | -50.23M |
| Tax provision | 183,000 | 1.01M | -9.15M | -43.28M | -11.98M |
| Net income | -63.21M | -101.86M | -68.86M | -139.81M | -38.25M |
| Basic EPS | -23.75 | -42.28 | -28.99 | -57.75 | -17.44 |
| Diluted EPS | -23.75 | -42.28 | -28.99 | -57.75 | -17.44 |
| Basic average shares | 2.66M | 2.41M | 2.38M | 2.28M | 2.20M |
| Diluted average shares | 2.66M | 2.41M | 2.38M | 2.28M | 2.20M |
| EBITDA | 33.23M | -10.76M | -10.75M | -85.08M | 42.16M |
| Net income from continuing op. | -62.48M | -90.14M | -61.56M | -133.57M | -38.25M |
| Minority interests | — | — | — | — | — |
| Preferred stock dividends | — | — | — | — | — |
Balance sheet
| 2024 | 2023 | 2022 | 2021 | 2020 | |
|---|---|---|---|---|---|
| Fiscal date | 2024-04-30 | 2023-04-30 | 2022-04-30 | 2021-04-30 | 2020-04-30 |
| Total assets | 905.08M | 980.78M | 1.07B | 1.03B | 1.16B |
| Current assets | |||||
| Cash | — | — | — | — | — |
| Cash equivalents | — | — | — | — | — |
| Cash and cash equivalents | 10.46M | 14.22M | 8.80M | 8.02M | 8.24M |
| Other short term investments | — | — | — | — | — |
| Accounts receivable | 75.03M | 71.99M | 102.36M | 99.58M | 75.70M |
| Other receivables | 27.79M | 18.18M | 31.35M | 18.59M | 14.38M |
| Inventory | 377.03M | 353.33M | 323.47M | 309.80M | 469.65M |
| Prepaid assets | 1.29M | 2.34M | 2.29M | 2.90M | 766,000 |
| Restricted cash | — | — | — | — | — |
| Assets held for sale | — | 27.43M | 3.54M | — | — |
| Hedging assets | — | — | — | — | — |
| Other current assets | 39.16M | 49.51M | 59.90M | 61.93M | 16.18M |
| Non current assets | |||||
| Properties | 202.52M | 249.49M | 289.10M | 265.98M | 267.57M |
| Land and improvements | — | — | — | — | — |
| Machinery furniture equipment | 475.69M | 483.06M | 474.08M | 462.95M | 454.42M |
| Construction in progress | 2.36M | 4.64M | 3.71M | 4.44M | 3.88M |
| Leases | 106.76M | 120.69M | 125.32M | 131.78M | 141.60M |
| Accumulated depreciation | -531.90M | -542.76M | -532.05M | -535.53M | -518.89M |
| Goodwill | 94.19M | 110.63M | 131.69M | 160.30M | 184.53M |
| Investment properties | — | — | — | — | — |
| Financial assets | — | — | — | — | — |
| Intangible assets | 94.19M | 110.63M | 126.99M | 150.90M | 175.13M |
| Investments and advances | — | — | — | — | — |
| Other non current assets | 24.70M | 18.02M | 52.69M | 45.05M | 43.11M |
| Total liabilities | 834.51M | 850.03M | 843.18M | 738.10M | 738.68M |
| Current liabilities | |||||
| Accounts payable | 299.16M | 267.92M | 182.62M | 137.58M | 143.68M |
| Accrued expenses | 77.44M | 85.76M | 88.54M | 93.59M | 95.42M |
| Short term debt | 102.21M | 99.98M | 137.14M | 142.51M | 167.57M |
| Deferred revenue | — | — | — | — | — |
| Tax payable | — | — | — | — | — |
| Pensions | — | — | — | — | — |
| Other current liabilities | — | 8.42M | 7.10M | — | — |
| Non current liabilities | |||||
| Long term debt | 338.53M | 366.91M | 405.29M | 312.38M | 285.84M |
| Provision for risks and charges | — | — | — | — | — |
| Deferred liabilities | 1.29M | 1.97M | 1.43M | — | — |
| Derivative product liabilities | — | — | — | — | — |
| Other non current liabilities | 15.88M | 19.07M | 21.05M | 52.04M | 46.17M |
| Shareholders equity | |||||
| Common stock | 558,000 | 551,000 | 542,000 | 533,000 | 521,000 |
| Retained earnings | -656.57M | -593.36M | -491.49M | -422.64M | -282.83M |
| Other shareholders equity | — | — | — | — | — |
| Total shareholders equity | 70.58M | 130.75M | 228.37M | 293.01M | 417.75M |
| Additional paid in capital | 749.14M | 745.93M | 740.84M | 734.26M | 732.96M |
| Treasury stock | 22.55M | 22.38M | 21.51M | 19.14M | 32.90M |
| Minority interest | — | — | — | — | — |
Cash flow statement
| 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 | 2013 | 2012 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Activities | |||||||||||||
| Net Income | -62.48M | -90.14M | -61.56M | -133.57M | -38.25M | -24.37M | -252.57M | 5.36M | 84,000 | 19.13M | 35.11M | 30.17M | 36.43M |
| Depreciation | 40.56M | 42.19M | 42.51M | 45.95M | 65.94M | 66.96M | 65.59M | 53.32M | 52.69M | 50.51M | 48.01M | 46.85M | 45.34M |
| Deferred Taxes | -550,000 | 409,000 | -17.84M | -7.77M | -5.38M | -4.53M | -14.77M | -11.96M | -11.87M | -11.33M | -9.96M | -7.62M | -2.19M |
| Stock-Based Compensation | 3.38M | 4.72M | 5.73M | 4.68M | 6.64M | 9.02M | 8.46M | 9.37M | 6.67M | 4.74M | 2.37M | 1.02M | 620,000 |
| Other Non-Cash Items | 15.80M | 3.13M | 1.91M | 16.07M | 1.10M | 1.55M | 1.50M | 792,000 | 488,000 | 2.34M | — | 1.23M | — |
| Accounts Receivable | -11.60M | 43.49M | -15.53M | -30.24M | 7.32M | 1.81M | -13.67M | -6.41M | 25.73M | -37.55M | -2.71M | -5.51M | -4.17M |
| Accounts Payable | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Other Assets & Liabilities | -44.67M | -21.24M | -25.86M | 149.97M | 17.02M | 18.68M | -41.27M | 16.28M | -9.64M | -14.23M | -39.22M | -24.59M | -43.27M |
| Operating Cash Flow | -59.56M | -17.45M | -70.65M | 45.09M | 54.39M | 69.11M | -246.73M | 66.75M | 64.16M | 13.61M | 33.61M | 41.56M | 32.76M |
| Investing Activities | |||||||||||||
| Capital Expenditures | -14.07M | -25.09M | -33.61M | -27.56M | -36.19M | -46.42M | -42.81M | -34.67M | -50.79M | -48.45M | -38.25M | -38.76M | -40.48M |
| Net Intangibles | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Net Acquisitions | — | — | — | — | — | -10.00M | -58.26M | -186.72M | -17.84M | — | — | — | — |
| Purchase of Investments | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Sale of Investments | — | — | — | — | — | — | — | — | — | — | — | — | — |
| Investing Cash Flow | -13.99M | -24.50M | -32.74M | -27.23M | -37.02M | -55.62M | -100.03M | -224.44M | -68.74M | -58.19M | -37.45M | -49.11M | -43.30M |
| Financing Activities | |||||||||||||
| Long-Term Debt Issuance | 563.02M | 590.30M | 632.22M | 722.60M | 600.90M | 521.20M | 674.50M | 312.70M | 60.60M | — | — | — | — |
| Long-Term Debt Payments | -552.23M | -631.85M | -584.12M | -719.70M | -559.70M | -584.10M | -637.70M | -153.10M | -60.60M | — | — | — | — |
| Other Financing Charges | -16.32M | -7.27M | -265,000 | -1.08M | — | -3.40M | — | -2.91M | -9.67M | -46.84M | 64.13M | -373.83M | -23.70M |
| Financing Cash Flow | -5.70M | -49.68M | 93.57M | 14.70M | 81.14M | -131.17M | 71.96M | 306.88M | -28.29M | -46.84M | 64.13M | 6.79M | -23.70M |
| Other Cash Details | |||||||||||||
| End Cash Position | 28.57M | 31.99M | 21.04M | 16.82M | 9.01M | 14.77M | 16.87M | 21.70M | 30.87M | 44.82M | 132.12M | 55.42M | 38.25M |
| Income Tax Paid | — | — | — | 6.01M | — | 10.28M | 25.55M | 1.47M | 13.93M | 25.17M | 32.80M | 27.44M | 25.96M |
| Interest Paid | 24.94M | 19.02M | 8.17M | 6.78M | 6.80M | 8.59M | 8.04M | 2.08M | 1.15M | 210,000 | 385,000 | 1.03M | 362,000 |
| Free Cash Flow | -19.19M | 66.58M | -32.45M | 5.33M | -44.87M | 75.37M | 17.23M | 33.32M | 32.29M | -30.73M | 12.48M | 20.73M | 20.21M |
Top Institutional Holders
| Holder | Date Reported | Shares | Value | % Held |
|---|---|---|---|---|
| World Funds Tr-Philotimo Focused Growth & Income Fd | Sep 30, 2024 | 600,428 | 6.64M | 1.99% |
| Vanguard Total Stock Market Index Fund | Sep 30, 2024 | 471,200 | 5.21M | 1.56% |
| Vanguard Extended Market Index Fund | Sep 30, 2024 | 233,231 | 2.58M | 0.77% |
| Fidelity Extended Market Index Fund | Nov 30, 2024 | 83,746 | 926,230 | 0.28% |
| Fidelity Total Market Index Fund | Nov 30, 2024 | 26,913 | 297,657 | 0.09% |
| Invesco ETF Tr-Invesco FTSE RAFI US 1500 Small-Mid ETF | Nov 30, 2024 | 25,794 | 285,281 | 0.09% |
| Fidelity Series Total Market Index Fund | Nov 30, 2024 | 19,904 | 220,138 | 0.07% |
| Vanguard Balanced Index Fund | Sep 30, 2024 | 17,421 | 192,676 | 0.06% |
| Bridgeway Funds Inc-Ultra Small Company Market Fund | Sep 30, 2024 | 19,000 | 210,140 | 0.06% |
| iShares Core S&P Total U.S. Stock Market ETF | Nov 30, 2024 | 13,609 | 150,515 | 0.05% |
Article
Barnes & Noble Education: Strong Q2 Results But Questions Remain - Hold
Barnes & Noble Education reported decent Q2/FY2025 results, driven by strong growth in First Day program contributions and ongoing cost savings initiatives. While revenues were down slightly due to additional store closures, Adjusted EBITDA of $66 million increased by more than 30% on a year-over-year basis. However, persistent shareholder dilution in combination with a lack of investor communication and recent key executive resignations is keeping my from getting more constructive on the shares.
Dec 13, 2024
Article
Barnes & Noble Education Reports Second Quarter Fiscal Year 2025 Financial Results
2Q BNC First Day ® Program Revenues Increased ∼18% YOY to $235 million 2Q Net Income from Continuing Operations Improved by ∼$25 million Strategic Initiatives Drive 2Q Adjusted EBITDA growth by ∼$15 million to $66 million BASKING RIDGE, N.J., Dec. 09, 2024 (GLOBE NEWSWIRE) -- Barnes & Noble Education, Inc. (NYSE: BNED) , a leading solutions provider for the education industry, today reported sales and earnings for the second quarter ended on October 26, 2024.
Dec 9, 2024
Article
Barnes & Noble Education: A Maturing Turnaround Story
BNED shares surged to $13.84 post-DOE regulatory relief but faced volatility due to a $40 million ATM offering, before stabilizing with a strong Fall Quarter preannouncement. First Day Complete enrollment grew to 925,000 students, despite significant headwinds, indicating robust demand and the potential for further growth. Recent BNED contract awards at Syracuse and North Carolina A&T indicate renewed competitive momentum.
Dec 2, 2024
