Barnes & Noble Education (NYSE: BNED) reported Q3 EPS of ($0.71), $0.53 worse than the analyst estimate of ($0.18). Revenue for the quarter came in at $402.8 million versus the consensus estimate of $433.79 million.

Outlook:

While the COVID-19 virus and its variants have had a greater than expected impact on the Company’s business in fiscal year 2022, based on its current views that include an improved outlook for on campus events and activities during the Spring, the Company continues to expect to generate positive non-GAAP Adjusted EBITDA in fiscal year 2022. While the Company currently believes that non-GAAP Adjusted EBITDA will significantly improve in fiscal year 2023, the Company now expects non-GAAP Adjusted EBITDA for fiscal year 2023 to be lower than pre-COVID levels, as the direct and ancillary impacts of the pandemic, including wholesale supply issues and inflationary pressures, are expected to continue. The Company expects to be in a position to provide additional insight on its fiscal year 2023 outlook when it reports year-end earnings in June.

For earnings history and earnings-related data on Barnes & Noble Education (BNED) click here.