Houghton Mifflin Harcourt (HMHC) Reports Q1 Loss of $2.77/sh
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Houghton Mifflin Harcourt Announces First Quarter 2020 Results
May 7, 2020 7:01 AM EDTBOSTON, May 7, 2020 /PRNewswire/ -- Learning company Houghton Mifflin Harcourt ("HMH" or the "Company") (Nasdaq: HMHC) today announced financial results for the three months ended March 31, 2020. Nationwide COVID-19-related school closings impacted first quarter net sales and billings performance beginning in March as customers delayed purchase decisions and were unable to receive shipments during the initial phases of their pandemic response. HMH took several proactive steps to support customers with virtual learning resources and to help mitigate the adverse impact of COVID-19 on its profitability and cash flow in 2020. These actions were announced on March 26 and March 27, respectively.
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