Pearson Warns of US Weakness, Sees 2019 Profit at Bottom of Guidance

Date : 09/26/2019 @ 6:57AM
Source : Dow Jones News
Stock : Pearson Plc (PSO)
Quote : 7.6  0.0 (0.00%) @ 1:38PM

Pearson Warns of US Weakness, Sees 2019 Profit at Bottom of Guidance

Pearson (LSE:PSON)
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   By Adria Calatayud 
 

Pearson PLC (PSON.LN) warned Thursday of a weaker than expected third-quarter performance at its key U.S. higher-education courseware segment, and said it anticipates full-year adjusted operating profit at the bottom of its guidance.

The London-listed education publisher said revenue at its U.S. higher-education courseware segment fell around 10% for the first nine months of the year. The company now expects revenue from that business to decline by 8% to 12% in 2019, having previously guided for a fall of up to 5%.

Pearson said it now expects adjusted operating profit to be at the bottom of its guidance range of 590 million to 640 million pounds ($732.1 million to $794.1 million), while adjusted earnings per share are forecast at the low end of its range of 57.5 pence to 63.0 pence.

The company said it still expects group revenue to stabilize this year.

 

Write to Adria Calatayud at adria.calatayudvaello@dowjones.com

 

(END) Dow Jones Newswires

September 26, 2019 02:42 ET (06:42 GMT)

Copyright (c) 2019 Dow Jones & Company, Inc.

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