McGraw Hill, Inc. (MH) Earnings Call Transcripts

McGraw Hill, Inc.'s Latest Earnings Call - Q4 FY2026

In the fiscal fourth quarter and full year ended March 31, 2026, McGraw Hill, Inc. reported revenue of $2.1 billion, exceeding expectations and reflecting a 2% year-over-year increase. Adjusted EBITDA also surpassed guidance at $744 million, with a margin expansion to 35.4%. For fiscal year 2027, management provided guidance for revenue between $2.115 billion and $2.175 billion, indicating a stable outlook despite a challenging K-12 market, while recurring revenue is expected to grow to between $1.587 billion and $1.627 billion, ahead of prior expectations.

Reported metrics

Guidance from management

Management expects fiscal year 2027 revenue to be in the range of $2.115 billion to $2.175 billion, with adjusted EBITDA projected between $750 million and $790 million, both above prior IPO expectations.

What management said

Yes. I think the areas that we are most focused on for upside will continue to come in the open territory and supplemental intervention, and so we'll continue to watch that. And then like I mentioned, Texas and California. As we continue to see more calls, we'll monitor that closely, but the areas that provide me the most excitement is around supplemental intervention where we have 5% share, and that represents about...

Sure. ELA becomes more meaningful as we move on. And I think that also not just as we see California ELA, but if you're looking at lighter gray bar section. As we see that super-cycle being rolled out, ELA becomes a bigger component. And to highlight for us, that's been 40% of our revenue. So we see that becoming more and more important over time. As I highlighted -- as we've said before, 80% of the California math...

What analysts pressed on

Analysts expressed concerns regarding the K-12 segment's performance, particularly the slower-than-expected California math adoption cycle and the impact of digital tools on student engagement. There are worries about potential backlash from parents preferring traditional methods over digital solutions.

Main topics on the call

• Revenue Performance — McGraw Hill's revenue for fiscal year 2026 reached $2.1 billion, exceeding the high end of guidance and reflecting a 2% increase year-over-year. Management stated, "We exceeded our IPO expectations for revenue and adjust...
• Recurring Revenue Growth — Recurring revenue grew by 6% year-over-year, now representing over 73% of total revenue. This growth was characterized as "reinforcing the durability of our model," indicating a strong foundation for future performance.
• K-12 Market Challenges — K-12 revenue declined by 9% year-over-year to $884 million, attributed to a smaller market opportunity and difficult comparisons. Management noted, "The California math adoption cycle has been slower than expected," indi...
• Higher Education Momentum — Higher education revenue grew by 12% year-over-year, driven by market share gains and strong demand for inclusive access models. Management highlighted that "market share is now approaching 31% according to NPI," demonst...

Read the full McGraw Hill, Inc. transcript (Q4 FY2026) → Summary generated from the call transcript; every figure above is stated by management on the record.

Earnings Call History

EarningsCalls.dev has 7 McGraw Hill, Inc. earnings call transcripts on record, spanning August 14, 2025 to June 11, 2026. Based on this history, McGraw Hill, Inc. reports quarterly. The most recent call on file is dated June 11, 2026. The full list is below — each row opens the complete, free-to-read transcript.

Ticker

MH

Exchange

NYSE

Country

US

Sector

Consumer Discretionary

Industry

Diversified Consumer Services

Calls on record

7

First call

August 14, 2025

Most recent

June 11, 2026

Reporting cadence

quarterly