HMHC - Houghton Mifflin Harcourt soars after 21% positive revenue surprise

Houghton Mifflin Harcourt Company (HMHC +15.3%) shares surge as the company posts revenue growth of 25.9% Y/Y and earnings well ahead of expectations. The revenue increase was primarily due to strong net sales in Extensions, consisting of our Heinemann brand, intervention and supplemental products as well as professional services Raises FY 2021 Guidance: Billings are now expected to be $1,075-$1,095M vs prior expectations of $980-$1020M. Unlevered free cash flow guidance raised to 17-19% of billings from 12-14% of billings. Annualized Recurring Revenue guidance is now 12-15% of billings from 10-15% of billings. This is the second time this year the company has raised its guidance after a similar raise following Q2.

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Houghton Mifflin Harcourt soars after 21% positive revenue surprise