EDUCATIONAL DEVELOPMENT CORP

Educational Development Corporation filed its definitive proxy statement for its 2026 Annual Meeting of Shareholders, scheduled for July 8, 2026, at its corporate offices in Tulsa, Oklahoma. Shareholders will vote on the election of two Class I directors, the ratification of HoganTaylor LLP as the independent auditor, and an advisory vote on named executive officer compensation. The record date for voting was May 19, 2026, with 8,511,364 shares outstanding. Fiscal year 2026 executive compensation details were also provided, with bonuses reflecting discretionary awards for meeting objectives including the sale of the Hilti Complex and paying off bank debts.

EDUCATIONAL DEVELOPMENT CORP reported net earnings of $2.33 million for fiscal year 2026, a significant improvement from a $5.26 million net loss in fiscal year 2025. This turnaround was primarily driven by a $12.24 million gain from the sale of its Hilti Complex property, which also enabled the company to pay off all outstanding debt. Despite the improved profitability, net revenues decreased by 33.0% to $22.91 million, impacted by declines in both the PaperPie and Publishing divisions.

Educational Development Corporation announced its fiscal 2026 and fourth quarter financial results, highlighting a significant strategic shift. The company became debt-free by paying off $30.9 million in bank borrowings, largely funded by the $32.2 million sale of the Hilti Complex. For fiscal 2026, net earnings were $2.3 million, or $0.27 per share, despite net revenues declining to $22.9 million. The fourth quarter saw a net loss of $(3.1) million on revenues of $4.2 million, but the company is implementing cost-cutting measures and inventory reductions to bolster its financial position.

Educational Development Corporation announced the schedule for its fiscal year 2026 earnings call and the Annual Meeting of Shareholders. The earnings call is set for Tuesday, May 19, 2026, at 3:30 PM CT. The Annual Meeting of Shareholders will take place on July 8, 2026, at 10:00 AM CT at the company's corporate offices. Shareholders of record as of May 19, 2026, will be eligible to vote.