Barnes & Noble Education Q3 Revenue Climbs 11.3%, First Day Sales Up 32%
Barnes & Noble Education posted fiscal Q3 revenue of $515.1 million, up 11.3% year-over-year, and net income of $6.7 million, with adjusted EBITDA of $23.6 million. BNC First Day program revenue surged 32.1% to $293.6 million and the company plans to initiate a dividend in fiscal 2027 Q1.
1. Fiscal Third Quarter Financial Results
Barnes & Noble Education reported fiscal Q3 revenue of $515.1 million, an 11.3% increase from $462.8 million a year ago. Net income declined to $6.7 million from $17.9 million in the prior-year period, while adjusted EBITDA slipped to $23.6 million from $24.8 million due in part to lower gross margins.
2. BNC First Day Program Growth
Revenues from the BNC First Day program rose 32.1% year-over-year to $293.6 million as institutional adoption expanded. A total of 237 campus stores participated in the spring 2026 term, covering approximately 1.25 million students versus 957,000 in the prior year.
3. Dividend Program and Investor Day
The board approved the launch of a dividend program beginning in the first quarter of fiscal 2027. Management also scheduled a virtual investor day on June 25, 2026 to present its strategic roadmap, growth initiatives and financial outlook.
4. Share Performance
Shares have declined roughly 9% since the start of the year and are down about 3% over the past 12 months, reflecting mixed reactions to the quarter’s earnings and outlook.