Filing Flows › McGraw Hill (MH) › Q2 FY27
McGraw Hill (MH) Q2 FY27 earnings results (second quarter fiscal 2027)
10-Q filed Nov 5, 2026
McGraw Hill (MH) reported revenue of $632M for the second quarter fiscal 2027 (Q2 FY27), -6% from a year earlier and +15% from the quarter before. Operating margin was 22.3%, net earnings $86.4M (13.7% of revenue).
McGraw Hill, Q2 FY27: revenue $632M (-6% year over year), operating margin 22.3%, net earnings $86.4M, operating cash flow $189M. The chart follows the revenue to costs, profit and cash.
| Q2 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $632M | +15% | -6% |
| Gross profit | $500M | +14% | -6% |
| Operating profit | $141M | +23% | -10% |
| Net earnings | $86.4M | +49% | -18% |
| Operating cash flow | $189M | 315× | -28% |
| Free cash flow | $164M | — | -33% |
What changed
Revenue was $632.2M in Q2 FY27, down 6% year over year and up 15% from the previous quarter. Digital was the largest line at 57% of revenue. Print lost $46.2M year over year (down 15%), 125% of the total change.
Gross margin was 79.2%, down 0.1 points from Q2 FY26. Operating profit was $141.1M, a 22.3% margin (down 1.1 points year over year). Operating expenses fell 4% while revenue fell 6%. Net earnings were $86.4M, down 18% year over year. The effective tax rate was 7.1%.
Operating cash flow was $189.5M (down 28% year over year), 219% of net earnings. Non-cash charges added back $98.3M of depreciation and amortization and $1.7M of share-based compensation. Capital expenditures of $25.4M left free cash flow of $164.1M.
Questions
What was McGraw Hill's revenue in the second quarter fiscal 2027?
McGraw Hill (MH) reported revenue of $632M for the second quarter fiscal 2027 (Q2 FY27), -6% from a year earlier and +15% from the quarter before.
Was McGraw Hill profitable in the second quarter fiscal 2027?
Operating profit was $141M (22.3% of revenue) and net earnings $86.4M.
Source: McGraw Hill 10-Q on SEC EDGAR.