Houghton Mifflin Harcourt ‘comfortable’ with current amount of debt

By Devika Patel

Knoxville, Tenn., June 23 – Houghton Mifflin Harcourt Co. management is happy with the company’s current level of debt and company leadership has implemented changes within the business designed to create even more free cash flow than Houghton Mifflin has been generating up until now.

“We’re comfortable, very comfortable with the amount of debt that we have on the balance sheet today,” chief financial officer Joe Abbott said on the company’s investor day call on Friday.

“The changes that we’re making in our business are designed to help us generate even more free cash flow across all parts of the [business] cycle,” Abbott said.

Houghton Mifflin Harcourt is a Boston-based educational publisher in the K-12 market.

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