Strategic Education, Inc. reports developments across an education-services business serving working adult students and employer-sponsored learners. News commonly covers quarterly operating results, segment performance in Education Technology Services, U.S. Higher Education, and Australia/New Zealand, and activity at Sophia Learning, Workforce Edge, Strayer University, Capella University, and Torrens University.
Company updates also include employer and academic partnerships, online general education courses recommended for college credit, education-benefits administration, student and program achievements, annual reporting, shareholder meeting materials, and governance matters tied to the company’s public-company calendar.
Strategic Education (NASDAQ: STRA) reported a 8.6% revenue decline to $273.6 million for Q2 2022, compared to $299.2 million in Q2 2021. Adjusted net income fell to $20.5 million from $37.8 million year-over-year, while diluted EPS decreased to $0.63 from $0.83. The U.S. Higher Education segment noted an 8.6% drop in student enrollment. However, Education Technology Services saw a revenue increase of 23.9% to $16 million. The company remains optimistic about growth in Australia/New Zealand once immigration barriers are resolved. A quarterly cash dividend of $0.60 per share was declared.
Workforce Edge has partnered with Caesars Entertainment to offer nearly 50,000 U.S.-based Team Members access to low to no-cost degrees through Strayer University and Capella University. This initiative supports Caesars’ tuition benefit campaign, “All-In On Education,” providing eligible employees with no out-of-pocket costs for Sophia Learning courses. The partnership aims to enhance workforce education and economic mobility. Effective July 6, 2022, Workforce Edge will manage tuition assistance benefits, aiding employees in their educational journey.
Strategic Education, Inc. (NASDAQ: STRA) will hold a conference call on July 27, 2022, at 10:00 a.m. ET to discuss its second quarter results. A news release with the results will be available before the market opens on the same day. Investors can access the live call via a webcast on the company’s Investor Relations page. Interested parties must register in advance to receive dial-in information. Strategic Education provides higher education services primarily to working adult students through institutions like Strayer University and Capella University.
The Center for Social Dynamics (CSD) launched its new Dreams Come TRUE program, offering educational benefits to its 1,300 employees. This initiative includes tuition reimbursement of up to $5,250 per year for accredited programs, alongside 100% upfront funding for select degrees at Strayer University and Capella University. Starting July 1, 2022, eligible employees can access this benefit through the partnership with Workforce Edge. CSD aims to enhance professional development and support those serving the autism community.
Summary not available.
Strategic Education (NASDAQ: STRA) reported its financial results for Q1 2022, highlighting a 10.8% revenue decline to $258.9 million year-over-year. Adjusted net income fell to $13.1 million, down from $37 million in Q1 2021. U.S. Higher Education segment enrollment dropped 12.6%, impacting revenue by 13.6%. However, the Education Technology Services segment saw a 16.4% revenue growth driven by increased subscriptions in Sophia Learning. Strategic Education declared a $0.60 cash dividend per share, aiming to reward shareholders.
Capella University has successfully reaffirmed the accreditation of its Master of Social Work (MSW) program through 2030 by the Council on Social Work Education (CSWE). This recognition extends the program’s initial accreditation awarded in 2018 for four years. Capella emphasizes the importance of its MSW graduates in enhancing community well-being and providing vital services. The program, delivered through GuidedPath learning, focuses on leadership, advanced practitioner skills, and technology in social services. The CSWE represents over 800 accredited social work programs in the U.S.
Strategic Education (NASDAQ: STRA) announced a partnership with Dollar General to enhance employee education through employer-paid degree programs at Strayer and Capella Universities. The initiative, facilitated by Workforce Edge, seeks to streamline access to affordable educational options and provide tuition assistance for full-time employees. Beginning April 4, 2022, employees and their families can also access Sophia Learning's online courses. This collaboration aims to attract and retain talent while offering professional development opportunities, enhancing Dollar General's competitive edge in the workforce.
Strategic Education, Inc. (NASDAQ: STRA) announced a conference call on April 28, 2022, at 10:00 a.m. ET, to discuss its first-quarter results. A news release will precede the call, providing detailed financial information. Investors can join the call by dialing (877) 303-9047 or via webcast on their website. Additionally, the company will hold its 2022 Annual Meeting of Stockholders on April 27, at 8:00 a.m. ET, with voting eligibility for stockholders recorded as of March 1, 2022.
Strategic Education, Inc. (NASDAQ: STRA) announced the publication of its 2021 Annual Report and Shareholder Letter, available on its website. The company is committed to enhancing economic mobility through higher education, primarily serving working adult students. It operates Strayer University and Capella University in the U.S., offering various accredited programs, as well as education technology services that build employer-employee education benefit programs. Additionally, it includes institutions in Australia and New Zealand that provide certificate and degree programs.