Strategic Education Inc Stock Price, News & Analysis

Strategic Education (NASDAQ: STRA) reported financial results for Q3 2022, revealing a 2.6% decline in revenue to $263.1 million compared to Q3 2021. Net income increased to $6.1 million from $3.9 million year-over-year. However, adjusted net income fell to $8.0 million, down from $14.1 million. The U.S. Higher Education segment experienced a 3.1% drop in student enrollment, while the Education Technology Services segment saw a 26.9% revenue increase. The company declared a $0.60 dividend per share payable on December 5, 2022.

Strategic Education, Inc. (NASDAQ: STRA) has partnered with Six Flags Entertainment Corporation to offer over 35,000 employees access to education programs, including tuition discounts at Capella and Strayer Universities and no-cost courses via Sophia Learning. This partnership began on October 3, 2022, emphasizing Six Flags' commitment to employee benefits and education. It positions Six Flags as a market leader in employee support within the entertainment industry. Workforce Edge will facilitate this initiative, helping Six Flags enhance workforce skills and maintain competitive advantage.

Strategic Education, Inc. (NASDAQ: STRA) will hold a conference call on November 3, 2022, at 10:00 a.m. ET, to discuss its third quarter results. A news release with the results will be published before the market opens that day. Investors can join the live webcast via the Investor Relations section of the company's website. The archived webcast will be available for later viewing. Strategic Education focuses on advancing economic mobility through higher education, serving working adults globally.

Strategic Education, Inc. (NASDAQ: STRA) has appointed the Honorable Michael Thawley, former Australian Ambassador to the U.S., to its board of directors. Thawley brings extensive international business experience and aims to enhance the company's strategic growth in Australia and New Zealand. Executive Chairman Robert Silberman expressed confidence that Thawley’s expertise will strengthen partnerships and opportunities in these markets, especially following the acquisition of Torrens University and other institutions. Thawley's previous roles include senior positions at Capital Group, emphasizing his significant background in finance and diplomacy.

Capella University has been redesignated as a National Center of Academic Excellence in Cyber Defense (CAE-CD) through 2027 by the National Security Agency and the Department of Homeland Security. This designation recognizes the university's Information Assurance and Cybersecurity Bachelor of Science in Information Technology program's excellence in preparing students for cybersecurity roles. The program has maintained its CAE status since 2007, highlighting the ongoing commitment to addressing the shortage of cybersecurity professionals.

Strategic Education, Inc. (NASDAQ: STRA) has announced its Devmountain and Hackbright Academy coding programs joining the OneTen coalition, aimed at advancing employment for Black individuals without four-year degrees. The partnership focuses on skills-first hiring, targeting to help one million Black Americans secure family-sustaining jobs over the next decade. The coding programs will provide training and connect graduates with employers seeking diverse tech talent, demonstrating a commitment to enhance economic mobility and diversity in the tech industry.

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.