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Strategic Education +8.4% post Q3 results

Nov. 08, 2018 11:20 AM ETStrategic Education, Inc. (STRA) StockBy: Pranav Ghumatkar, SA News Editor1 Comment
  • Strategic Education (NASDAQ:STRA +8.4%) reports Q3 revenue growth of 48.3% Y/Y to $160.95M.
  • The adjusted operating income margin was 11.8% compared to 5.6% for the same period in 2017.
  • Strayer University: Revenue +6.7% Y/Y to $114.5M; Student enrollment +9%  Y/Y to 45,431; New student enrollment +11.9% Y/Y  and continuing student enrollment +8.3% Y/Y.
  • Capella University: Revenue was $43.8M; Student enrollment +1.6% Y/Y to 37,822; New student enrollment +13.2% Y/Y and continuing student enrollment -0.8% Y/Y.
  • Cash, equivalents, and marketable securities was $347.8M with no debt.
  • CFO was $14.6M, decrease was primarily due to cash payments of costs related to the merger with Capella Education Company.
  • The Company had $70M of share repurchase authorization remaining but no shares were repurchased in Q3.
  • Consolidated bad debt expense as a percentage of revenue was 6.1%.
  • 2018 Outlook: Capex ~$25-26M.
  • Previously: Strategic Education beats by $0.21, misses on revenue (Nov. 08 2018)
  • Previously: Strategic Education declares $0.50 dividend (Nov. 08 2018)

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