Strategic Education, Inc. Reports Earnings Results for the Third Quarter and Nine Months Ended September 30, 2023
November 02, 2023 at 06:30 am EDT
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Strategic Education, Inc. reported earnings results for the third quarter and nine months ended September 30, 2023. For the third quarter, the company reported sales was USD 285.94 million compared to USD 263.12 million a year ago. Net income was USD 18.46 million compared to USD 6.09 million a year ago. Basic earnings per share from continuing operations was USD 0.79 compared to USD 0.26 a year ago. Diluted earnings per share from continuing operations was USD 0.77 compared to USD 0.25 a year ago.
For the nine months, sales was USD 830.22 million compared to USD 795.54 million a year ago. Net income was USD 30.66 million compared to USD 28.34 million a year ago. Basic earnings per share from continuing operations was USD 1.31 compared to USD 1.19 a year ago. Diluted earnings per share from continuing operations was USD 1.28 compared to USD 1.18 a year ago.
Strategic Education, Inc. is an education services company. It provides access to education through campus-based and online post-secondary education offerings, as well as through programs to develop job-ready skills. It operates through its subsidiaries Capella University and Strayer University, both accredited post-secondary institutions of higher education located in the United States, and Torrens University, an accredited post-secondary institution of higher education located in Australia. Its segments include U.S. Higher Education (USHE), Australia/New Zealand, and Education Technology Services. The USHE segment provides certificate and degree programs to working adults, primarily through Capella University and Strayer University. The Education Technology Services segment develops and maintains relationships with employers to build employee education benefits programs. The Australia/New Zealand segment includes Torrens University, Think Education, and Media Design School.