Strayer Education (STRA) Tops Q1 EPS by 20c, Miss on Revenues
Get Alerts STRA Hot Sheet
Revenue Growth %: +7.9%
Financial Fact:
General and administration: 10.95M
Today's EPS Names:
MAXN, CSTR, ACU, More
Join SI Premium – FREE
Strayer Education (NASDAQ: STRA) reported Q1 EPS of $1.15, $0.20 better than the analyst estimate of $0.95. Revenue for the quarter came in at $114.9 million versus the consensus estimate of $116.44 million.
Q2 Enrollment Outlook
Total enrollments at Strayer University for the second quarter 2017 are anticipated to grow 6% to approximately 43,400 students from 41,029 students in the same period in 2016. New student enrollments are expected to increase approximately 8%, while continuing student enrollments are expected to increase approximately 5%. We anticipate revenue per student for the second quarter to decrease between 1% and 2%.
- Highlights for Three Months Ended March 31
- Student enrollment at the Company’s main operating unit, Strayer University, increased 6% during the three months ended March 31, 2017, to 43,387, compared to 40,872 for the same period in 2016. New student enrollment for the period increased 8% and continuing student enrollment increased 6%.
- Revenues increased 3% to $114.9 million, compared to $111.2 million for the same period in 2016, principally due to the higher enrollment, partially offset by lower revenue per student.
- Income from operations was $18.4 million, compared to $20.1 million for the same period in 2016, a decrease of 8%. Excluding nonrecurring noncash adjustments, income from operations was $18.5 million for the three months ended March 31, 2016. Operating margin was 16.0% for the first quarter of 2017, compared to 18.1% for the same period in 2016, or 16.6% in 2016 excluding the nonrecurring noncash adjustments.
- Net income was $10.6 million, compared to $12.4 million for the same period in 2016, a decrease of 15%. Excluding the nonrecurring noncash adjustments, net income was $11.4 million for the three months ended March 31, 2016.
- Diluted earnings per share was $0.95, compared to $1.15 for the same period in 2016, a decrease of 17%. Excluding noncash adjustments, earnings per share was $1.06 for the three months ended March 31, 2016. Diluted weighted average shares outstanding increased to 11,121,000 from 10,782,000 for the same period in 2016.
For earnings history and earnings-related data on Strayer Education (STRA) click here.
Serious News for Serious Traders! Try StreetInsider.com Premium Free!
You May Also Be Interested In
- Truist Upgrades Strategic Education (STRA) to Buy, 'USHE Enrollment Growth To Unlock Significant Margin Leverage'
- PPG Industries (PPG) Reports In-Line Q1 EPS, offers outlook
- Wipro (WIT) Tops Q1 EPS by 1c
Create E-mail Alert Related Categories
Earnings, GuidanceRelated Entities
EarningsSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!