NASDAQ$STRA

Strategic Education Inc · Q4 2019 earnings

Q4 2019 earnings · · Investor relations

Briefing

Strategic Education's Q4 2019 results reflected strong performance at Strayer and Capella Universities.

Strategic Education, Inc. reported a revenue increase of 9.0% to $263.8 million and net income of $28.5 million for the fourth quarter of 2019, marking a record year since the merger with Capella Education Company.

  • Revenue increased by 9.0% to $263.8 million compared to Q4 2018.
  • Income from operations was $37.2 million, representing 14.1% of revenue.
  • Diluted earnings per share reached $1.29, up from $1.02 in the same period of 2018.
  • Strayer University's student enrollment increased by 10%, while Capella University's student enrollment increased by 2%.

Headline financials

Total Revenue

$264M

Previous: $242M+9.0%
EPS (adj)

$2.13

Previous: $1.56+36.5%
Bad Debt % of Revenue

5.0%

Previous: 6.1%-18.0%
Capital Expenditures

$10.9M

Previous: $11.5M-5.2%
Free Cash Flow

$49.8M

Previous: $50M-0.4%
Net Income

$28.5M

Previous: $22.5M+27.1%
Operating Income

$37.2M

Previous: $18.9M+97.2%
Gross Profit

$130M

Previous: $124M+5.4%
Cash & Equivalents

$420M

Previous: $312M+34.6%
Total Assets

$1.79B

Previous: $1.66B+7.7%
Stock-Based Comp

$3.09M

Previous: $3.75M-17.8%

Revenue & EPS history

Strategic Education · Revenue · Quarterly

$264M

Q4 2019+9%vs Q4 2018
Beat estimate in 11 of 16 quarters(69%)
ActualEstimate

Revenue by segment

Strategic Education · $223M total across 2 segments · Q3 2023

  • U.S. Higher Education
    $202M+8.8%
  • Education Technology Services
    $20.8M+26.7%

Forward guidance

Strategic Education is planning to open four to six additional campuses for Strayer University and four to six additional Campus Centers for Capella University in 2020, pending regulatory approval. Capital expenditures for 2020 are expected to be between $40 million and $45 million.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q4 2019

Historical avgQ4 2019

+0.7%

Avg return

Earnings day

+0.7%

Avg return

5 days after

+2.6%

Avg return

30 days after

54%

37 / 68 earnings

Positive

+38.1%

Q4 2013

Best reaction

-23.2%

Q3 2013

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-13.7%-7.0%-6.1%
Q4 2025+4.8%+4.1%+3.9%
Q3 2025+0.9%+7.4%+7.2%
Q1 2025-0.2%+2.5%+9.1%
Q4 2024-18.5%-16.9%-12.5%
Q3 2024+3.6%+1.6%+1.8%
Q2 2024-19.8%-22.0%-20.1%
Q1 2024+20.3%+14.1%+14.1%
Q4 2023+14.3%+11.2%+9.5%
Q3 2023+5.1%+6.5%+8.4%
Q2 2023+7.7%+7.6%+12.3%
Q1 2023-4.8%-10.6%-14.1%
Q4 2022-8.4%-7.4%-7.0%
Q3 2022+11.9%+17.1%+20.5%
Q2 2022+4.8%+3.1%-3.2%
Q1 2022-7.6%-7.2%-4.2%
Q4 2021+17.9%+20.8%+34.8%
Q3 2021-8.2%-11.9%-23.0%
Q2 2021+11.1%+9.3%+6.4%
Q1 2021-9.3%-6.3%-14.4%
Q4 2020-4.4%-12.6%+2.9%
Q3 2020-12.5%-10.0%-6.8%
Q2 2020-17.9%-26.4%-36.6%
Q1 2020+6.1%-0.5%+13.0%
Q4 2019+2.0%+6.2%-13.6%
Q3 2019+9.7%+13.3%+19.4%
Q2 2019-2.8%-8.1%-7.0%
Q1 2019+13.4%+16.5%+22.8%
Q4 2018+8.7%+6.5%+0.4%
Q3 2018+4.5%+6.2%-10.9%
Q2 2018+7.3%+4.5%+17.8%
Q1 2018+3.6%+0.9%+5.6%
Q4 2017+0.0%+8.4%+12.7%
Q3 2017+2.2%+2.4%+7.5%
Q2 2017-12.0%-12.4%-11.6%
Q1 2017+5.0%+5.5%+2.8%
Q4 2016-3.6%-6.1%-1.8%
Q3 2016+23.8%+24.6%+58.4%
Q2 2016-8.1%-5.9%+1.6%
Q1 2016-8.7%
Q4 2015-16.7%
Q3 2015-8.9%
Q2 2015+33.7%
Q1 2015-2.1%
Q4 2014-10.4%
Q3 2014+9.8%
Q2 2014+9.3%
Q1 2014+20.7%
Q4 2013+38.1%
Q3 2013-23.2%
Q2 2013-10.5%
Q1 2013-6.0%
Q4 2012-18.8%
Q3 2012-17.2%
Q2 2012-0.5%
Q1 2012-0.2%
Q4 2010+0.9%
Q4 2011+0.9%
Q3 2011+1.2%
Q2 2011-3.9%
Q1 2010-1.6%
Q1 2011+0.9%
Q4 2008-0.9%
Q3 2010+9.1%
Q3 2009+9.1%
Q2 2009+1.8%
Q4 2009+1.8%
Q2 2010+1.8%

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