Strategic Education ( (STRA) ) has released its Q3 earnings. Here is a breakdown of the information Strategic Education presented to its investors.
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Strategic Education, Inc. is a company focused on enhancing economic mobility through higher education, primarily serving working adults worldwide with its diverse educational programs and institutions. The company recently reported strong third-quarter 2024 financial results, highlighting growth across its segments, including U.S. Higher Education, Education Technology Services, and operations in Australia/New Zealand.
Strategic Education saw a 7% increase in revenue to $306 million, with net income rising to $27.7 million from $18.5 million in the previous year. The company’s U.S. Higher Education segment showed a 4.8% increase in student enrollment, and the Education Technology Services segment experienced significant growth, with Sophia Learning subscriptions increasing by 33%. In the Australia/New Zealand segment, student enrollment grew by 5.1%.
The company reported a rise in income from operations to $36.3 million, up from $25.6 million a year earlier, and an improved adjusted EBITDA of $56.2 million compared to $49.5 million. Strategic Education also declared a quarterly cash dividend of $0.60 per share, reflecting its commitment to returning value to shareholders.
Looking ahead, Strategic Education remains focused on promoting economic mobility for working adults and anticipates continued growth across its segments. The company is well-positioned with its portfolio of flexible and affordable educational programs to address the evolving needs of the workforce.
