Strategic Education Q2 revenue rises 5.2% to $287.7 million; diluted EPS falls to $0.59
Strategic Education reported second quarter 2023 results, with revenue up 5.2% to $287.7 million, but GAAP diluted earnings per share fell to $0.59 from $0.63 and operating income dropped to $16.8 million from $21.9 million. Adjusted diluted EPS, a non-GAAP measure, also declined to $0.82 from $0.85, and the company declared a $0.60 quarterly dividend.
- Revenue rose 5.2% to $287.7 million, against $273.6 million in the second quarter of 2022.
- GAAP diluted EPS was $0.59, down from $0.63; net income was $14.2 million, down from $15.2 million.
- Income from operations was $16.8 million, or 5.8% of revenue, compared with $21.9 million, or 8.0%, a year earlier.
- A regular quarterly cash dividend of $0.60 per share is payable September 11, 2023, to holders of record as of September 1, 2023.