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Strategic Education (STRA) Q4 FY2023 earnings: revenue $303 million, up 12.1% on the year

Strategic Education, Inc. (STRA) reported revenue of $303 million for Q4 FY2023, the quarter ended 31 December 2023, up 12.1% on the same quarter a year earlier. Net income was $39 million, up 113.5% on the year, and diluted earnings per share $1.63. The figures are the company's own, from the 10-K it filed with the SEC on 29 February 2024.

Revenue$303 millionup 12.1%
Net income$39 millionup 113.5%
Diluted EPS$1.63
QuarterQ4 FY2023ended 31 December 2023

The quarter, against the one before and a year earlier

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Revenue303286n/an/a
Operating income54.225.6n/an/a
Operating margin17.9%9.0%n/a
Pre-tax income55.226.5n/an/a
Income tax16.18.0n/an/a
Effective tax rate29.1%30.3%n/a
Net income39.118.5n/an/a
Net margin12.9%6.5%n/a
Diluted EPS$1.63$0.77n/an/a
$ million except per share.
Read moreFourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Operating cash flow29.946.4n/an/a
Capital expenditure9.69.5n/an/a
Free cash flow20.336.9n/an/a
Free cash flow margin6.7%12.9%n/a
Cash from investing-18.1-6.7n/an/a
Cash from financing-14.5-54.6n/an/a
Depreciation and amortisation12.414.7n/an/a
Share-based compensation4.64.1n/an/a
Buybacks0.00.0n/an/a
Dividends paid14.614.7n/an/a
Dividend per share$0.60$0.60n/an/a
Diluted shares, weighted24m24mn/an/a
Shares outstanding at period end24m24mn/an/a

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

LineQ4 FY2023Q3 FY2023A year earlierChange on the year
Shareholders' equity1,6531,595n/an/a
Debt61.461.2n/an/a
Operating lease liabilities128121n/an/a
Other liabilities284337n/an/a
Total liabilities and equity2,1252,114n/an/a
Fixed assets119118n/an/a
Goodwill1,2521,228n/an/a
Intangible assets252250n/an/a
Investments40.230.9n/an/a
Cash and equivalents168168n/an/a
Receivables76.197.4n/an/a
Other assets218222n/an/a
Total assets2,1252,114n/an/a

Questions

What was Strategic Education's revenue in Q4 FY2023?

Strategic Education (STRA) reported revenue of $303 million for Q4 FY2023, the quarter ended 31 December 2023, up 12.1% on the same quarter a year earlier.

How much did Strategic Education earn in Q4 FY2023?

Net income for Q4 FY2023 was $39 million, up 113.5% on the year, and diluted earnings per share $1.63.

When did Strategic Education report Q4 FY2023 results?

Strategic Education filed its 10-K for the year that ended with the quarter on 29 February 2024; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

Q3 FY2023Q4 FY2023 *Q1 FY2024Q2 FY2024Q3 FY2024Q4 FY2024 *Q1 FY2025Q2 FY2025Q3 FY2025Q4 FY2025 *Q1 FY2026Q2 FY2026
Revenue286303290312306311304321320323306337
Operating income25.654.241.441.936.336.039.845.837.051.641.150.5
Operating margin9%18%14%13%12%12%13%14%12%16%13%15%
Pre-tax income26.555.243.141.838.637.942.045.436.853.242.351.8
Tax rate30%29%31%28%28%33%29%29%28%29%22%28%
Net income18.539.129.729.927.725.329.732.326.637.932.837.2
Net margin6%13%10%10%9%8%10%10%8%12%11%11%
Diluted EPS$0.77$1.63$1.23$1.24$1.15$1.05$1.24$1.37$1.15$1.66$1.48$1.71
Operating cash flow46.429.977.624.351.515.967.731.260.139.287.429.2
Capital expenditure9.59.69.210.79.411.210.310.810.912.210.114.1
Free cash flow36.920.368.413.642.14.757.320.449.327.077.315.0
Buybacks0.00.00.00.05.06.532.028.034.344.640.032.8
Dividends paid14.714.614.714.814.814.714.814.414.214.213.613.3
Shares outstanding24m24m25m25m25m25m24m24m24m23m23m22m
Filing10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q10-Q10-K10-Q10-Q
Each quarter as filed, linked to its filing.
Read more* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 31 December 2023, filed 29 February 2024, accession 0001013934-24-000004: the filing on EDGAR. All of Strategic Education, Inc.'s filings: EDGAR company page.

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