Strategic Education, Inc. (STRA) Earnings
Strategic Education, Inc. is expected to report next earnings on July 29, 2026 (in NaN days), with a consensus EPS estimate of $1.79. STRA has beaten EPS estimates in 10 of its last 12 reported quarters (average surprise +13.8% over the last four).
| Report date | EPS est | EPS actual | Surprise | Revenue | Rev. surprise |
|---|---|---|---|---|---|
| Apr 23, 2026 | $1.51 | $1.42 | -6.0% | $306M | -1.2% |
| Nov 6, 2025 | $1.30 | $1.63 | +25.4% | $320M | -0.7% |
| Jul 30, 2025 | $1.42 | $1.52 | +7.0% | $321M | +1.9% |
| Apr 24, 2025 | $1.01 | $1.30 | +28.7% | $304M | -6.0% |
| Feb 27, 2025 | $1.37 | $1.27 | -7.3% | $311M | -1.2% |
| Nov 7, 2024 | $0.80 | $1.16 | +45.0% | $306M | -2.9% |
| Jul 31, 2024 | $1.19 | $1.33 | +11.8% | $312M | +1.3% |
| Apr 25, 2024 | $0.59 | $1.11 | +88.1% | $290M | +6.1% |
| Feb 29, 2024 | $1.34 | $1.68 | +25.4% | $303M | +1.8% |
| Nov 2, 2023 | $0.81 | $0.97 | +19.8% | $286M | +1.9% |
| Jul 27, 2023 | $0.66 | $0.82 | +24.2% | $288M | +2.8% |
| Apr 27, 2023 | $0.22 | $0.24 | +9.1% | $257M | -1.1% |
Source: company filings + earnings calendar. For informational purposes only — not investment advice.
Earnings call summary
Q1 FY2026 · April 23, 2026
AI summary of management’s prepared remarks and analyst Q&A. For informational purposes only — not investment advice.
Management highlights
First quarter results reflect progress across three strategic objectives. SEI revenue declined 1% YOY due to slight enrollment decrease, expecting Q1 to be the low point. Productivity initiatives drove 2% adjusted operating expenses reduction, 3% operating income growth, margin 14.3%, and adjusted EPS $1.41. Education technology services revenue grew 21% to $42M, ETS operating income grew 42% to $20M. U.S. higher education employer-affiliated enrollment up 10%, revenue down 4% due to unaffiliated decline and discounts. Australia and New Zealand total enrollment down 3%, A&Z revenue down 4% on constant currency, operating loss $2.4M. Capital allocation: repurchased ~493,000 shares for $40M, ~$200M remaining on share repurchase authorization.
Guidance
Expect Q1 to be low point in revenue and growth. Confident on notional plan from EBIT and EPS standpoint. AI and productivity enablements expected to have bigger impact, leading to 200 basis points adjusted operating margin improvement. Expect relatively stable revenue per student for full year in U.S. higher education, first quarter lower due to scholarships, discounts, and class mix.
Segment performance
Education technology services grew revenue 21% to $42 million, with ETS operating income growing 42% to $20 million and a 47% margin, representing 46% of consolidated operating income. U.S. higher education revenue declined 4%, with employer-affiliated enrollment up 10% to 34.5% of total, healthcare enrollment over half, operating expenses down 2%, and operating income $26 million with a 12% margin. Australia and New Zealand total enrollment declined 3%, A&Z revenue down 4% on constant currency, and operating loss $2.4 million.
Risks & headwinds
Regulatory constraints on international enrollment in Australia and New Zealand, including slower visa approvals. Uncertainties around graduate and professional loan limits changes and their potential impact on student demand.
Analyst Q&A
Q: Jeff Silber asks about timing to get back to notional plan,
A: Carl responds on enrollment trends improving, confident on EBIT and EPS.
Q: Jeff asks about grad loan limits impact,
A: Carl says no major demand issues seen.
Q: Alex Parrish asks about notional plan details,
A: Carl talks about AI impact, enrollment mix in U.S. higher education.
Q: Alex asks about ANZ segment enrollment growth,
A: Carl mentions visa approval friction impacting total enrollment growth but new student growth expected.
Q: Jasper Bibb asks about Capella and Strayer margins,
A: Dan says Capella margin higher, Strayer margin to improve but not reach Capella's.
Q: Jasper asks about revenue per student in U.S. for balance of year,
A: Dan says relatively stable, first quarter anomaly due to prior quarter's scholarship decline.
Q: Jasper asks about education technology segments' growth,
A: Carl talks about Sophia moderation and Workforce Edge pipeline.