Stride Posts $64.9M Net Income in Fiscal Q1
LRN sits 30% above its 52-week low of $60.615.
Summary
Stride reported first-quarter net income of $64.9 million, alongside revenue of $639.4 million and diluted EPS of $1.45, with adjusted EPS of $1.37. That compares against a full prior fiscal year that produced $2.52 billion in revenue and $7.14 diluted EPS, so this is the first read on whether the new CEO setup is holding the earnings base. The quarter also showed enrollments down 2.5% and revenue per enrollment up 7.0%. Robert Knowling took over as CEO in late July and the company settled a Fivespan activist campaign on October 9 with two new directors and a Capital Allocation Committee, so this is the first print under both. For the second quarter, Stride sees revenue of $625 million to $645 million, and for the full year it sees revenue of $2.53 billion to $2.61 billion and capital expenditures of $70 million to $80 million.
At the time of this announcement, LRN was trading at $78.60 on NYSE in the Trade & Services sector, with a market capitalization of approximately $3.3B. The 52-week trading range was $60.61 to $155.06. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.