Strategic Education (STRA) Q2 Earnings and Revenues Surpass Estimates

Group 1: Earnings Performance - Strategic Education (STRA) reported quarterly earnings of $1.33 per share, exceeding the Zacks Consensus Estimate of $1.20 per share, and up from $0.82 per share a year ago, representing an earnings surprise of 10.83% [1] - The company posted revenues of $312.27 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 2.61%, and an increase from $287.68 million year-over-year [2] - Over the last four quarters, Strategic Education has consistently surpassed consensus EPS estimates [2] Group 2: Stock Performance and Outlook - Strategic Education shares have increased approximately 30.8% since the beginning of the year, outperforming the S&P 500's gain of 14% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the upcoming quarter is $1.03 on revenues of $298.61 million, and for the current fiscal year, it is $4.96 on revenues of $1.2 billion [7] Group 3: Industry Context - The Schools industry, to which Strategic Education belongs, is currently ranked in the top 25% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors [5]