LRN - Stride GAAP EPS of $1.19 beats by $0.12 revenue of $458.4M beats by $15.17M

• Stride press release ( NYSE: LRN ): Q2 GAAP EPS of $1.19 beats by $0.12 .
• Revenue of $458.4M (+11.9% Y/Y) beats by $15.17M .
• Ends Quarter with over 180 Thousand Enrollments

• The Company is raising its revenue and adjusted operating forecast and narrowing its capital expenditures forecast for the full year fiscal 2023:

  • Revenue in the range of $1.775 billion to $1.815 billion from prior consensus of $1.71B to $1.79B vs. consensus of $1.74B.
  • Capital expenditures in the range of $70.0 million to $75.0 million. Note that capital expenditures include the purchase of property and equipment, and capitalized software, and curriculum development costs as defined on our Statement of Cash Flows.
  • Effective tax rate of 27% to 29%.
  • Adjusted operating income in the range of $180.0 million to $200.0 million.

  The Company is forecasting the following for the third quarter fiscal year 2023:

  • Revenue in the range of $445.0 million to $465.0 million vs. consensus of $443.23M.
  • Capital expenditures in the range of $16.0 million to $19.0 million. Note that capital expenditures include the purchase of property and equipment, and capitalized software and curriculum development costs as defined on our Statement of Cash Flows.
  • Adjusted operating income in the range of $70.0 million to $80.0 million. (1)

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