LRN - Stride GAAP EPS of $1.30 beats by $0.21 revenue of $470.28M beats by $14.31M

2023-04-25 16:36:52 ET

• Stride press release ( NYSE: LRN ): Q3 GAAP EPS of $1.30 beats by $0.21 .
• Revenue of $470.28M (+11.5% Y/Y) beats by $14.31M .
• Income from operations of $72.2 million, compared with $60.6 million.
• Adjusted operating income of $80.2 million, compared with $69.4 million.
• Adjusted EBITDA of $103.9 million, compared with $90.3 million.
• As of March 31, 2023, the Company’s cash and cash equivalents totaled $373.7 million, compared with $389.4 million reported at June 30, 2022. The decrease is largely the result of normal seasonal trends.
• 2023 Outlook: Revenue in the range of $1.805 billion to $1.825 billion, up from $1.775 billion to $1.815 billion previously.
• Capital expenditures in the range of $65.0 million to $70.0 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 26% to 28%.
• Adjusted operating income in the range of $193.0 million to $200.0 million, from $180.0 million to $200.0 million previously.

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