Strategic Education, Inc. - STRA STOCK NEWS

Strategic Education, Inc. (NASDAQ: STRA) has appointed the Honorable Michael Thawley, former Australian Ambassador to the U.S., to its board of directors. Thawley brings extensive international business experience and aims to enhance the company's strategic growth in Australia and New Zealand. Executive Chairman Robert Silberman expressed confidence that Thawley’s expertise will strengthen partnerships and opportunities in these markets, especially following the acquisition of Torrens University and other institutions. Thawley's previous roles include senior positions at Capital Group, emphasizing his significant background in finance and diplomacy.

Capella University has been redesignated as a National Center of Academic Excellence in Cyber Defense (CAE-CD) through 2027 by the National Security Agency and the Department of Homeland Security. This designation recognizes the university's Information Assurance and Cybersecurity Bachelor of Science in Information Technology program's excellence in preparing students for cybersecurity roles. The program has maintained its CAE status since 2007, highlighting the ongoing commitment to addressing the shortage of cybersecurity professionals.

Strategic Education, Inc. (NASDAQ: STRA) has announced its Devmountain and Hackbright Academy coding programs joining the OneTen coalition, aimed at advancing employment for Black individuals without four-year degrees. The partnership focuses on skills-first hiring, targeting to help one million Black Americans secure family-sustaining jobs over the next decade. The coding programs will provide training and connect graduates with employers seeking diverse tech talent, demonstrating a commitment to enhance economic mobility and diversity in the tech industry.

Strategic Education (NASDAQ: STRA) reported a 8.6% revenue decline to $273.6 million for Q2 2022, compared to $299.2 million in Q2 2021. Adjusted net income fell to $20.5 million from $37.8 million year-over-year, while diluted EPS decreased to $0.63 from $0.83. The U.S. Higher Education segment noted an 8.6% drop in student enrollment. However, Education Technology Services saw a revenue increase of 23.9% to $16 million. The company remains optimistic about growth in Australia/New Zealand once immigration barriers are resolved. A quarterly cash dividend of $0.60 per share was declared.

Workforce Edge has partnered with Caesars Entertainment to offer nearly 50,000 U.S.-based Team Members access to low to no-cost degrees through Strayer University and Capella University. This initiative supports Caesars’ tuition benefit campaign, “All-In On Education,” providing eligible employees with no out-of-pocket costs for Sophia Learning courses. The partnership aims to enhance workforce education and economic mobility. Effective July 6, 2022, Workforce Edge will manage tuition assistance benefits, aiding employees in their educational journey.

Strategic Education, Inc. (NASDAQ: STRA) will hold a conference call on July 27, 2022, at 10:00 a.m. ET to discuss its second quarter results. A news release with the results will be available before the market opens on the same day. Investors can access the live call via a webcast on the company’s Investor Relations page. Interested parties must register in advance to receive dial-in information. Strategic Education provides higher education services primarily to working adult students through institutions like Strayer University and Capella University.

The Center for Social Dynamics (CSD) launched its new Dreams Come TRUE program, offering educational benefits to its 1,300 employees. This initiative includes tuition reimbursement of up to $5,250 per year for accredited programs, alongside 100% upfront funding for select degrees at Strayer University and Capella University. Starting July 1, 2022, eligible employees can access this benefit through the partnership with Workforce Edge. CSD aims to enhance professional development and support those serving the autism community.