K12 INC (LRN)
EARNINGS RELEASE - AUGUST 11 (AMC)
THIS QTR: EPS: .03/share REV: 261.4/M
LAST QTR: EPS: .19/share ACTUAL: .22/share (BEAT)
NEXT QTR: EPS: -.24/share REV: 214.58/M
FULL YR: EPS: .52/share REV: 1,030/M
BEAT/MISS RECORD: 63% OF THE TIME THEY BEAT ESTIMATES
PRIOR ‘JUMP ZONE’ MOVES (LAST 3 QTRS %) -13.73, -16.85, -23.97
EXPECTED JUMP MOVE THIS QUARTER: 15%
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Links To Latest News and Headlines
Shares of K12 were advancing 10.5% in pre-market trading today as the online education services provider beat analysts’ expectations for the first quarter of fiscal 2021, ended Sept. 30.K12’s (LRN) 1Q FY21 revenue increased 44.3% year-over-year to $371 million, surpassing analysts’ forecast of $362.6 million. The top-line benefited from a 57% rise in enrolment to over 195,000 as the demand for online learning has surged since the COVID-19 outbreak. Yesterday, K12’s rival Chegg (CHGG) reported revenue of $154 million, reflecting Y/Y growth of 64% for the third quarter ended Sept. 30.Meanwhile, K12’s adjusted EBITDA jumped significantly to $39.2 million in 1Q FY21 from $3.3 million in 1Q FY20. Strong revenue growth and improved operating leverage helped the company in delivering EPS of $0.30 in 1Q FY21 compared to a net loss per share of $0.25 in 1Q FY20. Analysts were expecting a loss per share of $0.32.Based on strong demand, the company expects 2Q FY21 revenue between $358 million to $366 million and FY21 revenue between $1.445 billion and $1.470 billion.Last month, William Blair analyst Stephen Sheldon reiterated a Buy rating for K12 and stated that the selloff in K12 shares following the loss of the Miami-Dade institutional business contract was overblown. He feels that the announcement is a “small incremental negative to the story,” but not one that justifies the extent of the decline in the shares following the news.Sheldon also noted that the Miami-Dade contract has nothing to do with K12's core business and that the $15 million transaction would only have accounted for about 1% of current forward revenue estimates. Moreover, there were also meaningful costs in the first year that could limit profitability, said the analyst. (See LRN stock analysis on TipRanks)Overall, the Street has a Strong Buy consensus for K12 based on 4 unanimous Buys. Shares have risen 39% so far this year and the average analyst price target of $55 indicates significant upside potential of 95% for the months ahead.Related News: Chegg Sinks 5% After-Hours Despite Stellar 3Q Earnings F5 Networks’ 1Q Outlook Beats The Street; Shares Gain 4.3% SAP Slashes 2020 Guidance As Covid-19 Surge Slows Recovery More recent articles from Smarter Analyst: * J.M. Smucker Inks $550M Deal With B&G; Foods To Divest Crisco Business * Crane Posts 3Q Profit Win; Street See 31% Upside * AMD Seals $35B Deal To Buy Chip Rival Xilinx; Shares Drop * Moelis Hikes Quarterly Dividend By 50%; Shares Rise In Pre-Market
Further information concerning risks and uncertainties that could materially affect financial and operational performance and results, please refer to our reports filed with the SEC. In addition to disclosing financial results in accordance with Generally Accepted Accounting Principles in the US or GAAP, we will discuss certain information that is considered non-GAAP financial information. A reconciliation of this non-GAAP financial information to the most closely comparable GAAP information is included in our earnings release and is also posted on our website.
K12 (LRN) delivered earnings and revenue surprises of 188.24% and 1.64%, respectively, for the quarter ended September 2020. Do the numbers hold clues to what lies ahead for the stock?
The two online-education companies' results topped Wall Street expectations Monday, showing growth as distance-learning initiatives have endured in many places for more than half a year, but their after-hours share performance diverged.
Shares of K12 (NYSE:LRN) moved higher by 10.5% in after-market trading after the company reported Q1 results.Quarterly Results Earnings per share were up 220.00% year over year to $0.30, which beat the estimate of ($0.31).Revenue of $370,960,000 higher by 44.27% year over year, which beat the estimate of $362,520,000.Looking Ahead Earnings guidance hasn't been issued by the company for now.Revenue guidance hasn't been issued by the company for now.How To Listen To The Conference Call Date: Oct 26, 2020View more earnings on LRNTime: 05:00 PMET Webcast URL: https://event.on24.com/eventRegistration/EventLobbyServlet?target=reg20.jsp&referrer=https%3A%2F%2Fpro.benzinga.com%2F&eventid=2709958&sessionid=1&key=5FF36D23A41009F92F6042C4EA5C19B6®Tag=&sourcepage=registerPrice Action 52-week high: $52.8452-week low: $15.06Price action over last quarter: down 30.99%Company Overview K12 Inc is an American online educational company. The company offers alternative programs to traditional on-campus schooling. K12 also operates state-funded virtual charter schools around the United States. The educational programs for K-12 students are usually monitored by parents and provide virtual classroom environments where teachers meet with students online, by phone, or in-person. The company's contractual agreements with various school districts to offer its curriculum programs provide a majority of the company's revenue. The company lines of business are Managed Public School Programs, Institutional, and Private Pay Schools and Other.See more from Benzinga * Click here for options trades from Benzinga * Earnings Scheduled For October 26, 2020(C) 2020 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
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