- Sunlands Technology Group STG reported a first-quarter FY22 sales decline of 11.7% year-on-year to $96.7 million. EPS for the quarter was $4.28.
- The gross billings for the quarter decreased 34.2% Y/Y to RMB390.6 million ($61.6 million).
- The gross profit for the quarter fell 12.1% to RMB516.6 million ($81.5 million), with a margin of 84.2%.
- New student enrollment dropped 19.5% Y/Y to 117,182.
- The company held $135 million in cash and equivalents as of March 31, 2022.
- Outlook: Sunlands sees Q2 revenue of RMB520 million - RMB540 million, a 14.2% - 17.4% decrease Y/Y.
- Price Action: STG shares are trading flat at $4.73 on the last check Tuesday.
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