EDU: K-12 Performed Well In FY3Q20; But In FY4Q20 & Onward Overseas Testing and Consulting Are Impacted By Outbreaks Worldwide; Adjusting Estimates Accordingly
EDU will report FY3Q20 results on April 21st before the markets open with an 8am EST conference call. We believe FY3Q20 is likely to be better than consensus and our model. But in 4Q20 and over the next several quarters, although we expect K-12 to continue to do well, EDU’s overseas testing preparation business is likely to be impacted by both domestic and international outbreaks as international travel is almost frozen. We believe such impacts have not been fully baked in yet and this part of revenue may decline Y/Y in FY4Q20.
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