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Mar 31, 2021
Grand Canyon Education Q1 2021 Earnings Report
Grand Canyon Education's first quarter results for 2021 were reported.
Key Takeaways
Grand Canyon Education reported a strong first quarter in 2021, with service revenue increasing to $236.9 million and net income rising to $78.1 million. Partner enrollments grew by 7.2%, reflecting continued demand for GCE's services. The company is optimistic about its future prospects and has provided a positive outlook for the remainder of the year.
Service revenue increased by 6.9% year over year to $236.9 million, driven by a 7.2% increase in university partner enrollments.
Partner enrollments reached 115,390, with Grand Canyon University enrollments growing by 7.2% and other university partner enrollments increasing by 8.4%.
Operating income rose to $84.2 million, with an operating margin of 35.5%.
Net income increased by 9.4% to $78.1 million, with diluted net income per share at $1.69.
Grand Canyon Education
Grand Canyon Education
Grand Canyon Education Revenue by Segment
Revenue by Segment
Service Revenue
CapyFin.com Forward Guidance
Grand Canyon Education provided its outlook for the second, third, and fourth quarters of 2021, as well as the full year.
Positive Outlook
- Q2 2021: Service revenue of $202.0 million
- Q2 2021: As Adjusted Operating Margin 25.6%
- Q2 2021: As Adjusted Diluted EPS of $1.09 using 45.8 million diluted shares
- Full Year 2021: Service revenue of $919.9 million
- Full Year 2021: As Adjusted Diluted EPS of $6.19 using 45.6 million diluted shares