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Mar 31, 2022
Grand Canyon Education Q1 2022 Earnings Report
Grand Canyon Education's financial performance decreased in Q1 2022 due to a decline in operating income and net income.
Key Takeaways
Grand Canyon Education, Inc. reported financial results for the quarter ended March 31, 2022, with service revenue increasing by 3.0% year-over-year to $244.1 million, driven by higher revenue per student, but offset by a 4.5% decrease in university partner enrollments. Net income decreased by 25.6% to $58.1 million, and diluted net income per share was $1.66 compared to $1.69 in the same period of 2021.
Service revenue increased by 3.0% to $244.1 million due to higher revenue per student, but was partially offset by a decrease in university partner enrollments.
Partner enrollments totaled 110,217, a decrease compared to 115,390 in the prior year.
Operating income decreased to $77.5 million, with an operating margin of 31.7%.
Net income decreased 25.6% to $58.1 million, with diluted net income per share at $1.66.
Revenue by Segment
Forward Guidance
Grand Canyon Education provided outlook for Q2 2022, Q3 2022, Q4 2022 and Full Year 2022.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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