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Mar 31, 2024
Grand Canyon Education Q1 2024 Earnings Report
Grand Canyon Education's first quarter results for 2024 were reported, highlighted by revenue growth and increased partner enrollments.
Key Takeaways
Grand Canyon Education reported a strong first quarter in 2024, with service revenue increasing by 9.8% to $274.7 million and net income rising by 14.2% to $68.0 million. Partner enrollments grew to 120,788, and the company's operating margin improved to 30.8%. The diluted earnings per share increased to $2.29, reflecting solid financial performance.
Service revenue increased by 9.8% year-over-year, reaching $274.7 million.
Partner enrollments rose to 120,788, driven by growth in GCU online enrollments.
Operating income increased to $84.5 million, with an improved operating margin of 30.8%.
Net income grew to $68.0 million, and diluted earnings per share reached $2.29.
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 outlook for Q2, Q3, Q4 and Full Year 2024.