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Grand Canyon Education
🇺🇸 NASDAQ:LOPE
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Jun 30, 2022

Grand Canyon Education Q2 2022 Earnings Report

Second quarter results decreased due to decline in online enrollments at GCU and OTA program enrollment, partially offset by increases in GCU traditional campus enrollments and ABSN program enrollment.

Key Takeaways

Grand Canyon Education, Inc. reported financial results for the quarter ended June 30, 2022. Service revenue was $199.8 million, a decrease of 0.9% compared to the second quarter of 2021. Net income decreased 48.3% to $25.6 million, compared to $49.5 million for the same period in 2021.

Service revenue was $199.8 million for the second quarter of 2022, a decrease of $1.7 million, or 0.9%, as compared to $201.5 million for the second quarter of 2021.

Partner enrollments totaled 96,029 at June 30, 2022 as compared to 101,808 at June 30, 2021.

Operating income for the three months ended June 30, 2022 was $33.8 million, a decrease of $16.4 million as compared to $50.2 million for the same period in 2021.

Net income decreased 48.3% to $25.6 million for the second quarter of 2022, compared to $49.5 million for the same period in 2021.

Total Revenue
$200M
Previous year: $201M
-0.9%
EPS
$0.85
Previous year: $1.12
-24.1%
Partner Enrollments
96.03K
Previous year: 101.81K
-5.7%
Gross Profit
$95.5M
Previous year: $107M
-10.6%
Cash and Equivalents
$139M
Previous year: $69.4M
+100.7%
Total Assets
$787M
Previous year: $1.85B
-57.4%

Grand Canyon Education

Grand Canyon Education

Grand Canyon Education Revenue by Segment

Forward Guidance

Grand Canyon Education provided the following outlook for 2022: Q3 2022: Service revenue of between $207.3 million and $209.3 million; As Adjusted Operating Margin of between 16.1% and 16.3%; Effective tax rate of 18.4%; As Adjusted Diluted EPS of between $0.86 and $0.88 using 31.6 million diluted shares. Q4 2022: Service revenue of between $252.0 million and $256.0 million; As Adjusted Operating Margin of between 34.7% and 34.8%; Effective tax rate of 22.9%; As Adjusted Diluted EPS of between $2.14 and $2.18 using 31.5 million diluted shares. Full Year 2022: Service revenue of between $903.2 million and $909.2 million; As Adjusted Operating Margin of between 26.2% and 26.3%; Effective tax rate of 23.4%; As Adjusted Diluted EPS of between $5.60 and $5.66 using 32.5 million diluted shares

Positive Outlook

  • Service revenue of between $207.3 million and $209.3 million in Q3 2022
  • As Adjusted Operating Margin of between 16.1% and 16.3% in Q3 2022
  • Effective tax rate of 18.4% in Q3 2022
  • As Adjusted Diluted EPS of between $0.86 and $0.88 using 31.6 million diluted shares in Q3 2022
  • Full Year 2022 As Adjusted Diluted EPS of between $5.60 and $5.66 using 32.5 million diluted shares

Company Overview

Full financial data and analysis

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