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Sep 30, 2020
Grand Canyon Education Q3 2020 Earnings Report
Reported a decrease in operating income due to the impacts of COVID-19 and an increase in university partners.
Key Takeaways
Grand Canyon Education reported a 2.6% increase in service revenue, driven by enrollment growth, but operating income decreased due to COVID-19 impacts and increased university partners.
Service revenue increased by 2.6% to $198.4 million compared to Q3 2019.
Partner enrollments grew by 8.2%, totaling 117,772.
Operating income decreased to $51.0 million, with an operating margin of 25.7%.
Net income decreased by 10.5% to $52.0 million.
Grand Canyon Education
Grand Canyon Education
Grand Canyon Education Revenue by Segment
Forward Guidance
Grand Canyon Education anticipates Q4 2020 net revenue of $236.0 million and as adjusted diluted EPS of $1.80 using 46.8 million diluted shares. Full year 2020 net revenue is expected to be $841.8 million and as adjusted diluted EPS of $5.50 using 47.2 million diluted shares.