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Sep 30, 2024
Grand Canyon Education Q3 2024 Earnings Report
Third quarter results were reported, with revenue increase driven by enrollment growth and revenue per student.
Key Takeaways
Grand Canyon Education reported a revenue of $238.3 million for the third quarter of 2024, a 7.4% increase compared to the same period in 2023. The increase was primarily due to higher enrollments at Grand Canyon University and off-campus sites, as well as an increase in revenue per student. Net income increased by 16.0% to $41.5 million, and diluted net income per share was $1.42.
Service revenue increased by 7.4% year over year to $238.3 million.
Partner enrollments totaled 127,977, compared to 123,165 in the prior year.
Operating income increased to $48.2 million, with an operating margin of 20.2%.
Net income increased 16.0% to $41.5 million, resulting in diluted earnings per share of $1.42.
Revenue by Segment
Forward Guidance
Grand Canyon Education anticipates Q4 2024 service revenue between $289.0 million and $290.0 million, operating margin between 35.2% and 35.4%, effective tax rate of 21.2%, and diluted EPS between $2.86 and $2.89.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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