Grand Canyon Education Q3 2024 Earnings Report
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.
Grand Canyon Education
Grand Canyon Education
Grand Canyon Education 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.