Grand Canyon Education Q4 2022 Earnings Report
Key Takeaways
Grand Canyon Education reported a 2.9% increase in service revenue for Q4 2022, reaching $258.7 million, driven by growth in GCU traditional campus enrollments and revenue per student, which was offset by decreases in online enrollments at GCU and students in a university partner's OTA program. Operating income decreased to $90.7 million, and net income decreased to $71.0 million.
Service revenue increased by 2.9% to $258.7 million compared to Q4 2021, driven by growth in GCU traditional campus enrollments and revenue per student.
Partner enrollments totaled 112,955, a slight increase from 112,554 in the prior year.
Operating income decreased to $90.7 million, with an operating margin of 35.1%.
Net income decreased by 16.5% to $71.0 million.
Grand Canyon Education
Grand Canyon Education
Grand Canyon Education Revenue by Segment
Forward Guidance
Grand Canyon Education provided its outlook for Q1-Q4 and full year 2023.