Loading...
•
Mar 31, 2021
Perdoceo Q1 2021 Earnings Report
Perdoceo Education Corporation's operating income and revenue increased, driven by growth in both CTU and AIU segments.
Key Takeaways
Perdoceo Education Corporation reported a 7.4% increase in revenue to $183.6 million and an 8.9% increase in operating income to $40.6 million for the quarter ended March 31, 2021. Earnings per diluted share increased to $0.43, and adjusted earnings per diluted share increased to $0.44. Total student enrollments increased by 9.7%.
Revenue increased by 7.4% to $183.6 million, with contributions from both CTU and AIU.
Operating income rose by 8.9% to $40.6 million, while adjusted operating income increased by 11.7% to $44.6 million.
Earnings per diluted share increased to $0.43, and adjusted earnings per diluted share increased to $0.44.
Total student enrollments increased by 9.7%, with CTU experiencing a 12.8% increase and AIU a 5.0% increase.
Perdoceo
Perdoceo
Perdoceo Revenue by Segment
Revenue by Segment
CTU Revenue
CapyFin.comAIUS Revenue
CapyFin.comCorporate and Other Revenue
CapyFin.com Forward Guidance
The Company is providing the following outlook for the quarter ending June 30, 2021, and the year ending December 31, 2021.
Positive Outlook
- Prospective student interest in the Company’s programs remains consistent with recent experience.
- No significant changes in the timing and amounts of planned investments and initiatives continue to positively impact student enrollments.
- No significant impact of new or proposed regulations, including the “borrower defense to repayment” regulations, or other adverse changes in the legal or regulatory environment.
- No significant operating impacts from the settlements with the U.S. Federal Trade Commission and state attorneys general or other legal or regulatory matters.
- No significant future operating or financial impacts relating to the COVID-19 pandemic.
Challenges Ahead
- Actual results could differ materially from these estimates.
- Decisions the Company makes in the future as it continues to evaluate diverse strategies to enhance shareholder value may impact the outlook provided above.
- The operating income, adjusted operating income, earnings per share and adjusted earnings per share outlook provided above for 2021 are based on key assumptions and factors.
- Earnings per diluted share outlook assumes an effective income tax rate of approximately 26.5% for the second quarter and full year.
- Any future impact from the Company’s stock repurchase program is excluded.
Revenue & Expenses
Visualization of income flow from segment revenue to net income