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Mar 31, 2022
Perdoceo Q1 2022 Earnings Report
Perdoceo's first quarter results were announced, with revenue slightly decreasing and operating income increasing.
Key Takeaways
Perdoceo Education Corporation reported a slight decrease in revenue by 0.4% to $183.0 million. However, the company experienced an increase in operating income by 7.6% to $43.7 million and an increase in earnings per diluted share to $0.46 compared to $0.43 in the prior year quarter.
Revenue decreased slightly by 0.4 percent to $183.0 million.
Operating income increased by 7.6 percent to $43.7 million.
Earnings per diluted share increased to $0.46, compared to $0.43 in the prior year quarter.
The company ended the quarter with $499.3 million in cash, cash equivalents, restricted cash and available-for-sale short-term investments.
Perdoceo
Perdoceo
Perdoceo Revenue by Segment
Revenue by Segment
CTU Revenue
CapyFin.comCorporate and Other Revenue
CapyFin.com Forward Guidance
The company provided an updated outlook for the quarter ending June 30, 2022, and the year ending December 31, 2022.
Positive Outlook
- Operating income for the quarter ending June 30, 2022, is projected to be between $30.0M and $32.0M.
- Adjusted operating income for the quarter ending June 30, 2022, is projected to be between $37.0M and $39.0M.
- Earnings per diluted share for the quarter ending June 30, 2022, are projected to be between $0.32 and $0.34.
- Adjusted earnings per diluted share for the quarter ending June 30, 2022, are projected to be between $0.36 and $0.38.
- Depreciation and amortization is expected to be $5.0M for the quarter ending June 30, 2022.
Challenges Ahead
- Legal fee expenses are expected to be $2.0M for the quarter ending June 30, 2022.
- The outlook is subject to prospective student interest and student retention remaining consistent with management’s estimates.
- The outlook assumes no significant impact of new or proposed regulations.
- The outlook excludes any future impact from the Company’s stock repurchase program.
- The outlook assumes an effective income tax rate of approximately 25.0% for the second quarter and 26.0% for the full year.
Revenue & Expenses
Visualization of income flow from segment revenue to net income