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Sep 30, 2021
Perdoceo Q3 2021 Earnings Report
Reported an increase in revenue and operating income, driven by growth at CTU and the acquisitions of DigitalCrafts and Hippo Education.
Key Takeaways
Perdoceo Education Corporation reported a 2.9% increase in revenue to $174.0 million and an 18.0% increase in operating income to $37.9 million for the third quarter of 2021. The company completed the acquisitions of DigitalCrafts and Hippo Education during the quarter, expanding its professional development and continuing education offerings.
Revenue increased 2.9 percent to $174.0 million, with growth at CTU being partially offset with a decline at AIU.
Operating income increased 18.0 percent to $37.9 million while adjusted operating income increased 28.4 percent to $46.3 million.
Earnings per diluted share was $0.39 as compared to $0.56 while adjusted earnings per diluted share was $0.45 as compared to $0.35.
Total student enrollments at September 30, 2021 decreased by 0.9 percent, with CTU experiencing a 7.5 percent increase that was offset by an 11.6 percent decrease within AIU.
Revenue by Segment
Forward Guidance
The Company is providing the following updated outlook, subject to the key assumptions identified below.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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