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Dec 31, 2020
Perdoceo Q4 2020 Earnings Report
Reported an increase in revenue and operating income, driven by enrollment growth and the Trident acquisition.
Key Takeaways
Perdoceo Education Corporation reported an 8.0% increase in revenue to $171.2 million and a 13.0% increase in operating income to $36.2 million for the fourth quarter of 2020. Enrollment growth at both CTU and AIU, along with the Trident acquisition, supported the revenue increase. Earnings per diluted share remained flat at $0.38, while adjusted earnings per diluted share increased to $0.39.
Revenue increased by 8.0 percent to $171.2 million.
Operating income increased by 13.0 percent to $36.2 million.
Earnings per diluted share of $0.38 remained flat.
Total student enrollments increased 16.7 percent.
Revenue by Segment
Forward Guidance
The Company is providing the following outlook, subject to the key assumptions identified below. Please see the GAAP to non-GAAP reconciliation for adjusted operating income and adjusted earnings per diluted share attached to this press release for further details.
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 investments 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 operating or financial impacts from the COVID-19 pandemic beyond known costs which have been incorporated in the outlook
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
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