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Perdoceo Education Corporation (PRDO) delivers career-focused education through institutions like American InterContinental University and Colorado Technical University. This hub provides investors and stakeholders with essential updates about operational developments, financial performance, and academic initiatives in the evolving education sector.
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Perdoceo Education (NASDAQ: PRDO), a postsecondary education provider, has announced its second quarter 2024 financial results conference call scheduled for July 31, 2024. The company will release its earnings report after market close, followed by a live conference call and webcast at 5:30 p.m. Eastern time. Investors and interested parties can access the webcast through the company's website or join via phone using the provided dial-in numbers. The call will discuss Q2 results and the company's 2024 outlook. An archived version of the webcast will be available for 90 days on Perdoceo's website in the Investor Relations section.
Perdoceo Education (NASDAQ: PRDO) has signed a definitive agreement to acquire the University of St. Augustine for Health Sciences (USAHS) for approximately $142-144 million in cash. The acquisition, expected to close in December 2024, is subject to regulatory approvals. USAHS, a leading graduate health sciences university, had revenues of about $170 million and served around 4,500 students in 2023.
Key points:
- Acquisition price: $142-144 million in cash
- Expected closing: December 2024
- USAHS 2023 revenue: ~$170 million
- USAHS 2023 operating income: ~$35 million
- USAHS student count: ~4,500
Perdoceo expects the acquisition to be accretive to adjusted operating income starting in 2025. The company affirmed its 2024 adjusted operating income outlook of $175-190 million.
Perdoceo Education (NASDAQ: PRDO) reported operating and financial results for the first quarter of 2024. Operating income increased by 6.8% to $46.3 million, while adjusted operating income decreased by 6.8% to $49.5 million. Revenue decreased by 14.0% to $168.3 million, but total student enrollments increased by 9.0%. The company ended the quarter with $642.4 million in cash and investments. Todd Nelson, the CEO, highlighted positive trends in student retention and engagement. The company remains focused on investing in student resources and technology.
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