Perdoceo Education Corporation reports developments tied to its postsecondary education programs delivered through academic institutions including Colorado Technical University, American InterContinental University System and the University of St. Augustine for Health Sciences. Recurring updates cover quarterly and annual operating results, student enrollment and retention trends, program demand, and segment revenue across CTU, AIUS and USAHS.
Company news also includes capital-allocation actions such as dividends and common stock repurchase authorizations, along with investments in academics, student support processes and education technology. Perdoceo completed the acquisition of USAHS in 2024, adding a health sciences institution to its reporting mix.
Perdoceo Education (NASDAQ: PRDO) reported Q2 2024 results with a 4.2% increase in total student enrollments, driven by a 14.7% increase at CTU, partially offset by an 18.2% decrease at AIUS. Revenue decreased 10.6% to $166.7 million, while operating income decreased 4.3% to $46.0 million. Adjusted earnings per diluted share were $0.60 compared to $0.61 in the prior year quarter. The company ended Q2 with $675.2 million in cash and investments. The Board increased the quarterly dividend by 18.2% to $0.13 per share. Perdoceo also announced an agreement to acquire the University of St. Augustine for Health Sciences for approximately $142-144 million, expecting it to be accretive to adjusted operating income in 2025.
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 An archived version of the webcast will be available for 90 days on Perdoceo's website in the Investor Relations section.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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