Perdoceo Education Corporation (PRDO) Tops Q4 EPS by 5c, Revenues Beat; Offers Q1 & FY20 EPS Guidance Above Consensus

Perdoceo Education Corporation (NASDAQ: PRDO) reported Q4 EPS of $0.33, $0.05 better than the analyst estimate of $0.28. Revenue for the quarter came in at $158.8 million versus the consensus estimate of $149.9 million.

“We are excited to continue the journey of educating students under our new name, Perdoceo, which in Latin means ‘to teach, inform or instruct thoroughly,’” said Todd Nelson, President and Chief Executive Officer. “Fourth quarter 2019 marked a positive close to the year and we are proud to serve over 36,000 students pursuing postsecondary studies across our academic institutions. Fourth quarter results highlight the success of our operating strategy that focuses on student experiences, retention and academic outcomes, while making investments in technology and leveraging data analytics to further support our students and enhance their learning. Looking ahead, we remain committed to the objective of sustainable and responsible growth, and look forward to closing the Trident acquisition and its effective integration into our operations.”

GUIDANCE:

Perdoceo Education Corporation sees Q1 2020 EPS of $0.38-$0.40, versus the consensus of $0.36.

Perdoceo Education Corporation sees FY2020 EPS of $1.44-$1.49, versus the consensus of $1.43.

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. This outlook reflects the Company’s expectation of growth in new and total student enrollments at both universities for 2020. Further, for the first quarter of 2020, the Company expects growth in CTU’s new student enrollments as compared to the prior year quarter. AIU’s first quarter new student enrollments, however, are expected to decline due to 31 percent less enrollment days in the first quarter of 2020 as compared to the prior year quarter, although this decline is expected to be more than offset with new student enrollment growth in the second quarter which has approximately 50 percent more enrollment days than the prior year quarter. The Company expects that AIU’s enrollment days for the third and fourth quarters of 2020 will be relatively comparable to the respective prior year periods.

For earnings history and earnings-related data on Perdoceo Education Corporation (PRDO) click here.

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