Perdoceo Education Corp. (PRDO) Tops Q2 EPS by 4c, Revenues Beat; Offers 3Q & FY20 EPS Outlook

Perdoceo Education Corp. (NASDAQ: PRDO) reported Q2 EPS of $0.41, $0.04 better than the analyst estimate of $0.37. Revenue for the quarter came in at $176 million versus the consensus estimate of $173.57 million.

Second Quarter 2020 Results as Compared to the Prior Year Quarter

Financial Results

• Revenue increased by 12.5 percent to $176.0 million with both universities contributing to the growth
• Operating income increased to $37.4 million as compared to $0.2 million
• Adjusted operating income increased to $41.7 million as compared to $32.8 million*
• Earnings per diluted share of $0.40 compared to loss per diluted share of $0.01
• Adjusted earnings per diluted share of $0.41 as compared to $0.34*
• Ended the quarter with $345.8 million in cash, cash equivalents, restricted cash and available-for-sale short-term investments

“The health and well-being of our students, employees and communities continue to be our priority and I am extremely proud of our faculty and employees for their dedication and commitment towards educating, serving and supporting our students during these challenging times,” said Todd Nelson, President and Chief Executive Officer. “We are further optimizing our technology, improving our processes and providing the necessary tools and resources to our employees so they can continue to effectively and efficiently serve students even while working remotely. Although the pandemic has not had a material impact on our operating results to date, we continue to monitor the situation. Our balance sheet continues to strengthen, and we are strategically investing in initiatives that further enhance our students’ experiences, retention and academic outcomes while executing against our strategy of sustainable and responsible growth.”

GUIDANCE:

Perdoceo Education Corp. sees Q3 2020 EPS of $0.34-$0.35, versus the consensus of $0.32.

Perdoceo Education Corp. sees FY2020 EPS of $1.48-$1.52, versus the consensus of $1.51.

For earnings history and earnings-related data on Alabama Power Company 4.64 Preferred Stock (PRDO) click here.

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