American Public Education (APEI) Tops Q1 EPS by 8c

American Public Education (NASDAQ: APEI) reported Q1 EPS of $0.49, $0.08 better than the analyst estimate of $0.41. Revenue for the quarter came in at $88.5 million versus the consensus estimate of $87.99 million.

Angela Selden, APEI's Chief Executive Officer, said, "For the sixth consecutive quarter both APUS and Hondros have delivered year-over-year enrollment growth, improving APEI's operating performance significantly. We believe our enterprise transformation initiatives, continued emphasis on outreach to nursing and military communities particularly during the pandemic, and improved operating efficiencies are delivering top-line growth and solid financial performance this quarter."

"Our excitement continues to build as we approach the completion of the Rasmussen University acquisition, currently planned for the third quarter of this year. As we look to becoming the market-leading national pre-licensure nursing platform, we will prioritize growth initiatives and operating efficiency, all while continuing to deliver on our collective successful track record of favorable student outcomes and high-quality, affordable education. We look forward to welcoming Rasmussen University into the APEI family of institutions," added Selden.

GUIDANCE:

• APEI expects second quarter 2021 consolidated revenue to decline between 5% and 3% compared to the prior year period.
• APEI anticipates net income of between a $0.8 million loss and $0.6 million income or between a loss of $0.04 and $0.03 income per diluted share.
• Adjusted EBITDA is anticipated to be between $7.3 and $9.2 million.

For earnings history and earnings-related data on American Public Education (APEI) click here.

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