DeVry Education Group (DV) Tops Q2 EPS by 1c

DeVry Education Group (NYSE: DV) reported Q2 EPS of $0.68, $0.01 better than the analyst estimate of $0.67. Revenue for the quarter came in at $486.2 million versus the consensus estimate of $459.63 million.

Outlook

DeVry Group provided the following outlook for the third quarter and full year of fiscal 2016:

During the third quarter, revenue is expected to decrease about 4 to 5 percent year over year, reflecting the repositioning of DeVry University and declining revenue at Carrington, offsetting revenue growth at DeVry Group’s other institutions.
Third quarter operating costs are expected to decline about 3 to 4 percent versus the prior year quarter
The effective income tax rate is expected to be approximately 20 percent, before special items
For the full year, revenue is expected to be down 4 to 5 percent and earnings before special items to decline 5 to 6 percent compared to fiscal 2015

For earnings history and earnings-related data on DeVry Education Group (DV) click here.

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