Grand Canyon Education, Inc. announced its financial results for the first quarter ended March 31, 2025, reporting service revenue of $289.310 million. This represents a 5.3% increase compared to $274.675 million in Q1 2024, surpassing Wall Street's expectations. Diluted earnings per share (EPS) for the quarter were $2.52, up from $2.29 in the prior year, also exceeding consensus estimates.
The company's operating income for Q1 2025 rose by 4.2% to $88.023 million, and net income increased by 5.3% to $71.618 million. Total partner enrollments grew by 5.8% to 127,779 at March 31, 2025, with GCU enrollments reaching 123,773 and off-campus classroom and laboratory sites enrolling 5,027 students. One new hybrid site was opened, bringing the total to 46.
Grand Canyon Education updated its full-year 2025 guidance, projecting non-GAAP diluted EPS between $8.59 and $8.93, an increase from previous estimates. The company's liquidity decreased by $20.0 million to $304.7 million due to significant share repurchases and investments exceeding cash flow from operations. In Q1 2025, the company repurchased 395,426 shares for $68.4 million, demonstrating its commitment to returning value to shareholders.
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