Perdoceo Education Corporation announced its third-quarter 2024 financial results, reporting adjusted earnings per diluted share of $0.59. This performance was driven by strong student retention and engagement across its academic institutions, exceeding management's expectations for the quarter.
Total student enrollments reached 40,400 as of September 30, 2024, marking an 11.0% increase compared to the prior year. Colorado Technical University (CTU) saw a 13.6% rise in enrollments to 30,000 students, while the American InterContinental University System (AIUS) grew by 4.0% to 10,400 students.
The company reported total revenue of $169.8 million for the quarter. Operating income increased by 4.0% to $44.794 million, and adjusted operating income rose by 2.8% to $48.566 million. Perdoceo also increased its full-year 2024 adjusted operating income outlook to a range of $188.0 million to $191.0 million and adjusted EPS to $2.25 to $2.28, reflecting confidence in its operational trajectory. A quarterly dividend of $0.13 per share was declared, payable on December 13, 2024.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.