Grand Canyon Education Earnings Call Transcripts
Fiscal Year 2026
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Q2 2026 saw strong financial results, with service revenue up 6.7% and EPS beating consensus by $0.14. Enrollment growth was robust across online, ground, and hybrid platforms, while new program launches and an amended MSA position the company for continued expansion.
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Q1 2026 saw strong online and hybrid enrollment growth, a 6.7% YoY revenue increase, and margin expansion. Adjusted EPS beat consensus, and guidance for 2026 was reaffirmed despite minor revenue headwinds from contract changes. Share repurchases and AI-driven strategies remain key priorities.
Fiscal Year 2025
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Q4 2025 saw 8.7% online and 18.7% hybrid enrollment growth, with revenue up 5.3% year-over-year and EPS beating consensus. 2026 guidance projects continued enrollment and margin growth, with strong investments in AI, workforce programs, and share repurchases.
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Q3 2025 saw 9.6% online and 19.3% hybrid enrollment growth, with service revenue up 9.6% year-over-year. Adjusted EPS rose to $1.78, and guidance remains strong despite a $3M Q4 impact from the government shutdown on military tuition assistance.
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Q2 2025 saw strong enrollment and revenue growth, with online and hybrid segments outperforming expectations. Net income rose 19.1% and guidance for the full year was raised, supported by robust demand and new program launches.
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Online and hybrid enrollments exceeded expectations, driving a 5.3% increase in service revenue and net income for Q1 2025. Guidance for the year was raised, with continued investments in new programs, technology, and workforce partnerships expected to support growth.
Fiscal Year 2024
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Q4 2024 saw 7.1% online and 14.9% hybrid enrollment growth, with service revenue up 5.1% year-over-year. Net income rose to $81.9 million, and margins are expected to expand in H2 2025 as investments drive future growth.
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Q3 2024 saw 5.8% online and 12.6% hybrid enrollment growth (excluding closed/teach-out sites), with service revenue up 7.4% and net income up 16% year-over-year. Ground campus enrollment was slightly down due to FAFSA issues and inflation, but recovery is expected.
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Q2 2024 saw strong online and hybrid enrollment growth, beating revenue and EPS guidance. Operating margin and net income improved year-over-year, with continued investment in new programs and delivery models. Guidance for H2 2024 was narrowed due to ground campus headwinds.