Grand Canyon Education Earnings Call Transcripts
Fiscal Year 2026
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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 grew strongly in Q1 2025, driving a 5.3% revenue and net income increase. Margins dipped slightly due to higher costs, but guidance for 2025 was raised on continued enrollment momentum and new program launches.
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.