Welcome to our dedicated page for Grand Canyon Education news (Ticker: LOPE), a resource for investors and traders seeking the latest updates and insights on Grand Canyon Education stock.
Grand Canyon Education, Inc. (GCE) (NASDAQ: LOPE) is a publicly traded education services company established in 2008. Based in Phoenix, Arizona, GCE provides comprehensive support services to 25 university partners, most notably Grand Canyon University (GCU). GCU, an Arizona non-profit corporation, offers a wide range of graduate and undergraduate programs, certificates, and emphases across nine colleges. These programs are available both online and on ground at its Phoenix campus and four additional off-site locations.
GCE's core operations involve delivering an extensive array of services to support its university partners' educational missions. These services include marketing, strategic enrollment management, counseling, financial services, technology, technical support, compliance, human resources, classroom operations, curriculum development, and faculty recruitment and training. By leveraging its technological solutions and operational processes, GCE enhances the educational experiences of students, faculty, and staff.
Recent financial updates highlight the company's steady performance. For the quarter ended September 30, 2023, GCE reported a decrease in liquidity by $27.3 million from December 31, 2022, primarily due to share repurchases and capital expenditures. At the end of Q3 2023, unrestricted cash and investments stood at $154.4 million. The Board of Directors recently increased the stock repurchase program authorization by $200 million, with the current authorization expiring on March 1, 2025.
Despite facing regulatory challenges, including ongoing audits and lawsuits from federal agencies, GCE remains resilient. For instance, a recent risk-based audit by the Arizona State Approving Agency (SAA) for the U.S. Department of Veterans Affairs concluded with no findings against GCU. The audit was part of coordinated actions by federal agencies against GCU, which the university has vehemently contested.
Looking ahead to 2024, GCE projects robust financial performance with anticipated non-GAAP diluted income per share ranging from $7.39 to $7.91. The company continues to expand its services, recently reporting positive liquidity growth for Q1 2024, attributed to strong operational cash flows.
GCE's leadership, with over 30 years of expertise in the education services sector, positions the company uniquely to support large-scale educational initiatives. For more information, visit the company's website at www.gce.com.
Grand Canyon Education (LOPE) reported strong Q3 2024 financial results with service revenue increasing 7.4% to $238.3 million. Total partner enrollments grew to 127,977, up from 123,165 year-over-year. The company's operating income rose to $48.2 million, with operating margin expanding to 20.2%. Net income increased 16.0% to $41.5 million, with diluted EPS of $1.42. For full-year 2024, LOPE expects service revenue between $1,029.4-$1,030.4 million and adjusted diluted EPS of $8.02-$8.05.
Grand Canyon University is marking its 75th anniversary with a Week of Service from October 28-November 2, offering over 1,000 service opportunities across 40 different ministries. The initiative includes two signature events: GCU CityServe and GCU Habitat.
Key activities include food box distribution, computer refurbishing, bunk bed delivery, and home renovation projects. Students will serve at various locations, including St. Vincent de Paul for homeless ministry and Colter Commons senior living facility. The university typically offers 700 weekly volunteer opportunities, which will expand to over 1,000 during this special week.
Grand Canyon Education (Nasdaq: LOPE) has announced its upcoming third quarter 2024 earnings release and conference call details. The company will report its Q3 2024 results after market close on Wednesday, November 6, 2024. A conference call to discuss the results in more detail is scheduled for 2:30 P.M. (4:30 P.M. ET) on the same day.
Interested participants can register for the call to receive dial-in numbers and a unique PIN for seamless access. The company advises dialing in at least ten minutes before the call starts. A live webcast of the event will be accessible to investors, journalists, and the general public. A webcast replay will be available approximately two hours after the call concludes.
Grand Canyon Education (NASDAQ: LOPE) reported strong Q2 2024 results, with service revenue increasing 8.0% to $227.5 million. The company saw a 7.0% rise in GCU enrollments to 102,676 and a 12.1% increase in off-campus enrollments to 4,377. Net income grew 20.4% to $34.9 million, with diluted EPS rising to $1.19. Adjusted EBITDA increased 22.6% to $58.5 million.
For the first half of 2024, service revenue rose 9.0% to $502.1 million, with net income up 16.2% to $102.9 million. The company's liquidity position improved, with cash and investments increasing by $97.3 million to $341.8 million. GCE provided a positive outlook for Q3, Q4, and full-year 2024, projecting continued growth in service revenue and earnings.
Grand Canyon Education (LOPE) released its second quarter 2024 results with a correction to the previously issued press release. The company reported service revenue of $210.6 million, a 3.8% increase from the same period in 2023. Operating income rose by 6.4% to $51.0 million. Net income grew 8.3% to $41.3 million, with diluted earnings per share increasing 13.4% to $1.35.
LOPE's partner institutions saw total enrollment growth of 5.2% to 112,049 students as of June 30, 2024. The company maintained a strong financial position with unrestricted cash and investments of $304.4 million. LOPE also repurchased 316,093 shares of common stock in Q2 2024. The company provided updated guidance for the full year 2024, projecting service revenue between $945.0 million and $955.0 million.
Grand Canyon Education (Nasdaq: LOPE) announced that it will release its Q2 2024 earnings results on August 6, 2024, after the market closes. A conference call to discuss the results will be held at 1:30 P.M. (4:30 P.M. ET) the same day. Participants can register for the call to receive dial-in numbers and a unique PIN. A live webcast and a replay of the event will be accessible to investors, journalists, and the public.
Grand Canyon Education, Inc. (NASDAQ: LOPE) reported first quarter 2024 results with a service revenue increase of 9.8% compared to the same period last year, driven by higher enrollments and revenue per student. Operating income saw a $10 million boost, while net income rose by 14.2%. Adjusted EBITDA increased by 13.8%. The company's liquidity position improved, with cash and investments rising by $46.2 million. The outlook for 2024 shows projected growth in service revenue, operating margin, and diluted EPS.
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