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, Inc. (LOPE) announced it will release its first quarter 2023 financial results after market close on May 2, 2023. A conference call to discuss these results will take place at 1:30 PM MT (4:30 PM ET) on the same day. Interested parties can register for the call and access the dial-in instructions through a provided link. The session will also be available via live webcast, with a replay accessible shortly afterward. Grand Canyon Education offers a range of services to 27 university partners, boasting over 30 years of expertise in the education sector, providing support in marketing, enrollment management, financial services, and more.
Grand Canyon Education (NASDAQ: LOPE) reported its fourth-quarter financial results for 2022, revealing a service revenue of $258.7 million, a 2.9% increase from 2021. However, the net income decreased by 16.5% to $71.0 million. Operating income fell to $90.7 million from $102.4 million in the same quarter last year. For 2022, total service revenue reached $911.3 million, up 1.6%, but net income dropped 29.1% to $184.7 million. Looking forward, GCE anticipates 2023 service revenue between $939 million and $965 million, with a diluted EPS guidance of $5.90 to $6.47.
Grand Canyon Education, Inc. (Nasdaq: LOPE) will report its 2022 fourth quarter results on February 16, 2023, after market close. A conference call will be held at 2:30 PMlive webcast, which will be replayed later. Grand Canyon Education provides services to 27 university partners, leveraging 30 years of industry experience in higher education support services.
Grand Canyon Education (NASDAQ: LOPE) reported Q3 2022 service revenue of $208.7 million, up 0.9% from Q3 2021, driven by an 8% growth in traditional campus enrollments despite a 4.7% decline in online enrollments. Operating income fell 21.6% to $35.5 million, with a margin of 17%. Net income decreased by 37% to $30 million, and diluted EPS was $0.96. The company announced a $200 million increase in its stock repurchase program. GCE projects Q4 2022 revenue between $255.5 million and $256.5 million and diluted EPS of $2.18 to $2.19.
Grand Canyon Education, Inc. (Nasdaq: LOPE) announced that it will release its third-quarter results for 2022 after the market close on October 27, 2022. A conference call to discuss the results will be held the same day at 1:30 P.M. (4:30 P.M. ET). Investors and interested parties can register for the call here to receive dial-in details and a unique PIN.
Grand Canyon University's CityServe initiative has successfully distributed over $3 million worth of goods to more than 6,500 families in its first year. Partnering with major retailers like Costco, Amazon, and Walmart, GCU acts as a HUB for CityServe, relying on 2,700 volunteer hours to operate more than 90 points of distribution across Arizona. This program focuses on providing essential household items and fostering sustainability in the community. The demand led to the expansion of warehouse space from 35,000 to over 88,000 square feet.
Grand Canyon Education, Inc. (NASDAQ: LOPE) reported Q2 2022 results, showing service revenue of $199.8 million, down 0.9% from Q2 2021. Key factors included a 7.5% decline in online enrollments and a 34% drop in OTA program participants. Operating income fell to $33.8 million, a 32.7% decrease year-over-year. Net income was $25.6 million, down 48.3%. The company expects Q3 2022 service revenue between $207.3 million and $209.3 million and full-year revenue between $903.2 million and $909.2 million. The decline in online enrollments raises concerns for future growth.
Grand Canyon Education (Nasdaq: LOPE) will report its Q2 2022 earnings on August 4, 2022, after market close. A conference call is scheduled for 1:30 PM PT to discuss the results in detail. Interested participants can register for the call to obtain dial-in numbers and a unique PIN. The live webcast will be available for investors and the public, with a replay accessible two hours after the call concludes. Grand Canyon Education supports 27 university partners with a wide range of education services, leveraging over 30 years of industry expertise.
Grand Canyon Education, Inc. (LOPE) reported Q1 2022 service revenue of $244.1 million, a 3.0% increase from Q1 2021. This growth was driven by an increase in revenue per student, though overall enrollments dropped by 4.5% year-over-year to 110,217. Operating income fell 7.9% to $77.5 million with an operating margin of 31.7%. Net income decreased 25.6% to $58.1 million, while diluted EPS decreased slightly from $1.69 to $1.66. The outlook for Q2 2022 anticipates service revenue between $199.5 million and $202.7 million.
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