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 (Nasdaq: LOPE) will report its Q1 2022 results on May 4, 2022, after market close. A conference call to discuss the results will take place at 1:30 P.M. (4:30 P.M. ET) on the same day. Investors can access the live webcast here, with a replay available two hours after the call. GCE offers education services to 27 university partners, leveraging 30 years of experience to enhance post-secondary education support through various services, including enrollment management and technology solutions.
Grand Canyon Education, Inc. (NASDAQ: LOPE) reported its fourth quarter results for 2021, revealing service revenue of $251.4 million, up from $238.3 million in Q4 2020. The growth was due to greater revenue per student, despite a 3.0% decrease in university partner enrollments. Operating income rose to $102.4 million, while net income slightly declined by 1.9% to $85.1 million. The company announced a new $175 million increase in its stock repurchase program, with $420.4 million still available for buybacks. 2022 revenue guidance ranges from $905 million to $930 million.
Grand Canyon Education (Nasdaq:LOPE) will report its 2021 fourth quarter results on February 16, 2022, after market close. A conference call will follow at 2:30 PM (4:30 PM ET) to discuss the results in detail. Interested parties can access the call via dial-in or a live webcast. The company offers various support services to 27 university partners, leveraging 30 years of industry expertise. For more information, visit www.gce.com.
Harding University is launching new online Master's programs in Business Administration and Information Systems in February 2022, in partnership with Grand Canyon Education. These 14-month programs will emphasize core subjects through fast-paced six-week blocks while ensuring small class sizes for personalized learning. The MBA will cover various business disciplines, while the Information Systems program focuses on technology and data analysis. With growing interest in online education, these initiatives aim to address the demand for quick, relevant learning that can be applied directly in the workplace.
Grand Canyon Education (NASDAQ: LOPE) reported its Q3 2021 financial results with service revenue of $206.8 million, a 4.1% increase from Q3 2020. This growth was driven by higher university partner enrollments, totaling 118,832, and increased revenue per student due to ancillary services. However, operating income fell to $45.3 million, a 11.2% decrease, and net income dropped 8.4% to $47.7 million. The company forecasts Q4 service revenue between $252 million and $255 million and a full year revenue between $897.2 million and $900.2 million.
Grand Canyon Education, Inc. (LOPE) will release its third-quarter 2021 results on October 28, 2021, after market close. A conference call to discuss these results will be held at 1:30 P.M. PT (4:30 P.M. ET) the same day. Interested parties can join the call using the specified dial-in numbers or access a live webcast. GCE, established in 2008, offers comprehensive education services to 27 university partners, leveraging over 30 years of expertise in the sector.
Grand Canyon Education, Inc. (LOPE) reported a robust financial performance for Q2 2021, with service revenue at $201.5 million, a 8.8% increase from Q2 2020. The growth stemmed from higher university partner enrollments and increased revenue per student. Net income rose by 5.2% to $49.5 million, translating to diluted earnings per share of $1.09. Despite challenges like a one-day shift in semester timing and a decline in online student growth rates, GCE remains optimistic about future enrollments. The company has authorized a $970 million increase in its stock repurchase program, totaling $1.47 billion since inception.
Grand Canyon Education (Nasdaq:LOPE) will announce its 2021 second quarter results on August 5, 2021, after the market closes. A conference call will follow at 1:30 PM PT to discuss these results in detail. Dial-in numbers for participants are provided, along with a link for a live webcast of the call and a replay option. The company, established in 2008, supports 27 university partners, offering a range of services aimed at enhancing academic experiences through technology and operational efficiencies.
Grand Canyon Education, Inc. (LOPE) reported a 6.9% increase in service revenue, reaching $236.9 million for Q1 2021, compared to $221.7 million in Q1 2020. This growth was driven by a 7.2% rise in university partner enrollments. Operating income rose to $84.2 million, with a net income increase of 9.4% to $78.1 million. However, revenue per student declined due to COVID-19 impacts, particularly at Grand Canyon University. The company forecasts full-year service revenue of $919.9 million and adjusted diluted EPS of $6.19.
Grand Canyon Education (Nasdaq: LOPE) will report its Q1 2021 earnings on May 5, 2021, after market close. A conference call is scheduled for the same day at 1:30 PM (4:30 PM ET) to discuss the results. Investors can access a live webcast and replay of the call. GCE provides comprehensive education services to 26 university partners, leveraging 30 years of industry expertise and technological solutions. For more information, visit www.gce.com.
FAQ
What is the current stock price of Grand Canyon Education (LOPE)?
What is the market cap of Grand Canyon Education (LOPE)?
What does Grand Canyon Education, Inc. do?
Who is Grand Canyon Education's primary university partner?
Where is Grand Canyon Education, Inc. located?
What recent financial performance has Grand Canyon Education reported?
What challenges has Grand Canyon Education faced recently?
What are Grand Canyon Education's financial projections for 2024?
What services does Grand Canyon Education provide to its partners?
How does Grand Canyon Education support its partners technologically?
When will Grand Canyon Education report its Q4 2023 financial results?
Where can I find more information about Grand Canyon Education, Inc.?
