Perdoceo Education Corporation (NASDAQ:PRDO) Q4 2023 Earnings Conference Call February 21, 2024 5:30 PM ET Company Participants Davis Snyder - IR Todd Nelson - President and CEO Ashish Ghia - CFO Conference Call Participants Operator Good day everyone and welcome to the Perdoceo Education Corporation Fourth Quarter and Full Year 2023 Earnings Conference Call. Today's call is being recorded. I would now like to turn the call over to Davis Snyder with Investor Relations. Please go ahead sir. Davis Snyder Than ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 0-23245 PERDOCEO EDUCATION CORPORATION (Exact name of Registrant as specified in its charter) | Delaware | 36-3932190 | | --- | --- | | ( ...

Revenue and Income - Revenue for the full year 2023 increased by 2.1% to $710.0 million, driven by an 11.8% increase at CTU[5] - Operating income for the full year 2023 increased by 16.1% to $150.4 million, while adjusted operating income increased by 6.7% to $174.9 million[12] - Net income for the full year 2023 was $147.7 million, a 54.1% increase compared to $95.9 million for the prior year[17] - Total revenue for 2023 was $710,004,000, a 2.3% increase from $695,208,000 in 2022[37] - Net income for 2023 reached $147,652,000, representing a 54.1% increase compared to $95,867,000 in 2022[37] - Operating income improved to $150,446,000 in 2023, up 16.0% from $129,637,000 in 2022, with an operating margin of 21.2%[37] - Adjusted operating income for 2023 was $174,912,000, compared to $163,968,000 in 2022[45] Student Enrollment - Total student enrollments decreased by 12.0% to 34,500, with CTU increasing by 3.2% and AIUS decreasing by 39.3%[7] Cash and Assets - Cash, cash equivalents, restricted cash, and available-for-sale short-term investments totaled $604.2 million as of December 31, 2023, compared to $518.2 million a year earlier[22] - Total current assets decreased to $575.119 million in 2023 from $654.964 million in 2022[32] - Total assets increased to $1.007 billion in 2023, up from $957.368 million in 2022[32] - Total stockholders' equity rose to $841.421 million in 2023, compared to $725.845 million in 2022[32] Earnings Per Share - Adjusted earnings per diluted share for the full year 2023 increased by 28.8% to $2.10 compared to $1.63 for the prior year[17] - Reported Earnings Per Diluted Share for Q4 2023 was $0.26, up from $0.23 in Q4 2022, and for the full year 2023, it was $2.18 compared to $1.39 in 2022[47] - Adjusted Earnings Per Diluted Share for Q4 2023 was $0.27, down from $0.31 in Q4 2022, while for the full year 2023, it was $2.10 compared to $1.63 in 2022[47] - The outlook for Q1 2024 projects Reported Earnings Per Diluted Share between $0.52 and $0.54, compared to $0.50 in Q1 2023[47] - The full year 2024 outlook for Reported Earnings Per Diluted Share is between $1.96 and $2.18, matching the actual figure of $2.18 for 2023[47] Dividends and Stock Repurchase - The board declared a quarterly dividend of $0.11 per share, payable on March 15, 2024[18] - A new stock repurchase program was approved, allowing the company to repurchase up to $50.0 million of its common stock, effective March 1, 2024[19] Future Outlook - The company expects operating income for Q1 2024 to be between $40.1 million and $42.1 million, and for the full year 2024 to be between $154.6 million and $174.6 million[24] - The company expects an effective income tax rate of approximately 25.5% for Q1 2024 and around 26% for the full year[25] - The outlook for 2024 assumes no significant impact from regulatory changes or legal matters affecting operations[25] Educational Commitment - The company continues to focus on enhancing student experiences and retention through innovative educational technologies[27] - Perdoceo's institutions are committed to providing quality education that meets the needs of today's workforce[27] Other Financial Metrics - Cash flows from operating activities decreased to $112,025,000 in 2023 from $148,186,000 in 2022[39] - The company reported a total other income of $41,675,000 in 2023, significantly up from $4,632,000 in 2022[37] - The CTU segment generated revenue of $468,926,000 in 2023, a 11.7% increase from $419,617,000 in 2022[43] - AIUS segment revenue decreased to $240,300,000 in 2023, down 12.5% from $274,479,000 in 2022[43] Acquisitions and Non-GAAP Measures - The company completed the acquisition of Coding Dojo on December 1, 2022, and CalSouthern on July 1, 2022, impacting the results of operations[51] - The company emphasizes the use of non-GAAP financial measures to provide a clearer view of operational performance, excluding certain non-cash items[49] - Adjusted operating income and adjusted earnings per diluted share are used to compare current results with industry peers, excluding non-routine expenses[49] - The company notes that future results may still be affected by unusual or non-recurring expenses despite the use of adjusted measures[49]

Perdoceo Education Corporation (NASDAQ:PRDO) Q3 2023 Earnings Conference Call November 2, 2023 5:30 PM ET Company Participants Davis Snyder - IR Andrew Hurst - President & CEO Ashish Ghia - CFO Conference Call Participants Operator Ladies and gentlemen, thank you for standing by. My name is Bhavesh, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Perdoceo Education Corporation Third Quarter 2023 Earnings Conference Call. At this time all lines have been plac ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED SEPTEMBER 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 0-23245 PERDOCEO EDUCATION CORPORATION (Exact name of registrant as specified in its charter) Delaware 36-3932190 (State or other jurisdiction of incorporation ...

Perdoceo Education Corporation (NASDAQ:PRDO) Q2 2023 Earnings Conference Call August 3, 2023 5:30 PM ET Company Participants Davis Snyder - Investor Relations Todd Nelson - Executive Chairman Andrew Hurst - President & Chief Executive Officer Ashish Ghia - Chief Financial Officer Conference Call Participants Operator Thank you for standing by. My name is Jordan, and I'll be your conference operator today. At this time, I'd like to welcome you to the Perdoceo Education Corporation Conference Call. [Operator ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED JUNE 30, 2023 OR Delaware 36-3932190 (State or other jurisdiction of incorporation or organization) 1750 E. Golf Road Schaumburg, Illinois 60173 (Address of principal executive offices) (Zip Code) Registrant's telephone number, including area code: (847) 781-3600 Former Name, Former Address and Fo ...

Perdoceo Education Corporation (NASDAQ:PRDO) Q1 2023 Earnings Conference Call May 4, 2023 5:30 PM ET Company Participants Davis Snyder - Investor Relations Andrew Hurst - President & Chief Executive Officer Ashish Ghia - Chief Financial Officer Conference Call Participants Operator Hello, everyone. Thank you for attending today's Perdoceo Education Corporation First Quarter 2023 Earnings Conference Call. My name is Sierra, and I will be your moderator today. All lines are in a listen-only-mode. And I would ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark one) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE QUARTERLY PERIOD ENDED MARCH 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number: 0-23245 PERDOCEO EDUCATION CORPORATION (Exact name of registrant as specified in its charter) Delaware 36-3932190 (State or other j ...

Perdoceo Education Corporation (NASDAQ:PRDO) Q4 2022 Earnings Conference Call February 23, 2023 5:30 PM ET Company Participants Davis Snyder - Investor Relations Andrew Hurst - President & Chief Executive Officer Ashish Ghia - Chief Financial Officer Conference Call Participants Operator Good afternoon. Thank you for attending today's Perdoceo Education Corporation Fourth Quarter and Full Year 2022 Earnings Conference Call. My name is Hannah, and I will be your moderator for today's call. All lines will be ...