The following is a summary of the Grand Canyon Education, Inc. (LOPE) Q2 2024 Earnings Call Transcript:
Financial Performance:
GCE reported Q2 revenue of $227.5 million, up 8% year-over-year.
Operating income was $42.7 million, a rise of $7.3 million year-over-year.
Net income for Q2 increased to $34.9 million, up 20.4% from last year.Earnings per share for the quarter was $1.19, with adjusted diluted EPS at $1.27.
Business Progress:
GCE observed strong enrollments, with overall enrollments for the quarter rising due to impressive online and hybrid enrollment growth.
Rolled out 148 new programs across 10 colleges since the start of the pandemic.
Continued investment in new hybrid locations and research programs aligning with labor market needs.
Expansion planned with a new trade-focused education platform and continued investments in physical campuses.
Opportunities:
Expansion in hybrid learning to cater to demand in healthcare, specifically nursing and occupational therapy.
Launch of trade and vocational education programs in response to market demand and partnership with businesses facing labor shortages.
More details: Grand Canyon Education IR
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