The following is a summary of the American Public Education, Inc. (APEI) Q3 2024 Earnings Call Transcript:
Financial Performance:
APEI reported Q3 2024 revenue of $153 million, a 1.5% increase year-over-year, driven by increased revenue at APUS, Hondros, and Rasmussen.
Net income stood at $731,000, or $0.04 per diluted share, aligning with the high end of guidance.
Adjusted EBITDA for the quarter was $12.9 million, surpassing the top end of the guidance range.Full year 2024 revenue guidance projects a 3% to 4% increase to $620 million to $625 million, with adjusted EBITDA expected between $64 million to $67 million.
Business Progress:
Rasmussen University saw its first year-over-year enrollment increase post-API acquisition, continuing into Q4 with a 4% increase, demonstrating successful repositioning for growth.
Hondros College maintains strong enrollment growth, particularly in its PN and ADN nursing programs, with a 19% increase in total student enrollment year-over-year in Q4 to approximately 3,700 students.
Significant investments in APUS's online curriculum, IT infrastructure, and marketing have begun to yield increased registrations.
Opportunities:
Continued expansion of nursing and healthcare education programs at Rasmussen and Hondros, addressing high demand for nurses which remain in significant shortage nationwide.
Market expansion and program diversification at Hondros, combined with continued growth in APUS registrations, pose opportunities for sustained growth.
Risks:
No explicit risks/opportunities detected.
Tips: This article is generated by AI. The accuracy of the content can not be fully guaranteed. For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
