Free Research Report as Grand Canyon Education’s Revenue Grew 12.2% and EPS Surged 30.6%
Stock Monitor: Cambium Learning Post Earnings Reporting
LONDON, UK / ACCESSWIRE / December 12, 2017 / Active-Investors free earnings report on Grand Canyon Education, Inc. (NASDAQ: LOPE) has freshly been issued to its members, and you can also sign up to view this report at www.active-investors.com/registration-sg/?symbol=LOPE. The Company posted its financial results on November 01, 2017, for the third quarter of the fiscal year 2017. The education Company's revenue and EPS surpassed analysts' expectations. Register today and get free access to our complimentary member's area where many more reports are available:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Grand Canyon Education most recent news is on our radar and we have decided to include it on our blog post. Today's free coverage is available at:
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Earnings Highlights and Summary
For the three months ended September 30, 2017, Grand Canyon Education's net revenue increased 12.2% to $236.21 million from $210.44 million in Q3 FY16. The Company's net revenue numbers surpassed analysts' expectations of $231.43 million.
For the reported quarter, the Company's enrollment increased 10.7% to 91,230 from 82,422 in Q3 FY16, while ground enrollment increased 9.5% to 19,042 from 17,384 in the year ago same period. During Q3 FY17, the Company's online enrollment increased 11.0% to 72,188 from 65,038 in Q3 FY16.
During Q3 FY17, Grand Canyon Education's earnings before interest, tax, depreciation, and amortization (EBITDA) increased 23.5% to $73.23 million from $58.49 million in the comparable period of last year. For the reported quarter, the Company's EBITDA margin increased 320 basis points to 31% of revenue from 27.8% of revenue in the third quarter of 2016.
During Q3 FY17, Grand Canyon Education's adjusted EBITDA increased 17.1% to $81.05 million from $69.23 million in the corresponding period of last year. For the reported quarter, the Company's adjusted EBITDA margin increased 140 basis points to 34.3% of revenue from 32.9% of revenue in the third quarter of 2016.
For the reported quarter, Grand Canyon Education's operating income increased 26.8% to $59.69 million from $47.07 million in Q3 FY16. For the reported quarter, the Company's operating margin increased 290 basis points to 25.3% of revenue from 22.4% of revenue in the third quarter of last year.
During Q3 FY17, Grand Canyon Education's earnings before tax (EBT) increased 36.3% to $60.57 million from $44.43 million in the same period of last year. For the reported quarter, the Company's EBT margin increased 450 basis points to 25.6% of revenue from 21.1% of revenue in the third quarter of last year.
For the reported quarter, Grand Canyon Education's net income increased 34.4% to $39.30 million on a y-o-y basis from $29.24 million in Q3 FY16. During Q3 FY17, the Company's diluted earnings per share (EPS) increased 30.6% to $0.81 on a y-o-y basis from $0.62 in the comparable period of last year, surpassing analysts' expectations of $0.75.
Balance Sheet
As on September 30, 2017, Grand Canyon Education's cash and cash equivalents increased 291.8% to $180.14 million from $45.98 million as on December 31, 2016.
For the reported quarter, the Company's net accounts receivable increased 22.4% to $12.24 million from $10.00 million in Q4 FY17. For the reported quarter, the Company's accounts payable increased 10.9% to $27.52 million from $24.82 million in the fourth quarter of 2017.
In the first nine months of 2017, Grand Canyon Education's cash provided by operating activities increased 26.6% to $269.93 million from $213.27 million in the corresponding period of last year.
During Q3 FY17, the Company's Board of Directors extended the expiration date for its share repurchase program to December 31, 2018.
Outlook
For the full year 2017, the Company expects revenue to be $970.6 million, and operating margin to be 28.5% of revenue. The Company estimates diluted EPS to be $3.89 for FY17.
Stock Performance Snapshot
December 11, 2017 - At Monday's closing bell, Grand Canyon Education's stock declined 1.93%, ending the trading session at $92.14.
Volume traded for the day: 162.26 thousand shares.
Stock performance in the last month – up 1.82%; previous three-month period – up 12.20%; past twelve-month period – up 52.42%; and year-to-date – up 57.64%
After yesterday's close, Grand Canyon Education's market cap was at $4.42 billion.
Price to Earnings (P/E) ratio was at 24.15.
The stock is part of the Services sector, categorized under the Education & Training Services industry. This sector was up 0.3% at the end of the session.
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