The following is a summary of the Perdoceo Education Corporation (PRDO) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Perdoceo Education Corporation reported a Q1 net income of $39.4 million or $0.59 per diluted share.

• Revenue for Q1 was $168.3 million, a decrease of 14% as compared to Q1 2023, mainly due to operational changes in the academic calendar.

• Total student enrollments grew approximately 28.5% at CTU compared to the prior year, while AIUS experienced a decline in total enrollments by 22.9%.

• The company ended the quarter with $642.4 million of cash, cash equivalents, restricted cash and available for sale short-term investments.

Business Progress:

• There is a strong level of student retention and engagement at both CTU and AIUS, which is expected to continue through 2024.

• The company has adjusted marketing strategies using data analytics to identify prospective students more likely to succeed at their universities.

• There is an ongoing focus on corporate engagement programs with significant investments have been made in staff and technology to grow these programs effectively.

• The company has prioritized organic project investments, especially in technology, and maintaining a strong balance sheet in its capital allocation strategy, and also considers strategies to enhance stockholder value, including acquisitions.

More details: Perdoceo Education IR

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