Earnings Review and Free Research Report: Grand Canyon Education’s Q2 Top-line Rise 14.1% Y-o-Y, Beating Market Expectations
Research Desk Line-up: Laureate Education Post Earnings Coverage
LONDON, UK / ACCESSWIRE / August 18, 2017 /Pro-Trader Daily has just published a free post-earnings coverage on Grand Canyon Education, Inc. (NASDAQ: LOPE), which can be viewed by registering at http://protraderdaily.com/optin/?symbol=LOPE, following the Company's announcement of its financial results on August 01, 2017, for the second quarter fiscal 2017 (Q2 FY17). The Phoenix, Arizona-based Company's net revenue grew 14.1% y-o-y; outperforming market consensus estimates. Our daily stock reports are accessible for free, and with those to look forward today you also will be signing up for a complimentary member's account at:
Get more of our free earnings reports coverage from other constituents of the Education & Training Services industry. Pro-TD has currently selected Laureate Education, Inc. (NASDAQ: LAUR) for due-diligence and potential coverage as the Company announced on August 08, 2017, its financial results for Q2 and six months which ended on June 30, 2017. Register for a free membership today, and be among the early birds that get access to our report on Laureate Education when we publish it.
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Grand Canyon Education's net revenue rose to $218.30 million during Q2 FY17 from $191.28 million recorded at the end of Q2 FY16. Net revenue numbers also topped market consensus estimates of $213.08 million for Q2 FY17. Furthermore, excluding the impact of the shift of residential traditional campus start days, the Company's revenue growth would have been 11.7% for the reported quarter.
The for-profit education Company's net income came in at $39.85 million, or $0.83 per diluted share, for Q2 FY17 up from $27.63 million, or $0.59 per diluted share, in prior year's comparable quarter. Meanwhile, Wall Street had expected the Company to post net income of $0.68 per share for the reported quarter.
In Q2 FY17, Grand Canyon Education's total costs and expenses increased to $163.21 million from $146.53 million in Q2 FY16. The Company reported operating income of $55.09 million in Q2 FY17, rising 23.1% from $44.75 million in Q2 FY16. The Company's operating margin for Q2 FY17 was 25.2% compared to 23.4% in the previous year's comparable quarter. Additionally, adjusted EBITDA increased 23.3% to $72.08 million in Q2 FY17 from $58.44 million in Q2 FY16.
The Company's end-of-period enrollment increased 10.5% to 74,485 as on June 30, 2017, from 67,424 as on June 30, 2016. The on-ground enrollment was also up by 10.8% to 6,015 as on June 30, 2017, from 5,430 at June 30, 2016. Furthermore, online enrollment grew 10.4% to 68,470 as on June 30, 2017, from 61,994 at June 30, 2016.
Cash Matters and Balance Sheet
Grand Canyon Education generated $133.66 million as cash from operating activities in the reported period, up from $112.46 million in Q2 FY16. The Company ended the quarter with cash and cash equivalents balance of $66.28 million versus $45.98 million as on December 31, 2016. Furthermore, the Company had notes payable, less current portion amounting to $63.27 million as on June 30, 2017, compared to $66.62 million as on December 31, 2016.
In its guidance for full year FY17, the Company expects net revenue of $964.4 million and forecasts operating margin of 28.2%. The Company also expects diluted EPS of $3.82 for full year FY17.
For Q3 FY17, the Company anticipates net revenue of $231.0 million, while operating margin is anticipated to be at 24.0%. Furthermore, diluted EPS is forecasted to be $0.75 for Q3 FY17.
The Company also provided net revenue outlook of $266.9 million for Q4 FY17; with operating margin of 31.7%. Diluted EPS is anticipated at $1.08 for Q4 FY17.
Grand Canyon Education's share price finished yesterday's trading session at $79.36, slightly up 0.27%. A total volume of 235.57 thousand shares have exchanged hands. The Company's stock price skyrocketed 3.85% in the last three months, 37.95% in the past six months, and 86.42% in the previous twelve months. Additionally, the stock soared 35.77% since the start of the year. Shares of the Company have a PE ratio of 21.92 and currently have a market cap of $3.82 billion.
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