LOPE - Grand Canyon Education GAAP EPS of $1.94 misses by $0.03 revenue of $250.12M beats by $0.38M

2023-05-02 18:11:38 ET

• Grand Canyon Education press release ( NASDAQ: LOPE ): Q1 GAAP EPS of $1.94 misses by $0.03 .
• Revenue of $250.12M (+2.5% Y/Y) beats by $0.38M .

• 2023 Outlook

• Q2 2023:

• The diluted EPS guidance includes non-cash amortization of intangible assets net of taxes of $1.6 million, which equates to a $0.05 impact on diluted EPS.

• Service revenue of between $206.0 million and $209.0 million;

• Operating margin of between 14.8% and 15.7%;

• Effective tax rate of 24.9%;

• Diluted EPS of between $0.79 and $0.85; and 30.4 million diluted shares.

• Q3 2023:

  Service revenue of between $215.5 million and $223.0 million;

  Operating margin of between 15.8% and 18.1%;

  Effective tax rate of 24.9%;

  Diluted EPS of between $0.88 and $1.04; and

  30.1 million diluted shares.

  The diluted EPS guidance includes non-cash amortization of intangible assets net of taxes of $1.6 million, which equates to a $0.05 impact on diluted EPS.

• Q4 2023:

  Service revenue of between $268.5 million and $283.0 million;

  Operating margin of between 33.5% and 36.4%;

  Effective tax rate of 24.0%;

  Diluted EPS of between $2.33 and $2.66; and

  29.8 million diluted shares.

  The diluted EPS guidance includes non-cash amortization of intangible assets net of taxes of $1.6 million, which equates to a $0.05 impact on diluted EPS.

• Full Year 2023:

  Service revenue of between $940.1 million and $965.1 million;

  Operating margin of between 24.4% and 26.0%;

  Effective tax rate of 23.8%;

  Diluted EPS between $5.94 and $6.49; and

  30.2 million diluted shares.

  The diluted EPS guidance includes non-cash amortization of intangible assets net of taxes of $6.4 million, which equates to a $0.21 impact on diluted EPS.

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