Overview

* Perdoceo Q2 revenue rises 25.7% yr/yr, beating analysts' expectations

* Adjusted EPS for Q2 beats consensus, reaching $0.67

* Co announces 15.4% dividend increase and $75 mln share buyback

Outlook

* Perdoceo expects Q3 operating income between $46.8M and $48.8M

* Company projects full-year operating income of $187.8M to $193.8M

* Perdoceo forecasts Q3 adjusted EPS of $0.60 to $0.62

* Company anticipates full-year adjusted EPS of $2.48 to $2.55

Result Drivers

* STUDENT ENROLLMENT - Total student enrollments rose 17.4%, driven by increases at CTU and AIUS, and the acquisition of St. Augustine

* REVENUE GROWTH - Revenue increased 25.7% to $209.6 mln, attributed to higher enrollments and acquisition impact

* RETENTION AND ENGAGEMENT - Student retention and engagement at multi-year highs, supporting financial performance, per CEO Todd Nelson

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Beat $209.60 $206.90

Revenue mln mln (1

Analyst)

Q2 Beat $0.67 $0.65 (1

Adjusted Analyst)

EPS

Q2 EPS $0.62

Q2 Net $41 mln

Income

Q2 $61.50

Adjusted mln

Operatin

g Income

Q2 Capex $2.75

mln

Analyst Coverage

* The one available analyst rating on the shares is "strong buy"

* The average consensus recommendation for the miscellaneous educational service providers peer group is "buy."

* Wall Street's median 12-month price target for Perdoceo Education Corp ( PRDO ) is $40.00, about 28.4% above its July 30 closing price of $28.65

* The stock recently traded at 12 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release:

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)