Perdoceo Edu | 8-K: FY2026 Q1 Revenue Beats Estimate at USD 221.74 M

Revenue: As of FY2026 Q1, the actual value is USD 221.74 M, beating the estimate of USD 218.43 M.

EPS: As of FY2026 Q1, the actual value is USD 0.85, beating the estimate of USD 0.79.

EBIT: As of FY2026 Q1, the actual value is USD 58.11 M.

First Quarter 2026 Financial and Operational Highlights

Perdoceo Education Corporation’s total revenue for the first quarter ended March 31, 2026, increased by 4.1% to $221.7 million, up from $213.0 million in the prior year quarter. Revenue for the Colorado Technical University (CTU) segment increased by 4.0% to $120,756 thousand in 2026 from $116,074 thousand in 2025. The American InterContinental University System (AIUS) segment’s revenue increased by 0.4% to $57,816 thousand in 2026 from $57,564 thousand in 2025. Revenue for the University of St. Augustine for Health Sciences (USAHS) segment increased by 9.8% to $43,008 thousand in 2026 from $39,183 thousand in 2025. Corporate and Other revenue was $163 thousand in 2026, compared to $183 thousand in 2025.

Operating income for the quarter increased by 22.0% to $63.1 million, compared to the prior year quarter. Total operating income was $63,122 thousand in 2026, up from $51,727 thousand in 2025. CTU’s operating income increased by 8.1% to $50,543 thousand in 2026 from $46,760 thousand in 2025. AIUS operating income increased by 12.0% to $12,564 thousand in 2026 from $11,221 thousand in 2025. USAHS operating income was $6,307 thousand in 2026, compared to - $330 thousand in 2025. Corporate and Other operating income was - $6,292 thousand in 2026, compared to - $5,924 thousand in 2025.

Adjusted operating income increased by 14.1% to $72.5 million for the quarter ended March 31, 2026, compared to $63.5 million in the prior year quarter, reaching $72,469 thousand in 2026 from $63,534 thousand in 2025. Depreciation and amortization was $9,347 thousand in 2026, compared to $11,807 thousand in 2025.

Net income for the quarter was $54.0 million, compared to $43.7 million for the prior year quarter, specifically $53,951 thousand in 2026, up from $43,688 thousand in 2025.

Net cash provided by operating activities was $69.4 million for the quarter ended March 31, 2026, an increase of 6.5% compared to $65.1 million in the prior year quarter. Capital expenditures were $1,740 thousand in 2026, compared to $1,737 thousand in 2025. Cash, cash equivalents, restricted cash, and available-for-sale short-term investments totaled $680.0 million as of March 31, 2026, an increase from $643.5 million as of December 31, 2025.

Total student enrollments increased by 1.1% to 48,740 as of March 31, 2026, compared to 48,190 as of March 31, 2025. CTU enrollments were 34,050, AIUS enrollments were 10,320, and USAHS enrollments were 4,370.

Perdoceo Education Corporation’s board of directors declared a quarterly dividend of $0.15 per share on May 6, 2026, payable on June 12, 2026. The company expects quarterly dividend payments to be an integral and growing part of its balanced capital allocation strategy, which includes investments in student enrollment, support, and technology projects, as well as evaluating future acquisitions and share repurchases.

Outlook

For the second quarter ending June 30, 2026, Perdoceo Education Corporation projects operating income between $53.6 million and $54.6 million, and adjusted operating income between $63.0 million and $64.0 million. For the full year ending December 31, 2026, operating income is expected to range from $217.1 million to $226.1 million. Adjusted operating income for the full year is projected to be between $254.0 million and $263.0 million.