<p><strong>大峡谷教育</strong>（LOPE -0.81%），一家教育服务提供商，于 2 月 19 日发布了第四季度的业绩。公司的盈利和收入均超出分析师的预期。报告显示调整后的每股收益（EPS）为 2.95 美元，略高于预期的 2.94 美元。收入为 2.926 亿美元，超过预测的 2.89 亿美元。总体而言，本季度的业绩表现良好，尽管在其合作院校的传统入学人数略有下降等方面仍需关注。</p>
<table>
<thead>
<tr>
<th>指标</th>
<th>2024 年第四季度</th>
<th>2024 年第四季度分析师预估</th>
<th>2023 年第四季度</th>
<th>% 变化</th>
</tr>
</thead>
<tbody>
<tr>
<td>调整后每股收益</td>
<td>$2.95</td>
<td>$2.94</td>
<td>$2.77</td>
<td>6.5%</td>
</tr>
<tr>
<td>收入</td>
<td>$2.926 亿</td>
<td>$2.89 亿</td>
<td>$2.783 亿</td>
<td>5.1%</td>
</tr>
<tr>
<td>净收入</td>
<td>$8190 万</td>
<td>不适用</td>
<td>$8070 万</td>
<td>1.4%</td>
</tr>
<tr>
<td>营业利润率</td>
<td>34.2%</td>
<td>不适用</td>
<td>35.1%</td>
<td>(90 个基点)</td>
</tr>
</tbody>
</table>
<p>来源：FactSet 提供的分析师预估。</p>
<h2>大峡谷教育概述</h2>
<p>大峡谷教育为院校提供重要的教育支持服务，主要专注于在线和校园项目。其主要合作伙伴是大峡谷大学（GCU），这是一所私立营利性基督教院校，拥有超过 98,000 名在线学生以及在校学生。该院校占据了大峡谷教育合作入学人数的绝大部分。GCE 最近的战略重点是增加技术投资和可扩展性，以增强服务产品并建立竞争优势。在探索新的大学合作关系的同时，保持这些服务的效率对其可持续增长至关重要。</p>
<p>鉴于影响高等教育的监管环境，GCE 已将技术投资作为优先事项。将其校外地点扩展至 45 个，增加了其覆盖范围和规模，同时努力在与大峡谷大学的关系管理与增长之间取得平衡。</p>
<h2>季度亮点</h2>
<p>在第四季度，收入超出预期，主要得益于入学人数增加和每位学生收入提高。净收入为 8190 万美元，而去年同期为 8070 万美元。每学期的总收入受益于学期提前开始和加速护理学学士学位项目的学费上涨。</p>
<p>然而，营业利润率因减值和其他费用下降至 34.2%。尽管如此，技术投资持续改善在线入学人数，增长了 7.1%，抵消了 GCU 传统入学人数的部分下降，后者的在校学生人数从 25,209 人降至 24,552 人。此外，技术和校外项目的提升对入学数据产生了积极影响。</p>
<h2>前景与指导</h2>
<p>大峡谷教育预计第一季度的季度服务收入将在 2.865 亿至 2.875 亿美元之间，营业利润率预期在 30% 至 30.2% 之间。这一指导表明，与前几个季度相比，年同比增长的轨迹更加温和。</p>
<p>对于 2025 年，公司预测服务收入将在 10.75 亿至 10.97 亿美元之间，显示出对其服务持续需求增长的乐观态度。GCE 的战略围绕增强其数字教育产品和多样化合作伙伴关系，以减轻对大峡谷大学的依赖。</p>

大峡谷教育

<p>大峡谷教育（LOPE）公布了强劲的第四季度业绩，调整后的每股收益为 2.95 美元，营收为 2.926 亿美元，均超出分析师预期。尽管传统入学人数略有下降，但在线入学人数增长了 7.1%。公司预计第一季度服务收入将在 2.865 亿至 2.875 亿美元之间，并对 2025 年的增长前景持更为谨慎的态度，预计服务收入将在 10.75 亿至 10.97 亿美元之间。大峡谷教育继续专注于技术投资和扩大合作伙伴关系，以提升其教育服务</p>

<p><strong>Grand Canyon Education</strong>(LOPE -0.81%), an educational services provider, released its results for the fourth quarter on Feb. 19. Both earnings and revenues exceeded analysts' expectations. The company reported adjusted earnings per share (EPS) of $2.95, narrowly topping the projected $2.94. It also recorded revenue of $292.6 million, surpassing the forecasted $289 million. Overall, the quarter's results were favorable, though there were aspects, such as slight declines in traditional enrollments at its partner institutions, that warrant attention.</p>
<div class="lb-trans"><p><strong>大峡谷教育</strong>（LOPE -0.81%），一家教育服务提供商，于 2 月 19 日发布了第四季度的业绩。公司的盈利和收入均超出分析师的预期。报告显示调整后的每股收益（EPS）为 2.95 美元，略高于预期的 2.94 美元。收入为 2.926 亿美元，超过预测的 2.89 亿美元。总体而言，本季度的业绩表现良好，尽管在其合作院校的传统入学人数略有下降等方面仍需关注。</p>
</div><table>
<thead>
<tr>
<th>Metric</th>
<th>Q4 2024</th>
<th>Q4 2024 Analysts' Estimate</th>
<th>Q4 2023</th>
<th>% Change</th>
</tr>
</thead>
<tbody>
<tr>
<td>Adjusted EPS</td>
<td>$2.95</td>
<td>$2.94</td>
<td>$2.77</td>
<td>6.5%</td>
</tr>
<tr>
<td>Revenue</td>
<td>$292.6 million</td>
<td>$289.0 million</td>
<td>$278.3 million</td>
<td>5.1%</td>
</tr>
<tr>
<td>Net income</td>
<td>$81.9 million</td>
<td>N/A</td>
<td>$80.7 million</td>
<td>1.4%</td>
</tr>
<tr>
<td>Operating margin</td>
<td>34.2%</td>
<td>N/A</td>
<td>35.1%</td>
<td>(90 basis points)</td>
</tr>
</tbody>
</table>
<div class="lb-trans"><table>
<thead>
<tr>
<th>指标</th>
<th>2024 年第四季度</th>
<th>2024 年第四季度分析师预估</th>
<th>2023 年第四季度</th>
<th>% 变化</th>
</tr>
</thead>
<tbody>
<tr>
<td>调整后每股收益</td>
<td>$2.95</td>
<td>$2.94</td>
<td>$2.77</td>
<td>6.5%</td>
</tr>
<tr>
<td>收入</td>
<td>$2.926 亿</td>
<td>$2.89 亿</td>
<td>$2.783 亿</td>
<td>5.1%</td>
</tr>
<tr>
<td>净收入</td>
<td>$8190 万</td>
<td>不适用</td>
<td>$8070 万</td>
<td>1.4%</td>
</tr>
<tr>
<td>营业利润率</td>
<td>34.2%</td>
<td>不适用</td>
<td>35.1%</td>
<td>(90 个基点)</td>
</tr>
</tbody>
</table>
</div><p>Source: Analysts' estimates provided by FactSet.</p>
<div class="lb-trans"><p>来源：FactSet 提供的分析师预估。</p>
</div><h2>Overview of Grand Canyon Education</h2>
<div class="lb-trans"><h2>大峡谷教育概述</h2>
</div><p>Grand Canyon Education provides crucial educational support services to institutions, primarily focusing on online and campus-based programs. Its main partnership is with Grand Canyon University (GCU), a private for-profit Christian institution with more than 98,000 online students in addition to its on-campus students. That institution accounts for the large majority of Grand Canyon Education's partner enrollment. GCE's recent strategic focus has been on boosting technological investments and scalability to enhance service offerings and establish a competitive edge. Maintaining the efficiency of these services while exploring new university partnerships remains critical for its sustainable growth.</p>
<div class="lb-trans"><p>大峡谷教育为院校提供重要的教育支持服务，主要专注于在线和校园项目。其主要合作伙伴是大峡谷大学（GCU），这是一所私立营利性基督教院校，拥有超过 98,000 名在线学生以及在校学生。该院校占据了大峡谷教育合作入学人数的绝大部分。GCE 最近的战略重点是增加技术投资和可扩展性，以增强服务产品并建立竞争优势。在探索新的大学合作关系的同时，保持这些服务的效率对其可持续增长至关重要。</p>
</div><p>Given the regulatory environment impacting higher education, GCE has prioritized technological investments. Expanding its off-campus sites to 45 has increased its reach and scale as it strives to balance growth with managing its relationship with Grand Canyon University.</p>
<div class="lb-trans"><p>鉴于影响高等教育的监管环境，GCE 已将技术投资作为优先事项。将其校外地点扩展至 45 个，增加了其覆盖范围和规模，同时努力在与大峡谷大学的关系管理与增长之间取得平衡。</p>
</div><h2>Quarterly Highlights</h2>
<div class="lb-trans"><h2>季度亮点</h2>
</div><p>During the fourth quarter, revenue topped expectations, driven by a combination of increased enrollments and higher revenue per student. Net income totaled $81.9 million compared to $80.7 million in the prior-year period. The total revenue per semester benefited from early semester starts and higher tuition rates for accelerated bachelor of science in nursing programs.</p>
<div class="lb-trans"><p>在第四季度，收入超出预期，主要得益于入学人数增加和每位学生收入提高。净收入为 8190 万美元，而去年同期为 8070 万美元。每学期的总收入受益于学期提前开始和加速护理学学士学位项目的学费上涨。</p>
</div><p>Operating margins, however, decreased to 34.2% due to impairment and other charges. Nonetheless, investments in technology consistently improved online enrollments, which grew by 7.1%, offsetting some declines in traditional enrollment at GCU, where the number of on-campus students dipped to 24,552 from 25,209. Additionally, technology and off-campus program enhancements positively influenced enrollment figures.</p>
<div class="lb-trans"><p>然而，营业利润率因减值和其他费用下降至 34.2%。尽管如此，技术投资持续改善在线入学人数，增长了 7.1%，抵消了 GCU 传统入学人数的部分下降，后者的在校学生人数从 25,209 人降至 24,552 人。此外，技术和校外项目的提升对入学数据产生了积极影响。</p>
</div><h2>Outlook and Guidance</h2>
<div class="lb-trans"><h2>前景与指导</h2>
</div><p>Grand Canyon Education has projected that its quarterly service revenues for the first quarter will range between $286.5 million and $287.5 million, with an operating margin expectation between 30% and 30.2%. This guidance indicates a more measured year-over-year growth trajectory compared to previous quarters.</p>
<div class="lb-trans"><p>大峡谷教育预计第一季度的季度服务收入将在 2.865 亿至 2.875 亿美元之间，营业利润率预期在 30% 至 30.2% 之间。这一指导表明，与前几个季度相比，年同比增长的轨迹更加温和。</p>
</div><p>For 2025, the company forecasts service revenue between $1.075 billion and $1.097 billion, showcasing optimism about continued demand growth for its services. GCE's strategy revolves around enhancing its digital education offerings and diversifying its partnerships to mitigate its dependence on Grand Canyon University.</p>
<div class="lb-trans"><p>对于 2025 年，公司预测服务收入将在 10.75 亿至 10.97 亿美元之间，显示出对其服务持续需求增长的乐观态度。GCE 的战略围绕增强其数字教育产品和多样化合作伙伴关系，以减轻对大峡谷大学的依赖。</p>
</div>

大峡谷教育的表现超出预期