Grand Canyon Education Reports Strong Fourth Quarter 2024 Results and Expansion of Stock Repurchase Program

Grand Canyon Education, Inc., a leading education services company operating internationally, announced its financial results for the quarter ended December 31, 2024. The company reported a service revenue of $292.6 million, marking a 5.1% increase from the same period in the prior year. This growth was predominantly attributed to higher enrollments at Grand Canyon University, the company’s largest university partner, and increased revenue per student.

Additionally, the company’s operating income for the quarter was $100.0 million, showing a 2.3% increase from the previous year. Net income for the quarter stood at $81.9 million, reflecting a 1.4% increase compared to the same period in 2023. The adjusted EBITDA for the fourth quarter of 2024 increased by 5.1% to $116.6 million.

Furthermore, Grand Canyon Education announced an expansion in its existing stock repurchase program by $200.0 million on January 29, 2025. This decision was approved by the Board of Directors and brings the total authorization for share repurchases to $2,245.0 million since the program’s initiation. The current expiry date for the repurchase program is March 1, 2026.

Looking ahead to 2025, the company provided a detailed outlook for the year, including projections for service revenues, operating margins, effective tax rates, diluted earnings per share, and expected number of diluted shares. The forward-looking statements highlighted expectations for continued growth and operational efficiency throughout the year.

Grand Canyon Education will be hosting a conference call on February 19, 2025, at 4:30 p.m. Eastern Time to discuss the fourth quarter results and the outlook for the full year 2025. Interested parties are encouraged to participate in the call to gain valuable insights into the company’s performance and future prospects.

As of December 31, 2024, Grand Canyon Education’s strong financial position was demonstrated by its total assets amounting to $1.018 billion, showcasing a healthy balance sheet.

In conclusion, Grand Canyon Education’s solid fourth quarter performance, strategic initiatives, and expansion of the stock repurchase program indicate a positive trajectory for the company, positioning it for continued success in the education services sector. Investors and stakeholders can look forward to further updates during the upcoming conference call session.

Please note that all financial information provided in this article is extracted from the official 8-K SEC Filing of Grand Canyon Education for transparency and accuracy.

This news article is not a recommendation to buy or sell securities and is for informational purposes only. Investors should perform their own research or consult with a financial advisor before making investment decisions.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Grand Canyon Education’s 8K filing here.

About Grand Canyon Education

Grand Canyon Education, Inc provides education services to colleges and universities in the United States. It offers technology services, including learning management system, internal administration, infrastructure, and support services; academic services, such as program and curriculum, faculty and related training and development, class scheduling, and skills and simulation lab sites; and counseling services and support services comprising admission, financial aid, and field experience and other counseling services.