Strong Financial Performance
Net income for the quarter was $41 million or $0.62 per diluted share, exceeding expectations. Adjusted earnings per diluted share were $0.67, marking an 11.7% growth in operating income and a 25.4% increase in adjusted operating income.
Enrollment Growth
Total enrollment grew by 17% compared to the prior year quarter. CTU and AIUS experienced 7% growth each, supported by high student retention and engagement.
Successful Acquisition of St. Augustine
The acquisition of St. Augustine contributed $36.7 million to revenue and showed positive enrollment trends, with expectations for further growth in the fall term.
Increased Shareholder Returns
The company repurchased 1.6 million shares for $46 million and increased the quarterly dividend from $0.13 to $0.15 per share, reflecting a commitment to shareholder returns.
Revenue Growth
Revenue for the second quarter was $209.6 million, a 26% increase compared to the prior year. This was supported by the St. Augustine acquisition and enrollment growth at CTU and AIUS.
Positive Outlook for 2025
The company raised its full-year adjusted operating income outlook to $230-$236 million, up from $188.9 million in 2024, with expectations for continued enrollment growth and strong financial performance.