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Legacy Education Inc. (LGCY)
:LGCY
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Earnings Data
Report Date
―TBA Not Confirmed
Period Ending
―Consensus EPS Forecast
―Last Year’s EPS
―Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 14, 2024
|% Change Since: 50.54%
|Next Earnings Date:Oct 07, 2024
Earnings Call Sentiment|Positive
The earnings call reflected a strong positive outlook for Legacy Education, with significant growth in revenue, enrollment, and net income. The company successfully launched new programs and completed an IPO. While some seasonal weakness is expected, the overall performance and strategic initiatives indicate robust growth and financial health.Company Guidance
During Legacy Education's First Quarter Fiscal 2025 Earnings Call, the company reported significant financial growth and provided optimistic guidance for future performance. Revenue for the quarter reached $14 million, marking a 35.1% increase from the previous year, driven by a 23.3% rise in new student enrollments and a strategic shift towards higher-margin programs. The net income was reported at $2.1 million, reflecting a 95% increase from the prior year, while diluted earnings per share improved to $0.21 from $0.11. The active student population grew by 25.4% to 2,539, underscoring the success of Legacy's educational offerings. The company also highlighted its expansion into new programs, such as Dental Assisting and Surgical Technology, and the transition of its learning management system to Blackboard Learn Ultra. With cash reserves exceeding $21 million and working capital above $23 million, Legacy Education is well-positioned for continued growth, supported by strategic investments in technology, partnerships, and program expansion.Revenue Growth
Revenue increased 35.1% year-over-year to $14 million, driven by robust student enrollment and a shift towards higher-margin programs.
Record Enrollment
New student starts rose 23.3% year-over-year to 773, marking the largest enrollment quarter in the company's history.
Significant Increase in Net Income
Net income for the quarter was $2.1 million, a 95% increase from $1.1 million in the prior year quarter.
Expansion of Program Offerings
Received approvals for new programs including Dental Assisting, Sterile Processing, Surgical Technology, and Pharmacy Technicians.
Strong Financial Position
The company has cash in excess of $21 million and working capital exceeding $23 million.
IPO Success
Successfully completed an IPO raising $11.5 million and issued 2.875 million shares.
Operational Improvements
Educational services expense decreased as a percentage of revenue from 55.3% to 51.4% due to operating efficiencies.
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LGCY Earnings History
Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release | Slides | Play Transcript |
|---|---|---|---|---|---|---|---|
| Oct 07, 2024 | 2024 (Q4) | 0.094 | 123.40% (+0.12) | ― | ― | ||
| Nov 14, 2024 | 2025 (Q1) | 0.094 | ― | ― | ― |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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LGCY Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 14, 2024 | $5.60 | $6.52 | +16.43% |
| Oct 07, 2024 | $4.87 | $5.07 | +4.11% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Legacy Education Inc. (LGCY) report earnings?
Currently, no data Available
What is Legacy Education Inc. (LGCY) earnings time?
Currently, no data Available
Where can I see when companies are reporting earnings?
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What companies are reporting earnings today?
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What is LGCY EPS forecast?
Currently, no data Available
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