Perdoceo Education Corporation (NASDAQ:PRDO) 2024 First Quarter Financial Report Transcript May 1, 2024
Perdoceo Educational Corporation exceeded profit expectations. Reported EPS was $0.59, compared to estimate of $0.53. PRDO wasn't among the 30 most popular stocks among hedge funds at the end of the third quarter (see the details here).
operator: Thank you for your cooperation. My name is Kathleen. She will be the conference operator today. We would like to welcome you to Perdoseo Educational Corporation's 2024 First Quarter Financial Results Conference Call. All lines are set to mute throughout the presentation to prevent background noise. thank you. I would like to transfer your call to Sam Gibbons, Investor Relations. Please move on.
Sam Gibbons: Thank you, Kathleen. Hello everyone. Thank you for participating in our 2024 first quarter financial results briefing. Today's call response is as follows: Todd Nelson, President and Chief Executive Officer. Ashish Gir Chief Financial Officer; This conference call is being webcast live within the Investor Relations section of perdoceoed.com. A replay of the webcast will also be available on our site. You can always contact Alpha IR Group for investor relations support. We would like to remind you that this afternoon's financial results announcement and today's statements contain forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934. These statements are based on assumptions made by Perdoceo Education and information currently available and are subject to risks and risks. uncertainties that may cause actual future results, performance, business prospects and opportunities to differ materially from those expressed or implied by these statements;
These risks and uncertainties include, but are not limited to, the factors identified in Perdoceo's most recent Annual Report on Form 10-K and subsequent filings with the Securities and Exchange Commission. yeah. Except as expressly required by securities laws, we undertake no obligation to update these factors or forward-looking statements to reflect future events, developments, changes in circumstances or for any other reason. We do not owe. Additionally, today's remarks refer to non-GAAP financial measures, which are intended to supplement, not replace, the most directly comparable GAAP measures. The earnings release accompanying today's conference call, which includes financial and other quantitative information and reconciliations of GAAP and non-GAAP measures discussed today, is available on the Investor Relations page of the company's website .
I would now like to turn the phone over to Todd Nelson. Todd?
Todd Nelson: Thank you, Sam. Hello everyone. Thank you for participating in our 2024 first quarter financial results briefing. I will discuss some of the key highlights of the first quarter, and then Ashish will provide a more detailed review of our operating and financial performance and provide an updated outlook for the year. But before we begin, we would like to thank our faculty, student support staff, and all other employees for their continued dedication and hard work and service to and education of our students. We ended 2023 with strong results in terms of student retention and engagement. This trend continued in the first quarter. As a result, our first quarter operating results exceeded the expectations discussed in our previous earnings call, primarily due to better-than-expected student engagement trends.
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