Grand Canyon Education Q3 rev $208.7M (+0.9%); net income falls 37% to $30.0M; $200M buyback added

Grand Canyon Education, Inc.

2022-Q3 EPS reported $3.47 revenue$652,606,000

Service revenue $208.7M (+0.9% YoY); operating income $35.5M (17.0% margin vs 21.9%).
GAAP diluted EPS $0.96; adjusted diluted EPS $1.02; net income $30.0M (-37% YoY).
GCU online enrollments fell 4.7% YoY; traditional ground enrollments rose 8.0%.
Board authorized additional $200M share repurchase, bringing aggregate to $1.845B; $203.6M remains.
Q4 2022 guidance: revenue $255.5-256.5M, diluted EPS $2.18-2.19; FY $908.1-909.1M, EPS $5.61-5.62.

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