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American Public Education slides 17.1% on weak guidance

Aug. 07, 2019 10:21 AM ETAPEIBy: Pranav Ghumatkar, SA News Editor1 Comment
  • American Public Education (APEI -17.1%) reports Q2 revenue decrease of 3.1% Y/Y to $70.6M.
  • Net course registrations at APUS declined by 1% Y/Y to 75,900.
  • Net course registrations by new students decreased by ~2% Y/Y to 9,300.
  • APUS student enrollment decreased by 1% Y/Y to ~80,300 students.
  • New student enrollment at HCN decreased by ~35% Y/Y to 315.
  • Total student enrollment at HCN declined 24% Y/Y to 1,540.
  • Cash and equivalents were ~$220.8M & Capex were ~$3M.
  • 3Q19 Outlook: Decline in revenues of 11%-7% Y/Y; EPS (loss) of $0.02-0.03; At APUS, net course registrations by new students expected to decrease 17%-12% Y/Y and total net course registrations decrease ~10%-5% Y/Y; At HCN, both total and new student enrollment decreased ~29% Y/Y.
  • Previously: American Public Education EPS beats by $0.01, beats on revenue (Aug. 06 2019).

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