Q3 2024 American Public Education Inc Earnings Call Transcript

Nov 12, 2024 / 10:00 PM GMT

Transcript 10-Q8-K

Key Points

Positve

American Public Education Inc (APEI) reported a 1.5% year-over-year increase in revenue to $153 million, marking the fourth consecutive quarter of growth.
Rasmussen University posted its first year-over-year increase in total enrollment since its acquisition by APEI.
APEI's fourth-quarter 2024 outlook is strong, with expected growth in net course registrations and student enrollments across its institutions.
APEI's nursing and healthcare institutions, Rasmussen and Hondros, are showing positive enrollment trends and financial performance improvements.
APEI's American Military University is the top provider of higher education to the U.S. military and veterans using G.I. Bill benefits.

Negative

APEI's total costs and expenses increased by 3.2% compared to the third quarter of 2023, driven by higher compensation costs and professional fees.
APEI's corporate and shared services expenses have increased significantly, impacting overall profitability.
APEI's graduate school revenue declined compared to the prior year, contributing to a loss in that segment.
APEI's EBITA margins at Rasmussen University have been negative, although improvements are expected.
APEI's marketing spend at APUS has increased to spur enrollment growth, which may impact short-term profitability.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

APEI.OQ - American Public Education Inc
Q3 2024 American Public Education Inc Earnings Call
Nov 12, 2024 / 10:00PM GMT

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Presentation
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Unidentified_1 [1]
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Okay.

Thank you for standing by. My name is Pam and I will be your conference operator today. At this time, I would like to welcome everyone to the American Public Education Inc third quarter, 2024 earnings conference call. All lines have been placed on mute to prevent any background noise. After the speaker's remarks, there will be a question and answer session. If you would like to ask a question during this time, simply press star followed by the number one on your telephone keypad. If you would like to withdraw your question, press star one again. Thank you. I would now like to turn the conference over to Brian Prevo investor relations. You may begin.

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