Perdoceo Education Corporation · NASDAQ:PRDO
Perdoceo Education — Career Education — Q3 2016 Earnings Presentation
11 slides from Perdoceo Education's earnings presentation, Nov 3, 2016
Slide 1: Third Quarter 2016 Investor Conference Call
CAREER EDUCATION CORPORATION THIRD quarter 2016 investor conference call NOVEMBER 3, 2016 A.J. Cederoth Chief Financial Officer Ashish Ghia Vice President, Finance Todd Nelson President & Chief Executive Officer Exhibit 99.2
Slide 2: Cautionary Statement
This presentation contains “forward-looking statements,” as defined in Section 21E of the Securities Exchange Act of 1934, as amended, that reflect our current expectations regarding our future growth, results of operations, cash flows, performance and business prospects and opportunities, as well a
Slide 3: Strategic Transformation: Future State
Strategic Transformation: Future State Strong institutions with focus on student retention & outcomes Investing in technology and student services Operating efficiencies Teach - outs Keeping our commitments to students while transforming the Company Today Future
Slide 4: Financial Results – Consolidated CEC
Financial Results – Consolidated CEC Please refer to slides 9 - 11 at the end of this presentation for a reconciliation of GAAP to non-GAAP amounts. Cash includes cash, cash equivalents, restricted cash and available-for-sale short-term and long-term investments, net of borrowings.
Slide 5: Financial Results – University Group
Financial Results – University Group New student enrollments were positively impacted by a change to how the Company records certain cancelled students. Excluding the impact of this change new student enrollments would have decreased 4.8% for CTU, increased 2.3% for AIU and decreased 2.2% for the Un
Slide 6: Financial Results - Culinary Arts & Transitional
Financial Results - Culinary Arts & Transitional PHASE DOWN OF CAMPUSES IN TEACH-OUT Total enrollments are disclosed as of the end of each period presented. Teach-out dates are estimated based on current student enrollment and are subject to change.
Slide 7: Outlook Update
Outlook Update Estimates are based on updated assumptions listed on slide 8. Forward-looking adjusted EBITDA expectations are estimated on a basis consistent with slides 9 - 11. Net income, which is the most directly comparable GAAP measure to consolidated adjusted EBITDA, may not follow the same tr
Slide 8: Outlook Assumptions
Outlook Assumptions Achievement of the strategic direction and its estimated results included within these slides are based on the following updated key assumptions and factors, among others: Flat-to-modest total enrollment growth within the University Group while achieving the intended University G
Slide 9: Reconciliation Non-GAAP Items
Reconciliation of GAAP to Non-GAAP Items
Slide 10: Reconciliation Non-GAAP Items – con't
Reconciliation of GAAP to Non-GAAP Items – con’t
Slide 11: Reconciliation Non-GAAP Items – con't
Reconciliation of GAAP to Non-GAAP Items – con’t