Slide 1: Fourth Quarter 2017 Investor Conference Call
CAREER EDUCATION CORPORATION FOURTH quarter 2017 investor conference call February 21, 2018 Ashish Ghia Vice President & Interim Chief Financial Officer Todd Nelson President & Chief Executive Officer Exhibit 99.2
Slide 2: Forward-Looking Statements
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: 2018 First Quarter & Full Year Outlook
2018 First Quarter & Full Year Outlook Estimated outlook is based on assumptions listed on slide 6 Unused space charges represent the net present value of remaining lease obligations for vacated space less an estimated amount for sublease income See slides 7 - 9 for a GAAP to non-GAAP reconciliation
Slide 4: 2018 First Quarter & Full Year Outlook, cont'd
2018 First Quarter & Full Year Outlook, cont’d University Group and Corporate Teach-Outs (4) Estimated 2018 amounts are based on assumptions listed on slide 6 Unused space charges represent the net present value of remaining lease obligations for vacated space less an estimated amount for sublease i
Slide 5: Total Company Operating Income (Loss) Trends
University Growth Consolidation and Inflection Point Teach-Out Campuses TOTAL COMPANY OPERATING INCOME (LOSS) TRENDS Total Company Results Total Company Outlook 2016 includes $32M of legal settlements related to AIU 2017 includes $6.5M of legal reserves related to teach-out campuses Estimated 2018 a
Slide 6: Outlook Assumptions
Outlook Assumptions Achievement of the outlook included within these slides is based on the following key assumptions and factors, among others: Prospective student interest in our programs continues to trend in line with recent experiences Initiatives and investments in student-serving processes an
Slide 7: Reconciliation of GAAP to Non-GAAP Items – Adjusted Operating Income (Loss)
Reconciliation of GAAP to Non-GAAP Items – Adjusted Operating Income (Loss) CAREER EDUCATION CORPORATION AND SUBSIDIARIES **should match the exhibits table UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP ITEMS (1) (In thousands) For The Quarter Ended December 31, For the Year Ended December 31, ACTUAL
Slide 8: Reconciliation of GAAP to Non-GAAP Items – Adjusted Operating Income (Loss) cont'd
Reconciliation of GAAP to Non-GAAP Items – Adjusted Operating Income (Loss) cont’d CAREER EDUCATION CORPORATION AND SUBSIDIARIES UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP ITEMS (1) (In millions) For the Quarter Ending March 31, For the Year Ending December 31, ACTUAL OUTLOOK ACTUAL OUTLOOK 2017 2
Slide 9: Reconciliation of GAAP to Non-GAAP Items – Adjusted Operating Income (Loss) cont'd
Reconciliation of GAAP to Non-GAAP Items – Adjusted Operating Income (Loss) cont’d (1) The Company believes it is useful to present non-GAAP financial measures which exclude certain significant items as a means to understand the performance of its operations. As a general matter, the Company uses no