Perdoceo Education Corporation · NASDAQ:PRDO
Perdoceo Education — Career Education — Q1 2017 Earnings Presentation
9 slides from Perdoceo Education's earnings presentation, May 3, 2017
Slide 1: First Quarter 2017 Investor Conference Call
CAREER EDUCATION CORPORATION FIRST quarter 2017 investor conference call MAY 3, 2017 A.J. Cederoth Senior Vice President & Chief Financial Officer Ashish Ghia Vice President, Finance Todd Nelson President & Chief Executive Officer Exhibit 99.2
Slide 2: Cautionary 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: Outlook Update – Analysis of Adjusted Operating Income
Outlook Update – Analysis of Adjusted Operating Income Estimated outlook is based on assumptions listed on slide 6 See slides 7-9 for a GAAP to non-GAAP reconciliation of adjusted operating income (loss) Unused space charges represent the net present value of remaining lease obligations for vacated
Slide 4: Outlook Update – Analysis of Adjusted Operating Income and Cash
2017 outlook of $150M-$160M includes payments for settlements recorded during 2016 Cash balances are expected to increase in 2018 as lease obligations start to ramp down, working capital trends improve and we complete the teach-out strategy Outlook Update – Analysis of Adjusted Operating Income Esti
Slide 5: 2017 Quarterly Outlook – University Group & Corporate
2017 Quarterly Outlook – University Group & Corporate Revenue is higher vs prior year – primarily driven by: Growth in total enrollments within University Group Impact of the new academic calendar at AIU – timing impact shifted revenue from Q4 of 2016 to Q1 of 2017 Continued right-sizing of the orga
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: Modest total enrollment growth within the University Group while achieving the intended University Group efficiencies Teach-outs to progress as expected an
Slide 7: Reconciliation of GAAP to Non-GAAP Items
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) ACTUAL OUTLOOK For the Quarter Ended March 31, For the Quarter Ended June
Slide 8: Reconciliation of GAAP to Non-GAAP Items cont’d
Reconciliation of GAAP to Non-GAAP Items – Adjusted Operating Income (Loss) cont’d CAREER EDUCATION CORPORATION AND SUBSIDIARIES **should match the exhibits table UNAUDITED RECONCILIATION OF GAAP TO NON-GAAP ITEMS (1) (In thousands) ACTUAL OUTLOOK For the Quarter Ended March 31, For the Quarter Ende
Slide 9: Reconciliation of GAAP to Non-GAAP Items 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