Corinthian Colleges Earnings: Here’s Why Investors are Ambivalent Now
Corinthian Colleges Inc. (NASDAQ:COCO) delivered a profit and missed Wall Street’s expectations, AND came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
Corinthian Colleges Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share decreased 73.33% to $0.04 in the quarter versus EPS of $0.15 in the year-earlier quarter.
Revenue: Decreased 5.63% to $400.17 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: Corinthian Colleges Inc. reported adjusted EPS income of $0.04 per share. By that measure, the company missed the mean analyst estimate of $0.05. It missed the average revenue estimate of $406.24 million.
Quoting Management: “During the third quarter we continued to focus on student outcomes and initiatives to increase our student population, improve operational efficiency, and diversify revenue,” said Jack Massimino, Corinthian’s chairman and chief executive officer. “Excluding the impact of losing Ability-to-Benefit (ATB) students, our new enrollments were up slightly in the quarter and our student population has been stabilizing relative to our peers over the last few quarters.”
Key Stats (on next page)…