DeVry, Inc. (NYSE:DV) delivered a profit and beat Wall Street’s expectations, BUT came up short on beating the revenue expectation. The revenue miss is a negative sign to shareholders seeking high growth out of the company.
DeVry, Inc. Earnings Cheat Sheet
Results: Adjusted Earnings Per Share increased 14.89% to $0.54 in the quarter versus EPS of $0.47 in the year-earlier quarter.
Revenue: Decreased 5.12% to $480 million from the year-earlier quarter.
Actual vs. Wall St. Expectations: DeVry, Inc. reported adjusted EPS income of $0.54 per share. By that measure, the company beat the mean analyst estimate of $0.40. It missed the average revenue estimate of $481.42 million.
Quoting Management: “We are responding to a challenging environment by executing a turnaround plan at DeVry University and Carrington including aligning our cost structure, regaining enrollment growth and making targeted investments to drive future growth,” said Daniel Hamburger, DeVry’s president and chief executive officer. “Our formula of quality plus diversification equals growth is helping us as we work through the cyclical weakness and we remain confident in the opportunities for long-term growth in career-oriented education.”
Key Stats (on next page)…