Nov 4, 4:05 PM ET
Grand Canyon Education reported third quarter 2026 service revenue of $267.3 million, up 2.4%, and GAAP diluted EPS of $1.67 versus $0.58 a year earlier. The prior-year quarter included a $35.0 million litigation settlement, and adjusted diluted EPS was $1.77 versus $1.78 while adjusted EBITDA fell 3.2%, so the profit gain is largely a comparison effect. The board also approved a $355.0 million increase to its buyback authorization, and the company issued fourth quarter and full-year 2026 guidance.
- Service revenue was $267.3 million, up from $261.1 million; university partner enrollments rose 5.2% to 145,270.
- Diluted EPS was $1.67 versus $0.58; adjusted diluted EPS was $1.77 versus $1.78, and the prior-year quarter included a $35.0 million litigation settlement.
- Adjusted EBITDA decreased 3.2% to $73.5 million from $75.9 million.
- On October 28, 2026 the board approved a $355.0 million buyback increase; $394.5 million remained available as of November 2, 2026. Q4 2026 diluted EPS guidance is $3.57 to $3.61.
Read the filing on SEC.gov ↗
Oct 1, 4:15 PM ET
On September 28, 2026, Grand Canyon Education entered a five-year, $100.0 million senior secured revolving credit facility with Zions Bancorporation, N.A. dba National Bank of Arizona as administrative agent. The company intends to use borrowings mainly to fund stock repurchases and for general corporate purposes, and the facility carries covenants and default triggers that shareholders should note, including a delisting event of default.
- $100.0 million five-year senior secured revolving facility dated September 28, 2026; includes a $10.0 million letter of credit sublimit
- Borrowings intended primarily to fund repurchases of common stock under the board-approved repurchase program
- Interest at one-month Term SOFR plus a margin of 1.50% to 2.00% based on leverage; quarterly unused fee of 0.0625%
- Covenants require minimum fixed charge coverage of 1.10 to 1.00 and maximum leverage of 2.00 to 1.00; capital expenditures capped at $50.0 million per fiscal year
Read the filing on SEC.gov ↗
Aug 24, 4:05 PM ET
Grand Canyon Education said its Chief Financial Officer, Daniel E. Bachus, was placed on paid administrative leave effective August 21, 2026, in connection with an ongoing governmental investigation involving a non-employee third party's trades in Company stock. The Company said the leave is not related to its financial statements or accounting, and that it is not a focus of the investigation. The board named Lori Browning, its Chief Accounting Officer, as interim CFO and interim principal financial officer.
- Daniel E. Bachus, CFO, placed on paid administrative leave effective August 21, 2026
- Lori Browning, SVP & Controller – Chief Accounting Officer, appointed interim CFO and interim principal financial officer effective August 21, 2026
- Company says the leave is not due to financial statement or accounting issues and that it is not a focus of the government investigation
- Company has engaged outside counsel, is conducting its own investigation and is cooperating with the government
Read the filing on SEC.gov ↗
Jul 30, 4:05 PM ET
Grand Canyon Education reported second quarter 2026 service revenue of $264.0 million, up 6.7%, with operating income up 12.3% to $58.2 million and diluted EPS of $1.75 versus $1.48 a year earlier. The company also issued third quarter 2026 diluted EPS guidance of $1.68 to $1.72 and full-year 2026 guidance of $9.93 to $10.07, while unrestricted cash and investments fell to $274.5 million from $300.1 million at year-end 2025, largely due to share repurchases.
- Service revenue of $264.0 million, up 6.7% from $247.5 million; university partner enrollments rose 7.6% to 126,231 at June 30, 2026
- Diluted EPS of $1.75 versus $1.48; operating margin of 22.0% versus 20.9%
- Q3 2026 guidance: service revenue of $268.5 million to $270.5 million and diluted EPS of $1.68 to $1.72; full-year 2026 diluted EPS of $9.93 to $10.07
- Unrestricted cash and investments of $274.5 million at June 30, 2026, down from $300.1 million at December 31, 2025
Read the filing on SEC.gov ↗
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