The 10-second takeaway
For the quarter ended March 31 (Q1), Bridgepoint Education met expectations on revenues and missed estimates on earnings per share.
Compared to the prior-year quarter, revenue expanded and GAAP earnings per share shrank significantly.
Margins dropped across the board.
Bridgepoint Education notched revenue of $250.4 million. The nine analysts polled by S&P Capital IQ foresaw sales of $251.3 million on the same basis. GAAP reported sales were 9.2% higher than the prior-year quarter's $229.4 million.
Source: S&P Capital IQ. Quarterly periods. Dollar amounts in millions. Non-GAAP figures may vary to maintain comparability with estimates.
EPS came in at $0.71. The nine earnings estimates compiled by S&P Capital IQ predicted $0.75 per share. GAAP EPS of $0.59 for Q1 were 36% lower than the prior-year quarter's $0.92 per share.
Source: S&P Capital IQ. Quarterly periods. Non-GAAP figures may vary to maintain comparability with estimates.
For the quarter, gross margin was 72.7%, 300 basis points worse than the prior-year quarter. Operating margin was 20.9%, 1,660 basis points worse than the prior-year quarter. Net margin was 13.2%, 1,030 basis points worse than the prior-year quarter.
Next quarter's average estimate for revenue is $258.7 million. On the bottom line, the average EPS estimate is $0.74.
Next year's average estimate for revenue is $1.02 billion. The average EPS estimate is $2.58.
Of Wall Street recommendations tracked by S&P Capital IQ, the average opinion on Bridgepoint Education is outperform, with an average price target of $30.30.
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