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EX-99.1

2 prdo-ex99_1.htm

EX-99.1

EX-99.1

PRDO ANNOUNCES 1Q26 RESULTS …PG 1

Exhibit 99.1

PERDOCEO EDUCATION CORPORATION ANNOUNCES FIRST QUARTER 2026 RESULTS

Earnings per diluted share increased by 30.8% as compared to the prior year

Schaumburg, IL. (May 7, 2026) – Perdoceo Education Corporation (NASDAQ: PRDO), a provider of postsecondary education programs through its academic institutions, today reported operating and financial results for the first quarter ended March 31, 2026.

"First quarter results were ahead of our expectations which we believe continue to underscore the operating strength and value proposition of our academic institutions,” said Todd Nelson, President and Chief Executive Officer. “During the quarter, our academic institutions continued to generate strong levels of prospective student interest, while student retention and engagement trended near multi-year highs. We remain optimistic for 2026 and will continue to make selective investments that, we believe, will further improve academic outcomes and student experiences."

First Quarter 2026 Results as Compared to Prior Year Quarter

• Operating income increased 22.0% to $63.1 million, while adjusted operating income increased 14.1% to $72.5 million*.

• Revenue increased 4.1% to $221.7 million compared to $213.0 million.

• Total student enrollments at March 31, 2026 increased by 1.1%. Total student enrollment growth at CTU and USAHS was partially offset by the expected decline at AIUS.

• Earnings per diluted share was $0.85 as compared to $0.65, while adjusted earnings per diluted share grew by 28.6% to $0.90 as compared to $0.70*.

*See GAAP (U.S. generally accepted accounting principles) to non-GAAP reconciliations attached to this press release.

PRDO ANNOUNCES 1Q26 RESULTS …PG 2

TOTAL STUDENT ENROLLMENTS

• As of March 31, 2026, total student enrollments were 48,740 an increase of 1.1% as compared to 48,190 total student enrollments as of March 31, 2025.

As of March 31,

Total Student Enrollments

2026

2025

% Change

CTU (1)

34,050

33,400

1.9

%

AIUS (1)

10,320

10,550

-2.2

%

USAHS

4,370

4,240

3.1

%

Total

48,740

48,190

1.1

%

(1) Total student enrollments do not include learners participating in: a) non-degree seeking and professional development programs, and b) degree seeking, non-Title IV, self-paced programs at our universities.

REVENUE

• For the quarter ended March 31, 2026, revenue increased 4.1% to $221.7 million compared to revenue of $213.0 million for the prior year quarter.

For the Quarter Ended March 31,

Revenue ($ in thousands)

2026

2025

% Change

CTU

$

120,756

$

116,074

4.0

%

AIUS

57,816

57,564

0.4

%

USAHS

43,008

39,183

9.8

%

Corporate and Other

163

183

NM

Total

$

221,743

$

213,004

4.1

%

PRDO ANNOUNCES 1Q26 RESULTS …PG 3

OPERATING INCOME

• For the quarter ended March 31, 2026, operating income increased 22.0% to $63.1 million as compared to the prior year quarter.

For the Quarter Ended March 31,

Operating Income ($ in thousands)

2026

2025

% Change

CTU

$

50,543

$

46,760

8.1

%

AIUS

12,564

11,221

12.0

%

USAHS

6,307

(330

)

NM

Corporate and Other

(6,292

)

(5,924

)

NM

Total

$

63,122

$

51,727

22.0

%

ADJUSTED OPERATING INCOME

The Company believes it is useful to present non-GAAP financial measures, such as adjusted operating income, which exclude certain non-cash items, as a means to better understand its operating performance. (See the table below and the GAAP to non-GAAP reconciliations attached to this press release for further details.)

• For the quarter ended March 31, 2026, adjusted operating income of $72.5 million increased 14.1% compared to adjusted operating income of $63.5 million for the prior year quarter.

For the Quarter Ended March 31,

Adjusted Operating Income ($ in thousands)

2026

2025

Operating income

$

63,122

$

51,727

Depreciation and amortization

9,347

11,807

Adjusted Operating Income

$

72,469

$

63,534

% Increase (Decrease)

14.1

%

PRDO ANNOUNCES 1Q26 RESULTS …PG 4

NET INCOME, EARNINGS PER DILUTED SHARE AND ADJUSTED EARNINGS PER DILUTED SHARE

For the quarter ended March 31, 2026, the Company recorded:

• Net income of $54.0 million compared to $43.7 million for the prior year quarter.

• Earnings per diluted share of $0.85 compared to $0.65 for the prior year quarter.

• Adjusted earnings per diluted share of $0.90 compared to $0.70 for the prior year quarter. (See the GAAP to non-GAAP reconciliations attached to this press release for further details.)

For the Quarter Ended March 31,

2026

2025

Net income ($ in thousands)

$

53,951

$

43,688

Earnings per diluted share

$

0.85

$

0.65

Adjusted earnings per diluted share

$

0.90

$

0.70

% Increase (Decrease)

28.6

%

CAPITAL ALLOCATION

On May 6, 2026 the board of directors declared a quarterly dividend of $0.15 per share, which will be paid on June 12, 2026 to holders of record of common stock as of June 1, 2026. Any d

8-K

false000104656800010465682026-02-192026-02-19

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of Earliest Event Reported): February 19, 2026

Perdoceo Education Corporation (Exact Name of Registrant as Specified in Charter)

Delaware

0-23245

36-3932190

(State or Other Jurisdiction of Incorporation)

(Commission File Number)

(IRS Employer Identification No.)

1750 E. Golf Road, Schaumburg, IL

60173

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s telephone number, including area code: (847) 781-3600

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading symbol(s)

Name of each exchange on which registered

Common Stock, $0.01 par value

PRDO

Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter). Emerging growth company ☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02. Results of Operations and Financial Condition. On February 19, 2026, Perdoceo Education Corporation (the “Company”) issued a press release describing the Company’s financial results for the fiscal quarter and year ended December 31, 2025 and providing the Company’s 2026 outlook. A copy of the press release is being furnished as Exhibit 99.1, and the information contained therein is incorporated herein by reference. Following the issuance of the press release, the Company will host a conference call and webcast on which its financial results for the quarter and year ended December 31, 2025 and 2026 outlook will be discussed. The information contained in Item 2.02 of this Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall the information be deemed incorporated by reference into any filing under the Securities Act of 1933 or Securities Exchange Act of 1934, each as amended, except as shall be expressly set forth by specific reference in such a filing. Item 9.01. Financial Statements and Exhibits. (d) Exhibits.

The exhibits required by Item 601 of Regulation S-K are listed in the “Exhibit Index” which is contained in this Current Report on Form 8-K and are incorporated by reference herein.

Exhibit Index

Exhibit Number

Description of Exhibits

99.1

Press release of the Company dated February 19, 2026 reporting the Company’s financial results for the quarter and year ended December 31, 2025.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

PERDOCEO EDUCATION CORPORATION

By:

/s/ Ashish R. Ghia

Ashish R. Ghia

Senior Vice President and Chief Financial Officer

Date: February 19, 2026