Perdoceo Education Posts Higher Year-Over-Year Revenue, Operating Income, Net Income, and Diluted EPS on Both Quarter and Year-to-Date Windows

Bottom line

Perdoceo Education Corporation filed an interim report on Form 10-Q for the period covering the three months ended June 30, 2026 and the six months ended June 30, 2026, filed under 0001193125-26-337926, with registrant identifier 0001046568 and ticker PRDO. The filing presents a clean quarter and year-to-date picture, with each reported income measure moving higher on a year-over-year basis on both the three-month and six-month windows.

Across both windows, Revenue from Contract with Customer, Excluding Assessed Tax registered a year-over-year increase, with the reported three-month figure of $213,355,000 USD exceeding the prior-year three-month revenue of $209,581,000 USD, and the reported six-month revenue of $435,098,000 USD exceeding the prior-year six-month revenue of $422,585,000 USD, qualifying both comparisons as a profit-to-profit style transition inside the authorized direction set. For a like-for-like interim comparison that frames similar multi-line profit-to-profit growth, the Ralph Lauren Reports Higher Year-Over-Year Revenue, Operating Income, Net Income, and Diluted EPS in Interim Filing write-up illustrates the same authorized pattern across the four lines.

Operating profitability tracked revenue higher on both windows. Operating Income (Loss) for the three-month reporting period was $54,881,000 USD versus the prior-year operating income of $51,399,000 USD, and Operating Income (Loss) for the six-month year-to-date period was $118,003,000 USD versus the prior-year operating income of $103,126,000 USD, each directionally higher than the prior period and consistent with the authorized profit-to-profit transition. Net Income (Loss) Attributable to Parent showed the same pattern, with the current quarter profit of $47,971,000 USD up from the prior-year quarter profit of $41,028,000 USD, and the current six-month profit of $101,922,000 USD up from the prior-year six-month profit of $84,716,000 USD.

The bottom line flowed through to diluted earnings per share. Earnings Per Share, Diluted for the three-month reporting period was $0.75 per diluted share USD/SHARES, higher than the prior-year quarter diluted EPS of $0.62 per diluted share USD/SHARES, and Earnings Per Share, Diluted for the six-month year-to-date period was $1.6 per diluted share USD/SHARES, higher than the prior-year six-month diluted EPS of $1.27 per diluted share USD/SHARES, both profit-to-profit transitions in line with the authorized comparisons.

Source scope covers the unaudited condensed consolidated financial statements for the quarter and year-to-date ended June (omitted), as presented in PERDOCEO EDUCATION Corp's Form 10-Q identified by accession 0001193125-26-337926 for fiscal period period-ended-2026-06-30. Quoted narrative also references fair-value tier descriptions under Level 1, Level 2, and Level 3, a stockholders' equity note under Note 8, and Items appearing elsewhere in the report including Item 1, Item 1A, Item 2, Item 3, Item 4, Item 5, and Item 6. No peer benchmarks are presented in the filing The filing evidence contains no peer or industry comparison.. No single cause has been attributed to the year-over-year changes in the evidence The filing evidence does not attribute this change to any single cause..

Financial performance

- Reported facts, as stated by PERDOCEO EDUCATION Corp in its 10-Q for period-ended-2026-06-30 filed under accession 0001193125-26-337926, cover the three-month and six-month year-to-date periods ending in mid-year, with prior-year comparatives carried alongside each line: - Revenue from Contract with Customer, Excluding Assessed Tax was $213,355,000 USD for the three months ended June 30, 2026 and $435,098,000 USD for the six months ended June 30, 2026, compared with $209,581,000 USD and $422,585,000 USD for the three months ended June 30, 2025 and the six months ended June 30, 2025 respectively.

- Operating Income (Loss) was $54,881,000 USD and $118,003,000 USD, against $51,399,000 USD and $103,126,000 USD in the prior year. - Net Income (Loss) Attributable to Parent was $47,971,000 USD and $101,922,000 USD, against $41,028,000 USD and $84,716,000 USD in the prior year. 27 per diluted share USD/SHARES in the prior year.

- Management explanations and accounting context: - The interim disclosure states that "Operating results for the quarter and year to date ended June (omitted) are not necessarily indicative of the results that may be expected for the full year ending December (omitted)," signalling that the period figures should not be extrapolated to the full fiscal year. - The filing notes three reporting segments — CTU, AIUS and USAHS — each treated as a postsecondary education provider, with segment determinations made under the FASB ASC segment-reporting framework.

" - Available-for-sale securities are classified within Level 2 under the three-tier fair-value hierarchy, with Level 1 and Level 3 defined as quoted-market and internally-developed-assumption tiers respectively. " - Analyst inference, framed strictly by the machine-authorised comparisons: - On the year-over-year axis, Revenue, Operating Income, Net Income and Diluted EPS are all authorised as higher than the prior period for both the three-month and six-month windows, and each line remained in profit across the comparison — that is, a profit-to-profit transition rather than a swing into or out of profitability.

- On the quarter-over-quarter axis, the filing does not provide the prior sequential quarter's figures, so directional quarter-vs-previous-quarter comparisons cannot be drawn from the filing evidence. - Counter-evidence and unknowns: - The interim filing contains no forward guidance, no outlook range, no projected full-year EPS or revenue target, and no commentary on expected enrolment or pricing trends for the back half of the year; Guidance and Expectation are therefore not supported by the filing evidence. - No segment-level revenue or operating-income split is quoted in the source narrative supplied for this section, so divisional contributions to the consolidated growth are not assessable from this filing alone.

- The filing evidence contains no peer or industry comparison. - The filing evidence does not attribute this change to any single cause.

Operating drivers and segments

- Perdoceo organizes its business across three reporting segments — CTU, AIUS and USAHS — each described as a postsecondary education provider offering academic programs at varying credential levels. - Revenue from contract with customers, excluding assessed tax, was higher year over year on both the three-month reporting period and the six-month year-to-date period, with the authorized direction confirming the move from a positive base to a higher positive figure on each window. - Operating income was higher year over year on both the three-month reporting period and the six-month year-to-date period, with the authorized direction again confirming a step up within the profit zone on each window.

- No segment-level revenue or operating-income breakdown is included in the filing evidence, so any discussion of CTU versus AIUS versus USAHS profitability, growth spread, or margin contribution is not grounded in the catalog. Independent margin analysis cannot proceed further here. - Management frames the segment structure as a tool for analyzing performance and making decisions under FASB ASC Topic on Segment Reporting, rather than as a quantitative disclosure in this filing.

- The narrative around CTU and AIUS emphasizes innovation in higher education, personalized learning technologies such as the intellipath learning platform, and the use of data analytics to serve students and enhance academic experiences. - USAHS is characterized as preparing medical professionals across graduate health sciences disciplines, including physical therapy, occupational therapy, speech language therapy and nursing, alongside continuing education programs. - The Company notes that it is currently evaluating a recent FASB update on internal-use software and does not expect the adoption to significantly impact its financial condition, results of operations or other disclosures, while a separate credit-losses ASU adopted in the period also did not significantly change presentation.

- Operating results for the quarter and year-to-date are caveated as not necessarily indicative of full-year results, consistent with standard interim reporting language. - For a broader interim-filing pattern where revenue and operating income both step up within the profit zone on the quarter and year-to-date windows, see Ralph Lauren Reports Higher Year-Over-Year Revenue, Operating Income, Net Income, and Diluted EPS in Interim Filing.

Cash flow and capital

Reported facts

For the six-month year-to-date period, the consolidated statement of cash flows shows Net Cash Provided by (Used in) Operating Activities of $144,018,000 USD. The prior-year comparative for the same window was $143,905,000 USD. Operating cash flow was therefore positive in both periods.

Net Cash Provided by (Used in) Investing Activities was -$65,750,000 USD for the current six-month window, against -$7,254,000 USD in the prior-year six-month window. Both amounts are cash outflows.

Net Cash Provided by (Used in) Financing Activities was -$46,839,000 USD for the current six-month window, against -$74,727,000 USD in the prior-year six-month window. Both amounts are cash outflows.

Payments for Repurchase of Common Stock — a key capital-return line — totalled $14,976,000 USD for the current six-month window, against $46,082,000 USD in the prior-year six-month window. Both are cash outflows reported under financing activities.

On the consolidated balance sheet at the period end, Cash and Cash Equivalents, at Carrying Value stood at $162,889,000 USD. Accounts Payable, Current was $17,310,000 USD on the same date.

Management explanations

The filing's narrative discusses fair-value hierarchy levels — Level 1, Level 2 and Level 3 — and confirms there were no realized gains or losses from the sale of investments for the quarters and year-to-date periods presented. Contract assets and deferred revenue are addressed in the revenue disclosures, with billings for future academic periods creating contract assets until the course begins and the refund cutoff passes.

Analyst inference

Year-over-year, Net Cash Provided by (Used in) Operating Activities increased in the current six-month window relative to the prior-year six-month window (authorized direction: increase; current positive, prior positive). Net Cash Provided by (Used in) Investing Activities was a larger outflow in the current window than in the prior-year window (authorized direction: decrease). Net Cash Provided by (Used in) Financing Activities was a smaller outflow than in the prior-year window (authorized direction: increase; both negative). Payments for Repurchase of Common Stock was lower in the current window than in the prior-year window (authorized direction: decrease; both positive).

Liquidity appears comfortably positioned for a for-profit education operator: cash on the balance sheet of $162,889,000 USD is materially larger than accounts payable of $17,310,000 USD, supporting near-term operating flexibility.

Counter-evidence

The filing does not provide a segment-level cash-flow breakdown or a working-capital schedule, so it is not possible from these materials to reconcile cash-flow changes with receivables, deferred tuition movements or contract assets. Capital-allocation commentary beyond repurchases is not elaborated.

Unknowns

The role of dividend distributions, debt issuance or repayment and acquisition spending within the -$46,839,000 USD and -$65,750,000 USD lines is not separately quantified in this section's catalog. The composition of year-over-year movements between operating, investing and financing flows is not attributed to any single cause — The filing evidence does not attribute this change to any single cause.. The filing evidence contains no peer or industry comparison — The filing evidence contains no peer or industry comparison..

Peer and historical context

- The only longitudinal peer available for PERDOCEO EDUCATION Corp inside this 10-Q for period-ended-2026-06-30 under accession 0001193125-26-337926 is its own prior-year comparative, so peer framing here is strictly introspective rather than cross-issuer. - Each of the six headline lines posted a higher year-over-year reading on both the the three months ended June 30, 2026 and the the six months ended June 30, 2026 windows, and several of those increases were already labelled in the cited note as profit-to-profit moves — a uniformly positive self-comparison. - The directional uniformity across the top of the income statement (revenue, operating income, net income) makes the standalone read of any one line less informative than the cluster's shape, since none of the six metrics broke the pattern The filing evidence does not attribute this change to any single cause.. - Because The filing evidence contains no peer or industry comparison. applies to anything outside the issuer, the section's analytical value is confined to telling the reader what the company did against itself, not how it stacks up against other for-profit education issuers.

- Operating cash flow directionally corroborates the income-statement improvement, but the lift there is smaller in feel than the income-statement lift, which a reader could otherwise over-read as a uniform profit-quality gain. - The prior-year comparative lines themselves are positive on every dimension in this filing, so the "growth" framing is growth on top of an already-profitable base — a meaningful nuance for a quarter-over-quarter comparison. - Across the cited windows, revenue and operating income appear to move in step, leaving no internal opening to flag a margin-spread story from the disclosed numbers alone; the prior-year operating-income print is the only early-window anchor that lets a reader triangulate the trend without leaning on a single period.

The interim report for PERDOCEO EDUCATION Corp (ticker PRDO, CIK 0001046568) compares the the three months ended June 30, 2026 and the six months ended June 30, 2026 results with the three months ended June 30, 2025 and the six months ended June 30, 2025. Revenue from Contract with Customer, Excluding Assessed Tax was $209,581,000 USD for the prior-year quarter and $213,355,000 USD for the current quarter, and was $422,585,000 USD for the prior-year half year and $435,098,000 USD for the current half year — both authorised directions are increase, prior to prior and prior to prior respectively, with both ends positive. Operating Income (Loss) was $51,399,000 USD in the prior-year quarter and $54,881,000 USD in the current quarter, and was $103,126,000 USD in the prior-year half year and $118,003,000 USD in the current half year — profit-to-profit increases on both windows. Net Income (Loss) Attributable to Parent was $41,028,000 USD in the prior-year quarter and $47,971,000 USD in the current quarter, and was $84,716,000 USD in the prior-year half year and $101,922,000 USD in the current half year — again profit-to-profit increases on both windows. Operating cash flow was $143,905,000 USD in the prior-year half year and $144,018,000 USD in the current half year, with an authorised direction of increase from one positive reading to another.

Investors looking for a model of how this same uniform-increase pattern has been described in interim filings can compare the year-over-year language here with Ralph Lauren Reports Higher Year-Over-Year Revenue, Operating Income, Net Income, and Diluted EPS in Interim Filing, which frames a similar profit-to-profit half-year and quarter-over-quarter set of increases. The cited note discusses stock-related items only, so any cross-peer comparison beyond the issuer's own prior-year columns is not in this filing The filing evidence contains no peer or industry comparison., and no segment-level detail is broken out for these dimensions The filing evidence does not disclose segment-level detail for this dimension..

Scenario analysis

- Anchored on the reported results in 10-Q for period-ended-2026-06-30 under 0001193125-26-337926, the central case assumes the trend lines that already appear in the filing extend forward: Revenue from Contract with Customer, Excluding Assessed Tax for the six months ended June 30, 2026 is higher than the prior-year comparative at $422,585,000, and the three-month reading at $213,355,000 is also higher than $209,581,000. - Net Income (Loss) Attributable to Parent at $101,922,000 exceeds the prior-year six-month base of $84,716,000, with the three-month profit at $47,971,000 likewise above $41,028,000. - Reported facts - Reported in the cited note, Revenue from Contract with Customer, Excluding Assessed Tax for the six months ended June 30, 2026 sits at $435,098,000 versus $422,585,000 in the prior year. - Reported in the cited note, the three-month Revenue from Contract with Customer, Excluding Assessed Tax for the three months ended June 30, 2026 sits at $213,355,000 versus $209,581,000 in the prior year. - Reported in the cited note, Net Income (Loss) Attributable to Parent for the six months ended June 30, 2026 sits at $101,922,000 versus $84,716,000 in the prior year. - Reported in the cited note, Net Income (Loss) Attributable to Parent for the three months ended June 30, 2026 sits at $47,971,000 versus $41,028,000 in the prior year. - Management explanations: none provided on the directional view; the filing frames revenue and net income results without forward guidance. - Analyst inference: the central case keeps both windows on a profit-to-profit path with revenue and earnings higher year over year, broadly consistent with the comparative picture investors see in filings such as Ralph Lauren Reports Higher Year-Over-Year Revenue, Operating Income, Net Income, and Diluted EPS in Interim Filing. - Counter-evidence: The filing evidence does not attribute this change to any single cause. - Unknowns: The filing evidence contains no peer or industry comparison.; The filing evidence does not disclose segment-level detail for this dimension..

- Reported facts - Reported in the cited note, the half-year revenue lift to $435,098,000 from $422,585,000 is paired with a half-year net income lift to $101,922,000 from $84,716,000. - Reported in the cited note, the quarter revenue lift to $213,355,000 from $209,581,000 is paired with a quarter net income lift to $47,971,000 from $41,028,000. - Management explanations: none offered on upside drivers; the cited note addresses student receivables, refund timing and allowance for credit losses rather than top-line momentum. - Analyst inference: the upside case treats the existing growth profile as the floor and assumes the same direction extends, with revenue higher than the prior period and net income higher than the prior period on both windows. The academic-term cash cycle described in the filing, including short-term contract-asset turnover and the allowance estimation process, would need to hold without disruption to preserve the path. Readers weighing a similar pattern can compare against Heritage Financial Posts Higher Year-Over-Year Diluted EPS and Net Income on Both the Quarter and the Six-Month Year-to-Date Period. - Counter-evidence: The filing evidence does not attribute this change to any single cause. - Unknowns: The filing evidence contains no peer or industry comparison.; The filing evidence does not disclose segment-level detail for this dimension..

- Reported facts - Reported in the cited note, the half-year net income reading at $101,922,000 and the quarter reading at $47,971,000 both stay in positive territory, with no disclosed loss transition. - Reported in the cited note, revenue for the six months ended June 30, 2026 and the three months ended June 30, 2026 is higher than the prior year, framing any downside as a moderation of growth rather than a contraction. - Management explanations: the cited note highlights refund policy mechanics, contract-asset reclassification into student receivables and the allowance estimation process as areas sensitive to economic, legislative or regulatory changes, without quantifying a downside path. - Analyst inference: the downside case leaves the directional readings intact — revenue higher than the prior period and net income higher than the prior period on both windows — but flags the receivables collection cycle, the allowance for credit losses and the academic-term refund window as the most fragile linkages in the model. The filing evidence does not attribute this change to any single cause. - Counter-evidence: The filing evidence contains no peer or industry comparison. - Unknowns: The filing evidence does not disclose segment-level detail for this dimension..

Risks and what to watch

- Reported figures (Net Income Attributable to Parent and Revenue from Contract with Customer, Excluding Assessed Tax) presented by PERDOCEO EDUCATION Corp for the three-month reporting period and the six-month year-to-date period are restated only as supported key references $47,971,000, $41,028,000, $101,922,000, $84,716,000, $213,355,000, $209,581,000, $435,098,000, and $422,585,000. No derived ratios or percentage changes are restated because such derivations would require numerical computation that is disallowed under the catalog rules.

- Quarter-over-quarter and year-to-date comparison: the quarter window reports profit-to-profit growth on Net Income Attributable to Parent, and the six-month year-to-date window also reports profit-to-profit growth on the same line. Revenue from Contract with Customer, Excluding Assessed Tax is reported as higher year-over-year on both the quarter and the six-month year-to-date comparison. The filing's reported narrative does not connect these higher top-line readings to any single operating driver in this filing, so the reader is presented with the direction only and not a cause. The filing evidence does not attribute this change to any single cause.

- Counter-evidence and qualifying disclosures about collection risk: the filing's student receivables narrative discloses that student receivables are stated net of an allowance for credit losses, that the standard allowance is based on an estimate of lifetime expected credit losses, and that the estimation methodology incorporates qualitative and quantitative factors. The same narrative discloses that a balance is generally written off only once a student has been out of school for greater than a stated threshold of days without payment. These disclosures imply that timing of cash collection and allowance sizing are sensitive to repayment behaviour and to changes in the economic, legislative, or regulatory environment, which the filing flags as inputs to the allowance estimate. The filing does not quantify how those inputs move with reported revenue or net income, so any inference about earnings quality from receivables ageing is left unstated.

- Segment, geographic, and product-mix detail: the filing evidence does not disclose segment-level revenue, operating income, or net income figures for PERDOCEO EDUCATION Corp in this interim report. The reader is therefore unable to identify which program, delivery mode, or geography contributed to the higher reported revenue lines. The filing evidence does not disclose segment-level detail for this dimension.

- Peer and industry context: the filing evidence contains no peer or industry comparison for this filing's reported metrics. The reader should not infer competitive positioning from this report alone. The filing evidence contains no peer or industry comparison.

- Items disclosed under the 10-Q Part II sections: the filing references legal proceedings under the cited item, risk-factor language under the cited item, quantitative and qualitative market-risk disclosures under the cited item, and controls-and-procedures language under the cited item. Stockholders' equity disclosure language is also referenced under the cited note. The narrative evidence quoted in this section does not enumerate any specific legal proceeding, market-risk shock, or control deficiency by name, so the reader should treat those disclosures as procedural references rather than as drivers of the reported earnings direction.

- Metrics to watch next period: the next interim filing's reported Net Income Attributable to Parent and Revenue from Contract with Customer, Excluding Assessed Tax for both the quarter and the six-month year-to-date comparison windows, the reported allowance for credit losses on student receivables relative to the gross receivable base, and any disclosure that names a specific driver of revenue or net-income movement. Until such a disclosure appears, the year-over-year directions reported here should be treated as standing observations rather than as evidence of an underlying trend.