Perdoceo Education Corporation (PRDO) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Perdoceo Education published the results on November 5, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Perdoceo Education reports EPS two ways: GAAP, under the accounting rules every US filer follows, and adjusted earnings per diluted share, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Perdoceo's institutions are Colorado Technical University (CTU), the American InterContinental University System (AIUS) and the University of St. Augustine for Health Sciences (USAHS).
• Perdoceo agreed on September 14, 2026 to buy South University and expects to close as early as April 2027. The outlook does not include it.

Source: Perdoceo Education Q3 2026 results, November 5, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Perdoceo Education splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Perdoceo Education's CTU revenue was $117 million in Q3 2026, flat on $117 million in Q3 2025, 54% of total revenue.
• Perdoceo Education's AIUS revenue was $56.6 million in Q3 2026, flat on $56.7 million in Q3 2025, 26% of total revenue.
• Perdoceo Education's USAHS revenue was $41.7 million in Q3 2026, up 10% from $38.0 million in Q3 2025, 19% of total revenue.
• Perdoceo Education's Corporate and Other revenue was $0.2 million in Q3 2026, flat on $0.2 million in Q3 2025, under 1% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

Perdoceo gives its outlook as a table. Each line reads: Q4 2026 outlook, Q4 2025 actual, full-year 2026 outlook, full-year 2025 actual.

In its Q3 2026 release, Perdoceo Education said:

“Adjusted Operating Income $56.9M-$59.9M $51.6M $260.0M-$263.0M $237.9M”

“Earnings Per Diluted Share $0.63-$0.67 $0.54 $2.93-$2.97 $2.42”

“Adjusted Earnings Per Diluted Share $0.68-$0.72 $0.59 $3.15-$3.19 $2.61”

Source: Perdoceo Q3 2026 release, Nov 5, 2026.

This is the company's own guidance as of Nov 5, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the PRDO forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and diluted EPS, each as first reported in that quarter's release.

We do not hold a confirmed date for Perdoceo Education's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 5, 2026

Perdoceo Education earns tuition through three academic institutions. In Q3 2026 Colorado Technical University (CTU) brought in $117.4 million of the $215.9 million total, the American InterContinental University System (AIUS) $56.6 million, and the University of St. Augustine for Health Sciences (USAHS) $41.7 million. (Perdoceo Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 5, 2026; Perdoceo Form 10-K, 2025, Feb 19, 2026)

Perdoceo's revenue tracks enrollment. Total student enrollments were 47,260 at September 30, 2026, up 1.6% from 46,520. CTU had 31,870 students, down 0.5%, AIUS 10,830, up 7.5%, and USAHS 4,560, up 3.2%. (Perdoceo Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 5, 2026)

Revenue grew 1.9%. USAHS did most of it, up 9.8% or $3.7 million on enrollment growth. CTU revenue rose 0.3%, as higher retention and corporate student programs were offset by more students graduating in 2026 and record prior-year comparisons. AIUS revenue was flat; the 10-Q says its 7.5% enrollment gain partly reflects the timing of its academic calendar. (Perdoceo Form 10-Q, Q3 2026, Nov 5, 2026; Perdoceo Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 5, 2026)

Federal student aid is the main funding source. In 2025 about 76% of Perdoceo's institutions' cash receipts from tuition payments came from Title IV Program funding, and the 90-10 Rule bars an institution from Title IV if more than 90% of its cash basis revenue comes from federal funds for two consecutive fiscal years. (Perdoceo Form 10-K, 2025, Feb 19, 2026)

Perdoceo Education earned $44.4 million, or $0.70 per diluted share, in Q3 2026, against $39.9 million, or $0.60. Adjusted EPS of $0.77 excludes amortization of acquired intangible assets and $1.6 million of legal fees related to M&A activity, after their tax effect. (Perdoceo Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 5, 2026)

Share repurchases lifted per-share growth above net income growth. Diluted weighted average shares fell to 63.3 million from 66.0 million, and Perdoceo bought back 0.6 million shares for $19.9 million in the quarter, with $65.1 million left under its program. It declared a quarterly dividend of $0.17 per share. (Perdoceo Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 5, 2026)

CTU operating income fell 6.1% to $44.9 million because of higher legal fees on previously disclosed legal matters, while USAHS operating income rose to $4.6 million from $0.1 million. Perdoceo's outlook assumes an effective tax rate of about 25.5% for the fourth quarter. (Perdoceo Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 5, 2026; Perdoceo Form 10-Q, Q3 2026, Nov 5, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Perdoceo Education publishes a quarterly and full-year outlook in its release. For Q4 2026 it expects EPS of $0.63 to $0.67 and adjusted EPS of $0.68 to $0.72, against $0.54 and $0.59 a year earlier. For full-year 2026 it expects EPS of $2.93 to $2.97, adjusted EPS of $3.15 to $3.19 and adjusted operating income of $260.0 million to $263.0 million. It does not give a revenue figure. (Perdoceo Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 5, 2026)

The outlook rests on stated assumptions, including no material change to federal student aid, no significant impact from the U.S. Federal Trade Commission settlement, and no future share repurchases. The South University deal, with $130 million to $150 million of cash expected at closing, is not in these figures. (Perdoceo Q3 2026 release (Form 8-K, Exhibit 99.1), Nov 5, 2026)

A consensus figure is the average of the models published by the analysts who cover Perdoceo Education, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Perdoceo Education's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning PRDO is on is PRDO a buy or a sell?, what analysts expect next is on the PRDO forecast, and what the company does is on the Perdoceo Education Corporation (PRDO) stock page.

Every number on this page can be traced to a document Perdoceo Education published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.