Perdoceo Education Corporation (NASDAQ:PRDO) Q2 2020 Earnings Conference Call - Final Transcript

Aug 06, 2020 • 05:30 pm ET


Perdoceo Education Corporation (NASDAQ:PRDO) Q2 2020 Earnings Conference Call - Final Transcript


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Good afternoon, and welcome to the Perdoceo Education Corporation Second Quarter 2020 Earnings Conference Call. [Operator Instructions].

I would now like to turn the conference over to Brooks Hamilton with Investor Relations. Please go ahead.

Brooks Hamilton

Thank you, Andrea. Good afternoon, everyone, and thank you for joining us on our second quarter 2020 earnings call. With me on the call today is Todd Nelson, President and Chief Executive Officer; and Ashish Ghia, Chief Financial Officer. This conference call is being webcast live within the Investor Relations section at A webcast replay will also be available on our site. You can always contact the Alpha IR Group for Investor Relations support. Let me remind you that this afternoon's earnings release and remarks made today include forward-looking statements as defined in Section 21E of the Securities Exchange Act of 1934. These statements are based on assumptions made by and information currently available to Perdoceo Education and involve risks and uncertainties that could cause actual future results, performance, business prospects and opportunities to differ materially from those expressed in or implied by these statements.

These risks and uncertainties include, but are not limited to, those factors identified in Perdoceo's annual report on Form 10-K for the year ended December 31, 2019, and subsequent filings with the Securities and Exchange Commission. Except as expressly required by the securities laws, the company undertakes no obligation to update those factors or any forward-looking statements to reflect future events, developments or changed circumstances or for any other reason. In addition, today's remarks refer to non-GAAP financial measures, which are intended to supplement, but not substitute for the most directly comparable GAAP measures. The earnings release that accompanies today's call contains financial and other quantitative information to be discussed today as well as the reconciliation of the GAAP to non-GAAP measures and is available within the Investor Relations page of the company's website.

With that, I'd like to turn the call over to Todd Nelson. Todd?

Todd Nelson

Thank you, Brooks. Good afternoon, everyone, and thank you for joining us on today's call. Let me start by saying that I'm very proud of our faculty and employees for their commitment and dedication to educating and serving our students during these uncertain times. Supported by our scalable and innovative technology infrastructure, all of our students are taking classes online and are well served by employees working remotely. We continue to improve our technology and processes and are providing the necessary tools and resources for our employees. The health and well-being of our students, employees and communities remain our top priority, and I am proud of the remote learning and service environment that we have built which I believe will help keep our students and employees safe during the ongoing pandemic. Now let's discuss the quarter. We're pleased with our operating results for the quarter, which came in ahead of our expectations. We continue to execute against our objective of sustainable and responsible growth while remaining focused on providing a quality education to