Apollo Education Group Shares Tumble Ahead Of Earnings Report
Shares of Apollo Education Group Inc (NASDAQ: APOL) were down more than 4 percent on Monday, ahead of the company’s third quarter financial results, scheduled for after the market close.
The company guided a 12.8 percent year-over-year decline in sales, from $799.9 million reported in the third quarter of 2014, to $697.5 million this quarter, and an operating loss is in the range of $85 million to $95 million.
According to Estimize, both the Street and the crowd are anticipating similar results. Experts are modeling consensus earnings of $0.47 per share (down from $0.76 reported a year ago) on revenue of $698.64 million, while the crowd is projecting consensus earnings of $0.48 per share on revenue of $698.71 million.
This would mark the seventh consecutive quarter bringing a year-over-year decline in earnings.
In a recent article, Zacks also previewed Apollo’s results, highlighting that the poor guidance “reflects sluggish new enrollments, which the company has been facing over the past few quarters.”
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