Career Education Corporation (CECO) Tuesday posted a loss for the second quarter, compared to a profit last year, as revenues declined. Shares plunged 19 percent on the news.
Net loss for the quarter was $100.2 million or $1.52 per share, compared to net income of $55.4 million or $0.73 per share last year.
The latest second quarter results include non-cash goodwill and asset impairment charges of $85.6 million.
On an adjusted basis, loss from continuing operations were $0.18 per share, as compared to earnings of $0.73 per share last year.
Total revenues dropped 23.9 percent to $369.0 million from $484.9 million last year.
On average, analysts polled by Thomson Reuters expected loss of $0.01 per share on revenues of $383.54 million for the quarter. Analysts' estimates typically exclude one-time items.
For comments and feedback contact: editorial@rttnews.com
Business News
June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.