American Public Education Q3 revenue beats estimates on Health+ segment growth
APEI•American Public Education’s third-quarter revenue rose 3.6% year over year to $169.1 million, beating the $165.79 million estimate. The company raised its 2026 revenue guidance to $695.0 million-$701.0 million and expects diluted EPS of $2.59-$2.84.
1. Quarterly results
American Public Education reported third-quarter revenue of $169.1 million, up 3.6% from a year earlier and above the $165.79 million analyst estimate. Net income and adjusted EPS also increased year over year.
2. Growth and outlook
The company said growth in its Health+ segment was driven by higher healthcare enrollments and modest tuition increases. It raised its full-year 2026 revenue guidance to $695.0 million-$701.0 million from $648.9 million, and expects diluted EPS of $2.59-$2.84, compared with $1.36 in 2025. It sees fourth-quarter 2026 revenue of $179.4 million-$185.4 million.
3. Operating changes
American Public Education began partial operations as a single accredited institution, which management said is expected to support long-term growth. The company also increased selling and promotional expenses to support registration and enrollment growth.
