Skip to main content

Capella Education's net profit plummets 49 percent in third-quarter

Capella Education, the parent company of the for-profit Capella University, says its third-quarter net income was $5.1 million, down nearly 50 percent compared to the $9.9 million it earned in the July-September quarter last year, the Associated Press reports. Even as total enrollment, revenue and net income fell, new student enrollment at the Minneapolis-based provider of online post-secondary education rose 10.5 percent compared to last year -- the first increase in nearly two years, Reuters reports.
  • Author:
  • Updated:
    Original:

Capella Education, the parent company of the for-profit Capella University, says its third-quarter net income was $5.1 million, down nearly 50 percent compared to the $9.9 million it earned in the July-September quarter last year, the Associated Press reports.

Even as total enrollment, revenue and net income fell, new student enrollment at the Minneapolis-based provider of online post-secondary education rose 10.5 percent compared to last year -- the first increase in nearly two years, Reuters reports.

The Star Tribune reports Capella's chairman and chief executive officer, Kevin Gilligan, is optimistic. "We are pleased to report year-over-year new enrollment growth within a continued challenging overall market environment. This performance is further indication that our business fundamentals are stabilizing," Gilligan said.

Next Up

Pixabay laptop keyboard phone dark

Charges: Duluth man had hundreds of child porn images, videos

The National Center for Missing and Exploited Children found nearly 330 images on the man's electronic devices.

hennepin county sheriff water patrol lake minnetonka

Scuba diver found dead in Lake Minnetonka identified as 20-year-old

The Hennepin County Medical Examiner's Office said 20-year-old Brady Alan Aune, from Elko New Market, died of freshwater drowning on June 3.

Screen Shot 2022-06-30 at 11.18.35 AM

Felony charges filed after authorities search 'Peacebunny Cottage'

The president of the rabbit rescue non-profit faces multiple animal cruelty charges after over 40 rabbits were found dead inside the organization's barn.

monkeypox virus

Minnesota up to 6 confirmed cases of monkeypox virus

Most people recover at home within 2-4 weeks.

thc edibles

Did Minnesota just accidentally legalize THC?

A Republican lawmaker who voted to approve the new law in May is already talking about rolling it back.

Screen Shot 2022-06-30 at 3.19.42 PM

Gasoline may be cause of sewer explosion on U of M campus

An all-clear was given around 9 p.m. Thursday, with residents in the area allowed to return to their homes.

image

Overwhelming demand for THC products on first day of new law in MN

One shop owner said his Chaska store broke the online sales record before they opened Friday morning.

Flickr - Lake Minnetonka boat - Greg Gjerdingen

Increased drunk boating enforcement over 4th of July weekend

The increased enforcement is part of the Operation Dry Water initiative.

Kayak

Four kayakers stranded, rescued in Chisholm park

The kayakers became stranded at Redhead Mountain Bike Park Thursday afternoon.

SherburneCoJailDrugArrests

Duo charged after 10-pound meth package sent to wrong address

More than 10 pounds of meth are off the street thanks to a delivery error.

Screen Shot 2022-07-01 at 11.01.32 AM

Bird Rides' suburban expansion continues in Minnesota

Its scooter season in Minnesota. The latest on where you can find Bird e-scooters:

Flickr - police lights squad siren - Edward Kimmel

Man found dead with 'trauma to his face' in St. Paul

A man was found dead with "trauma to his face" in St. Paul after 3 a.m.

Related

Capella Education reports net income fell 25 percent in 2Q

The Minneapolis-based for-profit education provider reports total active student enrollment in the second quarter fell 4.6 percent and new enrollment declined by 6 percent. Capella says third-quarter enrollment could increase for the first time in nearly two years.

Ecolab's net income, sales surge in third quarter

Ecolab Inc., the St. Paul-based cleaning and pest-control giant, says its net sales jumped 74 percent to $3 billion in the third quarter, RTTNews.com reports. Net income was also up 54 percent compared to the same period a year earlier.

Xcel Energy's profit jumps nearly 18 percent in third-quarter

Reduced operating expenses over the summer months helped boost Xcel Energy Inc.'s third-quarter earnings, Dow Jones News reports. The Minneapolis-based utility earned $398 million, up nearly 18 percent from $338.3 million a year earlier.

Polaris profits surge 40 percent in 3Q

Boosted by double-digit sales growth across all of its product lines, Polaris Industries Inc. posted a net income of $94.3 million, a 40 percent jump from $67.6 million in the third quarter a year-ago, the Associated Press reports. The Medina-based all-terrain vehicles maker also lifted its full-year outlook for the third time.

Land O'Lakes profits rebound in 3Q

Land O'Lakes Inc. posted net income of $18 million in the third-quarter, compared to a $30 million loss a year earlier, the Star Tribune reports. The Arden Hills-based co-op also reported a seven percent increase in sales.

Fastenal Q3 profit up 13 percent

Lower expenses and a 10 percent sales growth helped boost Fastenal Co's third-quarter net income by 13 percent, RTTNews reports. The Winona-based company, an industrial and construction supplier, posted a profit of $109.3 million, or 37 cents a share, compared to $96.8 million, or 33 cents a share, a year ago.