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

Taylor Rogers

Twins Rumors: Taylor Rogers could draw interest despite injury

The left-hander was placed on the injured list on Tuesday.

E7WFMKZUcAIbzNf

Severe storm watch: Apple-sized hail, 75 mph winds possible

A watch has been issued by the National Weather Service.

Screen Shot 2021-07-27 at 7.28.06 PM

Slain Red Lake officer identified as husband, father-of-four

Police say he was shot while responding to a report of a suicidal male who possibly had children the house.

Go Fund Me - Adam Richard Johnson

Remains in Mississippi mark 4th discovery of man's dismembered body parts

Officials on Tuesday confirmed the remains found July 4 are those of Adam Johnson.

Facebook - GoGo dog stolen vehicle -  St. Paul Police Department

Missing dog GoGo found dead in owner's stolen vehicle 3 days later

The vehicle was reported stolen with GoGo inside on July 18

Flickr - face masks covid pole - Ivan Radic

The 14 MN counties with 'substantial or high' COVID-19 transmission

The CDC says everyone in these areas should wear a mask in indoor public places.

Pexels - woman grocery shopping mask covi

CDC: Masks recommended in places with 'substantial or high' transmission

This new guidance applies to everyone, regardless of vaccination status.

Screen Shot 2021-07-27 at 1.10.29 PM

WATCH: Vikings Live with Matthew Coller: Welcome to training camp

Vikings Live with Matthew Coller is a new Vikings show that streams Tuesdays.

YouTube - Minnesota DNR - watering tree

Tips for watering trees during severe drought, sprinkler restrictions

How can you keep your valued trees healthy? Just follow these simple steps.

police tape, crime scene

Minnesota saw record number of murders in 2020, BCA says

The BCA released its annual Uniform Crime Report on Tuesday.

Flickr - Red Lake Nation sign - Ken Lund

Red Lake police officer fatally shot on Tuesday

The officer was reportedly shot near Redby.

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.