Laureate Education ( (LAUR) ) has released its Q3 earnings. Here is a breakdown of the information Laureate Education presented to its investors.
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Laureate Education, Inc. operates five higher education institutions in Mexico and Peru, offering undergraduate, graduate, and specialized degree programs to over 450,000 students through both campus-based and online learning platforms.
In the third quarter of 2024, Laureate Education reported a 2% increase in revenue to $368.6 million compared to the same quarter last year, with a substantial increase in net income from $36.0 million to $85.3 million, largely due to a discrete tax benefit. For the nine months ending September 30, 2024, the company saw a 6% revenue growth to $1,143.2 million and a significant rise in net income to $202.8 million, driven by currency exchange effects, improved operating income, and tax benefits.
Key highlights include a 4% increase in new enrollments and a 5% rise in total enrollments for the nine-month period. Adjusted EBITDA also showed positive trends, reaching $91.4 million for the third quarter and $308.9 million for the nine months, illustrating the company’s improved operational efficiency. The macroeconomic recovery in Peru has notably contributed to the strong financial performance.
Looking forward, Laureate Education has adjusted its full-year guidance to reflect recent currency fluctuations, projecting total enrollments to reach about 470,000 students, with anticipated revenue growth of 5% on a reported basis. The company expects its Adjusted EBITDA to grow between 7% and 8%, demonstrating confidence in its ability to navigate market conditions and continue its growth trajectory.
