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Mar 31, 2023
Laureate Q1 2023 Earnings Report
Laureate Education reported financial results, showing revenue increase and improved profitability compared to the same quarter last year.
Key Takeaways
Laureate Education reported a strong first quarter in 2023, with revenue increasing by 20% to $251.3 million and adjusted EBITDA increasing to $33.5 million. The company's performance was driven by increased enrollments in both Mexico and Peru. The company also updated its full-year 2023 guidance to reflect improved outlook.
New enrollments increased 17%.
Total enrollments increased 8%.
Revenue increased 20% to $251.3 million.
Adjusted EBITDA increased to $33.5 million.
Laureate
Laureate
Forward Guidance
Laureate is updating its full-year 2023 guidance to reflect an improved outlook, primarily related to more favorable currency rates.
Positive Outlook
- Total enrollments are still expected to be in the range of 447,000 to 455,000 students, reflecting growth of 6%-7% versus 2022.
- Revenues are now expected to be in the range of $1,412 million to $1,427 million, reflecting growth of 14%-15% on an as-reported basis and 9%-10% on an organic constant currency basis versus 2022.
- Adjusted EBITDA is now expected to be in the range of $398 million to $406 million, reflecting growth of 17%-20% on an as-reported basis and 13%-15% on an organic constant currency basis versus 2022.