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Jun 30, 2020
Laureate Q2 2020 Earnings Report
Laureate delivered a solid second quarter with Adjusted EBITDA results that were ahead of expectations due to tight cost controls and the acceleration of productivity initiatives.
Key Takeaways
Laureate Education, Inc. reported a decrease in revenue by 20% to $791.7 million compared to the second quarter of 2019. The operating loss was $(254.8) million, and the net loss was $(311.6) million. Adjusted EBITDA was $259.0 million, a decrease of $39.8 million compared to the previous year.
Revenue decreased by 20% compared to the second quarter of 2019, totaling $791.7 million.
Operating loss was $(254.8) million, affected by impairment charges of $445.1 million.
Net loss was $(311.6) million, attributable to impairment charges.
Adjusted EBITDA was $259.0 million, a decrease of $39.8 million compared to the second quarter of 2019.
Forward Guidance
Laureate is updating its full-year 2020 guidance to reflect an improved outlook, as well as the reclassification of the Company’s Rest of World segment to Discontinued Operations reflecting the recently announced agreement to sell its businesses in Australia and New Zealand.
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