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Jun 30, 2023
Laureate Q2 2023 Earnings Report
Reported a revenue increase and strong operating performance driven by favorable market conditions and foreign currency tailwinds.
Key Takeaways
Laureate Education reported a 20% increase in revenue to $462.1 million and an operating income of $154.5 million for the second quarter of 2023. The company is raising its full-year 2023 guidance for both revenues and earnings.
Revenue increased by 20% to $462.1 million.
Operating income was $154.5 million, compared to $126.6 million for the second quarter of 2022.
Net income was $56.3 million, compared to $43.6 million for the second quarter of 2022.
Adjusted EBITDA was $175.4 million, compared to $144.1 million for the second quarter of 2022.
Laureate
Laureate
Forward Guidance
Laureate is updating its full-year 2023 guidance to reflect favorable operating and currency trends. Revenues are now expected to be in the range of $1,483 million to $1,495 million and Adjusted EBITDA is now expected to be in the range of $419 million to $427 million.
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 $1,483 million to $1,495 million, reflecting growth of 19%-20% on an as-reported basis and 10% on an organic constant currency basis versus 2022
- Adjusted EBITDA is now expected to be in the range of $419 million to $427 million, reflecting growth of 24%-26% on an as-reported basis and 14%-16% on an organic constant currency basis versus 2022.
- Favorable operating trends
- Favorable currency trends