Laureate Q2 2024 Earnings Report
Key Takeaways
Laureate Education reported an 8% increase in revenue to $499.2 million and adjusted EBITDA of $186.9 million for the second quarter of 2024. Net income increased to $128.4 million, primarily driven by changes in foreign currency exchange rates. The company is maintaining its full-year constant currency outlook.
Revenue increased 8% to $499.2 million.
Operating income was $166.6 million, compared to $154.5 million for the second quarter of 2023.
Net income increased to $128.4 million, compared to $56.3 million for the second quarter of 2023.
Adjusted EBITDA was $186.9 million, compared to $175.4 million for the second quarter of 2023.
Laureate
Laureate
Forward Guidance
Laureate is maintaining its full-year constant currency outlook but adjusting its as-reported guidance to reflect more recent foreign currency rates, impacted by recent volatility in the Mexican peso.
Positive Outlook
- Total enrollments are still expected to be in the range of 467,000 to 473,000 students, reflecting growth of 4%-5% versus 2023
- Revenues are now expected to be in the range of $1,551 million to $1,566 million, reflecting growth of 5%-6% on an as-reported basis and 5%-6% on an organic constant currency basis versus 2023
- Adjusted EBITDA is now expected to be in the range of $441 million to $451 million, reflecting growth of 5%-8% on an as-reported basis and 6%-9% on an organic constant currency basis versus 2023.