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Sep 30, 2022
Laureate Q3 2022 Earnings Report
Reported strong new enrollments and increased full-year 2022 guidance.
Key Takeaways
Laureate Education reported a 12% increase in revenue to $301.0 million and an operating income of $56.3 million for the third quarter of 2022. Net income was $31.0 million, while Adjusted EBITDA was $72.8 million.
Revenue increased 12% to $301.0 million.
Operating income was $56.3 million, compared to $35.1 million for the third quarter of 2021.
Net income was $31.0 million, compared to $360.1 million for the third quarter of 2021, which was primarily attributable to the gain on sale of Walden University.
Adjusted EBITDA was $72.8 million, compared to $75.9 million for the third quarter of 2021.
Laureate
Laureate
Forward Guidance
Laureate is updating its full-year 2022 guidance to reflect an improved outlook.
Positive Outlook
- Total enrollments are now expected to be in the range of 420,000 to 423,000 students, reflecting growth of 9% on an organic basis versus 2021.
- Revenues are now expected to be in the range of $1,223 million to $1,231 million, reflecting growth of 13% on an as-reported basis and 12% on an organic constant currency basis versus 2021.
- Adjusted EBITDA is now expected to be in the range of $331 million to $337 million, reflecting growth of 31%-33% on an as-reported basis and 23%-25% on an organic constant currency basis versus 2021.