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Sep 30, 2024
Laureate Q3 2024 Earnings Report
Laureate's Q3 2024 financial results were reported, showing revenue increase and improved profitability.
Key Takeaways
Laureate Education reported a 2% increase in revenue to $368.6 million and a significant rise in net income to $85.3 million, driven by a discrete tax benefit and increased operating income. Adjusted EBITDA also grew to $91.4 million. The company is increasing its full-year constant currency outlook.
Revenue increased by 2% to $368.6 million, with organic constant currency revenue up by 9%.
Operating income rose to $72.0 million, compared to $58.7 million in the third quarter of 2023.
Net income increased to $85.3 million, which includes a discrete tax benefit of $37.9 million.
Adjusted EBITDA increased to $91.4 million, compared to $78.4 million in the third quarter of 2023.
Revenue by Geographic Location
Forward Guidance
Laureate is increasing its full-year constant currency outlook and adjusting its as-reported guidance to reflect more recent foreign currency rates. Total enrollments are expected to be approximately 470,000 students, reflecting growth of approximately 5% versus 2023; Revenues are now expected to be in the range of $1,551 million to $1,556 million, reflecting growth of 5% on an as-reported basis and 7% on an organic constant currency basis versus 2023; and Adjusted EBITDA is now expected to be in the range of $447 million to $451 million, reflecting growth of 7%-8% on an as-reported basis and 9%-10% on an organic constant currency basis versus 2023.
Positive Outlook
- Total enrollments are expected to be approximately 470,000 students, reflecting growth of approximately 5% versus 2023
- Revenues are now expected to be in the range of $1,551 million to $1,556 million, reflecting growth of 5% on an as-reported basis and 7% on an organic constant currency basis versus 2023
- Adjusted EBITDA is now expected to be in the range of $447 million to $451 million, reflecting growth of 7%-8% on an as-reported basis
- Adjusted EBITDA reflecting growth of 9%-10% on an organic constant currency basis versus 2023
- Company is increasing its full-year constant currency outlook
Challenges Ahead
Revenue & Expenses
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Historical Earnings Impact
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Avg. Return Before/After Earnings
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