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Dec 31, 2023
Laureate Q4 2023 Earnings Report
Laureate's Q4 2023 financial results were reported, showing an increase in revenue and operating income compared to the same period last year.
Key Takeaways
Laureate Education reported an 18% increase in revenue to $409.4 million and operating income of $110.0 million for Q4 2023. Net income increased to $41.7 million, and Adjusted EBITDA was $131.3 million. The company also announced a new $100 million share repurchase authorization.
Revenue increased by 18% to $409.4 million.
Operating income increased to $110.0 million.
Net income increased to $41.7 million.
Adjusted EBITDA increased to $131.3 million.
Laureate
Laureate
Forward Guidance
Laureate expects continued growth opportunities in 2024, with stronger growth in Mexico and more muted growth in Peru due to the current economic downturn.
Positive Outlook
- Total enrollments expected to be in the range of 467,000 to 473,000 students, reflecting growth of 4%-5% versus 2023.
- Revenues expected to be in the range of $1,553 million to $1,568 million, reflecting growth of 5%-6% on an as-reported basis and 5%-6% on an organic constant currency basis versus 2023.
- Adjusted EBITDA 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.
- Stronger growth rates are expected in Mexico due to the positive macroeconomic backdrop.
- An economic recovery is expected in the second half of the year for Peru.
Challenges Ahead
- Growth is expected to be more muted in Peru in 2024 due to the current economic downturn.
- Foreign exchange rate fluctuations may impact results.
- The company cannot reconcile projected Adjusted EBITDA to projected net income without unreasonable effort due to uncertainty in estimating variables and individual adjustments.
- The forward-looking statements are subject to risks and uncertainties.
- Actual results may differ materially from expectations due to various factors.