Adtalem Q1 2021 Earnings Report
Key Takeaways
Adtalem Global Education reported a 5.4% increase in revenue to $268.2 million and a diluted EPS of $0.38. Excluding special items, diluted EPS from continuing operations was $0.78, a 129% increase. The company experienced double-digit enrollment growth in Chamberlain University and solid single-digit growth across its medical and veterinary schools. COVID-19 impacted revenue and EPS by approximately $14 million and $0.11, respectively.
Revenue increased by 5.4% compared to the prior year.
New and total student enrollment increased by 12.2% and 10.8%, respectively.
Diluted earnings per share was $0.38, with diluted earnings per share from continuing operations excluding special items at $0.78, a 129% increase.
Operating income was $36.7 million, with operating income excluding special items at $54.4 million, a 97.7% increase.
Adtalem
Adtalem
Adtalem Revenue by Segment
Forward Guidance
Adtalem expects revenue growth of 5-7% and growth for diluted earnings per share from continuing operations excluding special items of 25-30% for the full fiscal year 2021.
Positive Outlook
- Revenue growth of 5-7% is expected.
- Diluted earnings per share from continuing operations excluding special items is expected to grow 25-30%.
- Strong enrollment trends in Medical and Healthcare.
- Solid performance in Financial Services.
- Strategic investments driving growth.
Challenges Ahead
- Forward-looking statements are subject to risks and uncertainties.
- COVID-19 pandemic may continue to impact results.
- Restructuring expenses may impact earnings.
- Business acquisition and integration expenses may impact earnings.
- Potential impact of any business or asset acquisitions or dispositions during the remainder of fiscal year 2021.
Revenue & Expenses
Visualization of income flow from segment revenue to net income