Adtalem Q1 2023 Earnings Report
Key Takeaways
Adtalem Global Education reported a solid first quarter with revenue increasing by 22.7% to $354.6 million due to the Walden acquisition, and adjusted earnings per share increasing by 151.4% to $0.88. The company saw improvements in operating and net income, driven by integration and cost reduction efforts, and reaffirmed its fiscal year 2023 revenue and adjusted EPS guidance.
Revenue increased by 22.7% to $354.6 million compared to the prior year.
Diluted earnings per share increased to $0.05, while adjusted earnings per share increased to $0.88.
Operating income was $23.1 million, compared to an operating loss in the prior year, with adjusted operating income increasing by 78.7% to $65.1 million.
Net income was $2.2 million, compared to a net loss in the prior year, with adjusted net income increasing by 133.1% to $41.0 million.
Adtalem
Adtalem
Forward Guidance
Adtalem reaffirmed its guidance for fiscal year 2023, expecting revenue to be within the range of $1,380 million and $1,450 million, and adjusted earnings per share to be within the range of $3.95 to $4.20.