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Sep 30, 2023
Adtalem Q1 2024 Earnings Report
Adtalem reported a revenue increase and a return to total enrollment growth, driven by the Growth with Purpose strategy.
Key Takeaways
Adtalem Global Education reported a 4.1% year-over-year increase in revenue, reaching $368.8 million for the first quarter of fiscal year 2024. The company also saw a 1.9% increase in total student enrollment. Diluted earnings per share were reported at $0.25, with adjusted EPS at $0.93, a 3.3% year-over-year growth. The company raised its fiscal year 2024 revenue and adjusted EPS guidance.
Revenue increased by 4.1% year-over-year to $368.8 million.
Total student enrollment grew by 1.9% year-over-year, reaching 81,073 students.
Diluted earnings per share were $0.25, and adjusted EPS was $0.93, up 3.3% year-over-year.
Fiscal year 2024 revenue guidance was raised to $1,470 million to $1,530 million, with adjusted EPS guidance raised to $4.25 to $4.45.
Revenue by Segment
Forward Guidance
Adtalem raised its fiscal year 2024 outlook, anticipating revenue between $1,470 million and $1,530 million and adjusted earnings per share between $4.25 and $4.45.
Positive Outlook
- Revenue guidance raised from $1,460 million - $1,520 million to $1,470 million - $1,530 million.
- Adjusted earnings per share guidance raised from $4.20 - $4.40 to $4.25 - $4.45.
- Strategic transformation program achieved milestone with return to total enrollment growth.
- Confidence in fiscal 2024 expectations increased.
- Positioned to address healthcare provider shortages.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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