Adtalem Q2 2024 Earnings Report
Key Takeaways
Adtalem Global Education reported an 8.4% increase in revenue and a 6.2% increase in total student enrollment for the second quarter of fiscal year 2024. Diluted earnings per share were $0.98, and adjusted EPS was $1.23, representing a 5.1% year-over-year growth. The company also raised its fiscal year 2024 guidance for revenue and adjusted earnings per share.
Revenue increased by 8.4% year-over-year to $393.2 million.
Total student enrollment grew by 6.2% year-over-year to 81,772.
Diluted earnings per share reached $0.98, while adjusted EPS was $1.23, a 5.1% increase year-over-year.
The company completed its $300 million share repurchase program and authorized a new $300 million program.
Adtalem
Adtalem
Forward Guidance
Adtalem raised its fiscal year 2024 outlook, expecting revenue between $1,520 million and $1,560 million, and adjusted earnings per share between $4.55 and $4.75.
Positive Outlook
- Revenue guidance raised to $1,520 million - $1,560 million (previously $1,470 million - $1,530 million).
- Adjusted EPS guidance raised to $4.55 - $4.75 (previously $4.25 - $4.45).
- Strong top- and bottom-line performance expected to continue.
- Company is well-positioned to impact the U.S. healthcare workforce.
- Focus on delivering practice-ready clinicians at scale.
Challenges Ahead
- Uncertainty of special items that may be incurred in the future.
- Risk factors described in the company's most recent Annual Report on Form 10-K.
- Factors that could cause actual results to differ materially from forward-looking statements.
- No reconciliation of non-GAAP guidance measures to corresponding GAAP measures is available.
- The company assumes no obligation to publicly update or revise its forward-looking statements.