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Mar 31, 2020
Adtalem Q3 2020 Earnings Report
Adtalem reported a solid third quarter with revenue growth and enhanced profitability.
Key Takeaways
Adtalem Global Education reported a 4.9% increase in revenue, reaching $271.5 million. Diluted earnings per share were $2.83, and operating income from continuing operations was $54.5 million. Net income attributable to Adtalem was $150.8 million, driven by a pre-tax unrealized gain of $111.8 million from a currency hedge.
Revenue of $271.5 million increased 4.9% compared with the prior year.
Diluted earnings per share was $2.83 compared with $0.64 in the prior year.
Operating income from continuing operations was $54.5 million compared with $45.6 million in the prior year.
Net income attributable to Adtalem was $150.8 million, driven by a pre-tax unrealized gain of $111.8 million from a currency hedge associated with our Adtalem Brazil transaction, compared with $37.9 million in the prior year.
Adtalem
Adtalem
Forward Guidance
Adtalem withdrew its previously issued guidance for fiscal year 2020 due to the rapidly evolving and difficult to measure near-term financial impact of the COVID-19 pandemic.