The following is a summary of the Bright Scholar Education Holdings Limited (BEDU) Q2 2024 Earnings Call Transcript:
Financial Performance:
Bright Scholar reported a 17.2% increase in total revenues in Q2.
The gross profit surged 40.2% and adjusted EBITDA was RMB33.7 million, versus a loss in the same period last year.
The Overseas Schools business and Complementary Education Services registered a revenue increase of 20.5% and 19.5% respectively.
Business Progress:
The company is focused on restoring growth and profitability, including strengthening its balance sheet.
Bright Scholar's Overseas School segment saw a 20.5% revenue increase in Q2, along with a 20% increase in student registrations for the upcoming academic year.
There are ongoing investments in enhancing the quality of educational offerings and tailoring products to meet diverse student needs.
A business portfolio restructuring is in progress to focus on core areas, and the company is determined to optimize these changes to scale and increase high-return business.
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