The following is a summary of the Laureate Education Inc. (LAUR) Q2 2024 Earnings Call Transcript:
Financial Performance:
Q2 revenue was $499 million, with adjusted EBITDA at $187 million.
Total enrollments expected to remain in the range of 467,000 to 473,000 students, reflecting growth of 4% to 5% year over year.
Laureate repurchased approximately $72 million of its common stock during the first six months of the year.
Business Progress:
Solid operating performance for Q2 and on track to deliver 2024 commitments.
Continued focus on returning capital to shareholders with significant share repurchases.
Favorable growth in enrollments, especially in Mexico, driven by various sector-specific factors and positive market dynamics.
Opportunities:
Expected macroeconomic recovery in Peru anticipated to benefit from increased enrollments and normalized growth rates by 2025.
Strategic focus on expanding academic excellence and innovation, including program expansions and digital offerings.
Positive market dynamics in Mexico and Peru, supported by the expansion of the middle class and higher education participation rates.
Risks:
Anticipated foreign exchange volatility during the Mexican presidential transition.
Enhanced discounts and scholarships during economic recovery in Peru led to a decrease in adjusted EBITDA.
Dependency on enrollment growth and macroeconomic stability in both key markets.
More details: Laureate Education IR
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