The following is a summary of the Laureate Education, Inc. (LAUR) Q3 2024 Earnings Call Transcript:
Financial Performance:
Laureate Education reported Q3 2024 revenue of $369 million and adjusted EBITDA of $91 million, both surpassing earlier guidance.
Revenue growth was strongly supported by increased new enrollments in Peru, contributing to a year-over-year revenue increase of 9% and a 22% increase in adjusted EBITDA on a constant currency basis.
An updated constant currency outlook for 2024 projects a $50 million increase in revenue and a $6 million increase in adjusted EBITDA.
Business Progress:
The company noted significant enrollment growth in Peru and Mexico, with new enrollments up 12% and 4% respectively.
Laureate plans to continue capital distribution to shareholders following a successful $100 million stock repurchase and announcing another such program.
The company remains focused on expanding its fully online program offerings, particularly in Mexico.
Opportunities:
Enhanced fiscal discipline and public-private collaboration under the new Mexican government are expected to sustain growth for the company.
Risks:
Economic activities were pulled back post the Mexican presidential election, affecting education sector investments and possibly impacting future enrollment commitments.
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