The following is a summary of the Adtalem Global Education Inc. (ATGE) Q3 2024 Earnings Call Transcript:
Financial Performance:
Adtalem reported Q3 revenue of $413 million, an 11.8% rise compared to the previous year.
Operating margin has expanded and the adjusted earnings per share were $1.50, showing a 32.7% growth compared to the previous year.
For fiscal year 2024, revenue guidance has been raised to $1.56 billion to $1.58 billion.
Adjusted EPS guidance for the fiscal year 2024 is projected to be between $4.80 and $5.
Business Progress:
The company showed a total enrollment growth of 7.8%, marking the third consecutive quarter of growth.
Chamberlain University and Walden University were notable performers, with Walden witnessing the strongest new enrollment growth in its history.
The company is making strategic investments in marketing, technology, and student support services to enhance its leading market position.
Adtalem expects margin expansion in upcoming quarters, with an EBITDA level of 24% anticipated for the full year and further expansion expected in fiscal years 2025 and 2026.
With strong enrollment trends at Chamberlain and Walden, the company anticipates continued growth into the next fiscal year.
More details: Adtalem Global Education IR
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