ATGE - Adtalem Global Education falls 18% postmarket after slashing 2022 forecast

Adtalem Global Education (NYSE:ATGE) dropped 18% postmarket after it slashed its 2022 forecast, citing continued COVID-19 headwinds. For 2022, ATGE cut its guidance for adj. revenue to $1.35B-1.39B, vs. prior outlook of $1.68B-1.74B. ATGE also reduced its 2022 adj. EPS forecast to $2.90-3.10, vs. prior outlook of $4.20-4.45. ATGE said COVID-related headwinds associated with the Omicron variant continues to negatively impact enrollments. The revised guidance takes into account the pending sale of Financial Services segment, thereby moving it to discontinued operations. ATGE stock declined 28.4% in the past 1 year.

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Adtalem Global Education falls 18% postmarket after slashing 2022 forecast