BEDU - Free Research Report as Laureate's Quarterly Revenues Advanced 7%
Stock Monitor: Bright Scholar Education Holdings Post Earnings Reporting
LONDON, UK / ACCESSWIRE / April 23, 2018 / Active-Investors.com has just released a free earnings report on Laureate Education, Inc. (NASDAQ: LAUR) ("Laureate"). If you want access to this report all you need to do is sign up now by clicking the following link www.active-investors.com/registration-sg/?symbol=LAUR. The Company reported its fourth quarter fiscal 2018 and full fiscal year 2018 operating and financial results on March 20, 2018. The for-profit higher education purveyor surpassed revenue estimates. Register today and get access to over 1000 Free Research Reports by joining our site below:
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Active-Investors.com is currently working on the research report for Bright Scholar Education Holdings Limited (NYSE: BEDU), which also belongs to the Services sector as the Company Laureate Education. Do not miss out and become a member today for free to access this upcoming report at:
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Active-Investors.com is focused on giving you timely information and the inside line on companies that matter to you. This morning, Laureate Education most recent news is on our radar and our team decided to put out a fantastic report on the company that is now available for free below:
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Earnings Highlights and Summary
For the three months ended December 31, 2017, Laureate's revenues grew 7% to $1.26 billion compared to $1.18 billion in Q4 2016. The Company's revenue numbers beat analysts' estimates of $1.24 billion.
For FY17, Laureate's revenues increased 3% to $4.38 billion compared to $4.24 billion in FY16.
During Q4 2017, Laureate's operating income rose 6% to $181.5 million from $171.0 million in Q4 2016.
For Q4 2017, Laureate's net income increased significantly to $200.5 million, or $0.48 per diluted share, compared to $38.5 million, or $0.27 per diluted share, in Q4 2016; primarily attributable to income tax benefits resulting from the US tax reform and, to a lesser extent, interest expenses reductions following its IPO and debt refinancing transactions completed in FY17.
Laureate's adjusted earnings before interest, tax, depreciation, and amortization (EBITDA) were $354.7 million in Q4 2017, increasing 25% compared to $284.8 million in Q4 2016.
For FY17, Laureate's net income was $93.8 million compared to $366.2 million. The Company's FY17 results included a gain of approximately $406.6 million, primarily related to the sale of the Swiss and French schools. For FY17, Laureate's loss per diluted share was $1.20 compared to earnings per diluted share of $2.76 in FY16. The Company's FY17 results reflected a $298.5 million charge related to an accretion on its Series A Preferred Stock that was issued prior to going public.
Operational Details
For FY17, Laureate's new enrollments, excluding divestitures, increased 2% to 515,700 on a y-o-y basis. The Company's new enrollment growth reflected a favorable performance in Brazil, which was up 11% to 149,900 new enrollments on a y-o-y basis, and Central America & US Campuses which gained 4% to 44,700 enrollments.
For FY17, Laureate's Andean & Iberian segment's new enrollments remained flat at 126,700, as positive growth in Peru, Spain, and Portugal was offset by new enrollment declines in Chile as a result of regulatory challenges. In Mexico, the Company's new enrollments were essentially flat to 107,300 on a y-o-y basis, due to an estimated loss of 4,000 - 5,000 enrollments as a result of the 2017 earthquake. Laureate's EMEAA new enrollments fell 6% to 51,500 on a y-o-y basis, affected by fewer enrollments at the Company's institution in Turkey, due to the reduction in quota for the number of new students permitted to be admitted into degree programs.
For FY17, Laureate's Online & Partnerships experienced new enrollment declines of 11% to 35,000 on a y-o-y basis, reflecting a planned shift for the Company's international fully online enrollments to longer length-of-stay students with higher revenue and contribution margins.
Balance Sheet and Capital Structure
Laureate ended FY17 with $468.7 million of cash on hand and $801.7 million in total liquidity, including the Company's undrawn revolver capacity. In April 2017, Laureate completed a refinancing of its corporate debt obligations, extending the maturity and reducing the cost of those obligations.
Outlook for Fiscal 2018
For the full year FY18, Laureate is forecasting total enrollments to be in the range of 955,000 to 959,000 and revenues to be in the band of $3.89 billion to $3.92 billion. The Company is estimating adjusted EBITDA to be in the range of $763 million to $770 million; capital expenditure to be approximately 7% of revenues; and free cash flow to be approximately $100 million for FY18.
Stock Performance Snapshot
April 20, 2018 - At Friday's closing bell, Laureate Education's stock was slightly down 0.07%, ending the trading session at $14.33.
Volume traded for the day: 200.29 thousand shares.
Stock performance in the last month — up 1.49%; previous six-month period — up 1.99%; and year-to-date — up 5.68%
After last Friday's close, Laureate Education's market cap was at $2.68 billion.
The stock is part of the Services sector, categorized under the Education & Training Services industry.
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