TAL Education Group (NYSE:TAL) Q4 2020 Earnings Conference Call April 28, 2020 8:00 AM ET Company Participants Echo Yan - Director IR Rong Luo - CFO Linda Huo - VP Finance Conference Call Participants Alex Xie - Credit Suisse Mark Li - Citigroup Yuzhong Gao - CICC Securities Sheng Zhong - Morgan Stanley Felix Liu - UBS Alex Liu - China Renaissance Operator Ladies and gentlemen, thank you for standing by and welcome to Q4 and FY2020 TAL Education Group Earnings Conference Call. At this time, all participants ...

TAL Education Group (NYSE:TAL) Q3 2020 Results Earnings Conference Call January 21, 2020 8:00 AM ET Company Participants Echo Yan - Investor Relations Director Rong Luo - Chief Financial Officer Linda Huo - Vice President of Finance Conference Call Participants Yuzhong Gao - CICC Securities Mark Li - Citigroup DS Kim - J.P. Morgan Sheng Zhong - Morgan Stanley Alex Xie - Credit Suisse Alex Liu - China Renaissance Lucy Yu - Bank of America Merrill Lynch Operator Ladies and gentlemen, thank you for standing by ...

TAL Education Group (NYSE:TAL) Q2 2020 Results Earnings Conference Call October 24, 2019 8:00 AM ET Company Participants Echo Yan - Investor Relations Director Rong Luo - Chief Financial Officer Linda Huo - Vice President of Finance Conference Call Participants Alex Xie - Credit Suisse Yuzhong Gao - CICC Mark Li - Citi Sheng Zhong - Morgan Stanley Alex Liu - China Renaissance Lucy Yu - Bank of America Merrill Lynch Felix Liu - UBS Operator Ladies and gentlemen, thank you for standing by, and welcome to the ...

TAL Education Group (NYSE:TAL) Q1 2020 Earnings Conference Call July 25, 2019 8:00 AM ET Company Participants Echo Yan - Investor Relations Director Rong Luo - Chief Financial Officer Linda Huo - Vice President of Finance Conference Call Participants Sheng Zhong - Morgan Stanley Alex Sierre - Credit Suisse Mark Li - Citi Lucy Yu - Bank of America Operator Thank you for standing by, and welcome to the TAL Education Group First Fiscal Quarter 2020 Earnings Conference Call. At this time, all participants are i ...

Financial Data and Key Metrics Changes - Revenue growth in Q3 was 35.3% year-over-year to USD 586 million, and 41.4% in RMB terms [5] - GAAP income from operations increased by 59.2% to USD 71 million, while non-GAAP income from operations grew by 63.5% to USD 92.9 million [5][18] - Gross profit was USD 318.4 million, up 50.1% year-over-year, with a gross margin of 54.3% compared to 49% in the same period last year [16] - Selling and marketing expenses increased by 64.4% to USD 101.6 million [16] Business Line Data and Key Metrics Changes - Small class and other businesses accounted for 79% of total net revenue, with a revenue growth rate of 26% in USD terms [6][7] - Xueersi Peiyou Small Class represented 65% of total net revenue, with a 23% increase in revenue in USD terms [7] - Online courses revenue grew by 157% in USD terms, contributing 15% of total revenues and 40% of total enrollments [14] Market Data and Key Metrics Changes - Revenue from top five cities grew by 19% year-over-year, accounting for 59% of Xueersi Peiyou Small Class business [9] - Revenue generated from cities other than the top five grew by 30% in USD terms [9] - The company had 666 learning centers in 54 cities across China by the end of November 2018 [13] Company Strategy and Development Direction - The company aims to advance education through technology and is focused on expanding its offerings in lower-tier cities and rural areas [22][23] - The company is adjusting its operations in response to ongoing education reforms and regulations [22] - Future revenue for Q4 is expected to be between USD 670.5 million and USD 685.6 million, representing a year-over-year increase of 33% to 36% [24] Management Comments on Operating Environment and Future Outlook - Management noted that the education industry is undergoing reforms aimed at improving service standards [22] - The company is cautious about future growth due to market dynamics and regulatory changes [32] - Management emphasized the importance of adapting to new policies and maintaining operational flexibility [59] Other Important Information - Deferred revenue balance decreased by 19.4% due to changes in tuition fee collection schedules [21] - Capital expenditures for Q3 were USD 73 million, primarily for leasehold improvements and technology investments [20] Q&A Session Summary Question: Guidance on margin for next quarter and growth outlook for online and offline - Management indicated that Q3 margins improved due to slower offline expansion and reduced promotional activities compared to Q2 [26][30] Question: Impact of deferred revenue by new tuition collection policy - Management confirmed that the new policy has impacted deferred revenue and cash flow, with a 30% year-over-year increase in deferred revenue when adjusted for changes [36][38] Question: Online promotion plans for summer 2019 - Management stated that marketing strategies will evolve, and specific budget details for summer promotions are still being finalized [39][42] Question: Updates on offline and online regulations - Management noted ongoing compliance with government regulations and the closure of unqualified centers to align with standards [46][48] Question: Online investment outlook for FY20 - Management expressed confidence in online growth but acknowledged the need for innovative marketing strategies to maintain efficiency [50][51] Question: Current utilization rates of learning centers and future expansion - Management reported slight increases in utilization rates and emphasized a balanced approach to expansion across online and offline segments [60][62]