Laureate Education(LAUR) - 2024 Q4 - Annual Results

Revenue and Income - Revenue for Q4 2024 increased 3% to $423.4 million, with a 10$124.2 million, up from $110.0 million in Q4 2023[5] - Net income for Q4 2024 was$93.6 million, compared to $41.7 million in Q4 2023, driven by foreign currency exchange effects and higher operating income[5] - Adjusted EBITDA for Q4 2024 was$141.1 million, an increase from $131.3 million in Q4 2023[6] - For the full year 2024, revenue was$1,566.6 million, a 6% increase compared to 2023, with a 7% increase on an organic constant currency basis[8] - Net income for the full year 2024 was $296.4 million, up from$107.3 million in 2023, influenced by foreign currency exchange effects and a discrete tax benefit[8] - Total revenues for FY 2024 reached $1,566.6 million, a 6$1,484.3 million in FY 2023[30] - Operating income for the three months ended December 31, 2024, was $124.2 million, up 14.2$110.0 million in the same period of 2023[30] - Net income attributable to Laureate Education, Inc. for FY 2024 was $296.5 million, compared to$107.6 million in FY 2023, reflecting a significant increase of 175.5%[30] - Adjusted EBITDA for FY 2024 was $450.1 million, an 8$418.6 million in FY 2023[31] - Basic earnings per share for FY 2024 were $1.93, up from$0.69 in FY 2023, representing a growth of 179.7%[30] - Net income for the year ended December 31, 2024, was $296.4 million, an increase of$189.1 million compared to $107.3 million in 2023, representing a growth of 176.4$450.1 million, up by $31.5 million from$418.6 million in 2023, reflecting a growth of 7.5%[36] - The company reported an adjusted net income of $208.5 million for 2024, translating to an adjusted EPS of$1.35[36] Enrollment Statistics - Total enrollments for 2024 increased by 5%, with new enrollments also up by 5%[7] - The company expects total enrollments in 2025 to be between 489,000 and 495,000, reflecting a growth of 4%-5%[18] - Total enrollments in Mexico increased by 7% year-over-year, reaching 258,500 as of December 31, 2024[28] - New enrollments in Peru increased by 6% year-over-year, totaling 92,100 for FY 2024[28] Cash and Assets - Cash and cash equivalents as of December 31, 2024, were $91.4 million, a slight increase from$89.4 million in the previous year[32] - Total assets decreased to $1,862.1 million from$2,125.6 million, a reduction of $263.5 million[32] - The company reported a net cash provided by operating activities of$232.7 million for 2024, a decrease of $18.1 million from$250.8 million in 2023[33] - Cash and cash equivalents at the end of the period increased to $97.9 million from$96.9 million, marking a $1.0 million increase[33] - The company’s net cash used in financing activities decreased to$166.9 million in 2024 from $201.9 million in 2023, a reduction of$35.0 million[33] Foreign Currency Effects - The company reported a foreign currency exchange gain of $50.7 million for the year ended December 31, 2024, compared to a loss of$75.7 million in 2023[30] - The company experienced a foreign currency exchange loss of $50.7 million for the year, compared to a gain of$75.7 million in 2023, indicating a negative change of $126.4 million[35] Depreciation and Working Capital - The depreciation and amortization expense for the year was$68.2 million, down from $69.6 million in 2023, a decrease of$1.4 million[35] - The company’s working capital, excluding tax accounts, showed a negative change of $36.8 million, moving from$(67.1) million in 2023 to $(103.9) million in 2024[33]