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New Oriental Announces Results for the Second Fiscal Quarter Ended November 30, 2024
EDUNEW ORIENTAL(EDU) Prnewswire·2025-01-21 09:18

Financial Performance - New Oriental reported net revenues of US1,038.6millionforthesecondfiscalquarterof2025,a19.41,038.6 million for the second fiscal quarter of 2025, a 19.4% increase year over year [8][12] - Operating income decreased by 9.8% year over year to US19.3 million, while non-GAAP operating income fell by 45.8% to US27.6million[16][19]−NetincomeattributabletoNewOrientalincreasedby6.227.6 million [16][19] - Net income attributable to New Oriental increased by 6.2% year over year to US31.9 million, with basic and diluted net income per ADS at US0.20andUS0.20 and US0.19 respectively [18][19] Revenue Breakdown - Total net revenues, excluding revenues from East Buy private label products and livestreaming business, increased by 31.3% year over year to US894.2million[8][12]−Theoverseastestpreparationandoverseasstudyconsultingbusinessgrewbyapproximately21.1894.2 million [8][12] - The overseas test preparation and overseas study consulting business grew by approximately 21.1% and 31.0% year over year [7] - Domestic test preparation targeting adults and university students recorded a growth of approximately 34.9% year over year [9] Operating Costs and Expenses - Operating costs and expenses for the quarter were US1,019.4 million, representing a 20.2% increase year over year [14] - Non-GAAP operating costs and expenses, excluding share-based compensation, were US1,011.1million,a23.51,011.1 million, a 23.5% increase year over year [14] - Total share-based compensation expenses decreased by 71.8% to US8.3 million [15] Cash Flow and Balance Sheet - Net operating cash inflow for the second fiscal quarter was approximately US313.3million,withcapitalexpendituresofUS313.3 million, with capital expenditures of US60.6 million [20] - As of November 30, 2024, cash and cash equivalents totaled approximately US1.4billion,withtotalassetsamountingtoUS1.4 billion, with total assets amounting to US7.6 billion [21][44] Shareholder Returns - The board approved a special cash dividend of US0.06percommonshare,totalingapproximatelyUS0.06 per common share, totaling approximately US100 million distributed [10] - A share repurchase program was extended, increasing the authorized repurchase amount from US400milliontoUS400 million to US700 million [11] Future Outlook - New Oriental expects total net revenues for the third quarter of fiscal year 2025 to be in the range of US1,007.3milliontoUS1,007.3 million to US1,032.5 million, reflecting a year-over-year increase of 18% to 21% [31]