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Laureate Education Reports Financial Results for the Fourth Quarter and Full-Year 2024 and Provides 2025 Outlook
LAURLaureate Education(LAUR) Newsfilter·2025-02-20 12:30

Core Insights - Laureate Education, Inc. reported strong financial performance for the fourth quarter and the year ended December 31, 2024, with revenue growth and margin expansion [4][5][9] Fourth Quarter 2024 Highlights - Reported revenue was 423.4million,a3423.4 million, a 3% increase from 409.4 million in Q4 2023, while organic constant currency revenue grew by 10% [5][6] - Operating income rose to 124.2millionfrom124.2 million from 110.0 million year-over-year [6][29] - Net income for Q4 2024 was 93.6million,significantlyupfrom93.6 million, significantly up from 41.7 million in Q4 2023, driven by favorable foreign currency exchange impacts and higher operating income [5][6][29] - Basic and diluted earnings per share were 0.62forQ42024[6][29]YearEndedDecember31,2024Highlights−Totalrevenuefortheyearwas0.62 for Q4 2024 [6][29] Year Ended December 31, 2024 Highlights - Total revenue for the year was 1,566.6 million, a 6% increase from 1,484.3millionin2023,withorganicconstantcurrencyrevenueup71,484.3 million in 2023, with organic constant currency revenue up 7% [9][30] - Operating income for the year increased to 374.0 million from 338.8million[9][30]−Netincomefor2024was338.8 million [9][30] - Net income for 2024 was 296.4 million, compared to 107.3millionin2023,reflectingasubstantialincreaseof107.3 million in 2023, reflecting a substantial increase of 189.1 million [9][30] - Basic and diluted earnings per share for the year were 1.93and1.93 and 1.92, respectively [9][30] Enrollment Metrics - New enrollments for FY 2024 increased by 5% compared to FY 2023, with total enrollments also up by 5% [8][9] - In Peru, new enrollments rose by 6% and total enrollments by 3%, while in Mexico, new enrollments increased by 4% and total enrollments by 7% [8][9] Balance Sheet and Cash Flow - As of December 31, 2024, the company had 91.4millionincashandcashequivalentsandgrossdebtof91.4 million in cash and cash equivalents and gross debt of 102.1 million, resulting in net debt of 10.7million[11][12]−Thecompanyrepurchasedapproximately10.7 million [11][12] - The company repurchased approximately 102 million of its common stock during 2024, with 98millionremainingunderitssharerepurchaseauthorization[12]OutlookforFiscal2025−Thecompanyanticipatescontinuedgrowthopportunitiesin2025,despiteexpectedforeigncurrencytranslationheadwindsduetotheweakeningoftheMexicanPeso[4][13]−Projectedtotalenrollmentsfor2025areexpectedtobebetween489,000and495,000students,reflectingagrowthof498 million remaining under its share repurchase authorization [12] Outlook for Fiscal 2025 - The company anticipates continued growth opportunities in 2025, despite expected foreign currency translation headwinds due to the weakening of the Mexican Peso [4][13] - Projected total enrollments for 2025 are expected to be between 489,000 and 495,000 students, reflecting a growth of 4%-5% [16] - Revenue is expected to range from 1,545 million to $1,570 million, indicating flat performance to a slight decline on an as-reported basis, but growth of 6%-7% on an organic constant currency basis [16]