Q3 2024 Adtalem Global Education Inc Earnings Call Transcript
Key Points
- Adtalem Global Education Inc reported a strong financial performance with a 11.8% increase in revenue to $413 million compared to the previous year.
- Total enrollment grew by 7.8%, demonstrating continued demand for Adtalem's educational offerings.
- Adjusted earnings per share increased by 32.7%, indicating improved profitability and operational efficiency.
- Significant growth in new student enrollments at Walden, particularly in advanced nursing and social and behavioral sciences degrees.
- Adtalem raised its fiscal year 2024 revenue guidance to $1.56 billion to $1.58 billion and adjusted EPS guidance to $4.80 to $5.00, reflecting confidence in continued strong performance.
- Despite overall growth, total enrollment in the medical and veterinary segment decreased by 4.5% year over year.
- The medical schools faced challenges in execution, impacting enrollment numbers, although remediation efforts are underway.
- Increased competition in medical education from DO schools and other institutions in the lower 48 states.
- Potential regulatory challenges with the Department of Education regarding gainful employment regulations, particularly for veterinary programs.
- Investments in marketing, student support services, and other expenses have slightly offset the underlying operational leverage, as seen in the 40 basis points decrease in adjusted EBITDA margin for Chamberlain.
Greetings and welcome to the Adtalem Global Education's Third Quarter Fiscal Year 2024 earnings. At this time, all participants are in a listen only mode. A brief question and answer session will follow the formal presentation. (Operator Instructions) As a reminder, this conference is being recorded. It is now my pleasure to introduce your host, Jonathan Spitzer's, Vice President of Investor Relations. Thank you. You may begin.
Good afternoon and welcome to our earnings call for the third quarter of fiscal year 2020 for results.
On the call with me today are Steve Beard, President and Chief Executive Officer of A.D.A.M. global education from Bob Fehlman, Chief Financial Officer.
Before I hand the call over to Steve. I will, as usual, take you through the safe legal, Safe Harbor and cautionary declarations. Certain statements and projections of future results made in this presentation constitute forward-looking statements that are based on current market, competitive and regulatory
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