Adtalem Global Education (ATGE) Tops Q1 EPS by 1c

Adtalem Global Education (NYSE: ATGE) reported Q1 EPS of $0.45, $0.01 better than the analyst estimate of $0.44. Revenue for the quarter came in at $294.2 million versus the consensus estimate of $296.13 million.

Adtalem Outlook

Fiscal 2019 second quarter revenue is expected to increase approximately 3 to 4 percent compared to the prior year. Second quarter operating costs before special items are expected to be up 5 to 6 percent compared to the prior year. The second quarter outlook assumes an exchange rate of 3.75 Brazilian Real to the U.S. Dollar.

Fiscal 2019 full year revenue is expected to increase approximately 4 percent compared to the prior year. The effective income tax rate is expected to be in the 17 to 18 percent range. Earnings per share from continuing operations before special items are expected to grow in the 2 to 3 percent range compared to the prior year. The full year outlook assumes an exchange rate of 3.70 Brazilian Real to the U.S. Dollar. Full year capital spending is expected to be in the $70 to $75 million range, including approximately $25 to $30 million for the relocation of RUSM to Barbados. Adtalem’s outlook excludes potential charges related to restructuring plans and the pending ownership transfer of DeVry University and Carrington College.

For earnings history and earnings-related data on Adtalem Global Education (ATGE) click here.

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