Laureate Education (LAUR) Tops Q4 EPS by $1.49

Laureate Education (NASDAQ: LAUR) reported Q4 EPS of $1.81, $1.49 better than the analyst estimate of $0.32. Revenue for the quarter came in at $285.2 million versus the consensus estimate of $270.6 million.

Outlook for Fiscal 2021

Based on the current foreign exchange spot rates², Laureate currently expects its full-year 2021 results to be as follows:

Continuing Operations 2021

• Total enrollments expected to be approximately 337,000, essentially flat versus 2020;
• Revenues expected to be in the range of $1,000 to $1,040 million, reflecting a decline of 2% to growth of 2% on an organic constant currency basis versus 2020; and
• Adjusted EBITDA expected to be in the range of $180 to $190 million, reflecting a decline in growth of 8%-13% on an organic constant currency basis versus 2020. Anticipated Adjusted EBITDA in 2021 is prior to rightsizing of Corporate G&A infrastructure and includes approximately $13 million of non-cash charges related to the write-off of an indemnification asset related to a prior period acquisition.

Outlook for Fiscal 2022

Laureate anticipates that by the end of 2021, the Corporate G&A restructuring will be largely completed (following completion of the pending asset sales), the impact of the COVID-19 pandemic will mostly be abated and that the Company will return to growth levels more in-line with historical performance prior to the COVID-19 pandemic.

Based on the current foreign exchange spot rates², and the above assumptions, Laureate currently expects its full-year 2022 results to be as follows:

Continuing Operations 2022

• Total enrollments expected to be approximately 350,000, reflecting growth of 4% versus 2021 expectations;
• Revenues expected to be approximately $1,080 million, reflecting growth of 6% on an organic constant currency basis versus 2021 expectations; and
• Adjusted EBITDA expected to be approximately $280 million, reflecting growth of approximately 51% on an organic constant currency basis versus 2021 expectations, benefiting from the reduction in G&A and anticipated operational improvements.

For earnings history and earnings-related data on Laureate Education (LAUR) click here.

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