Adtalem Global Education Anticipates Better Than Expected FY22

  • Adtalem Global Education Inc ATGE reported fourth-quarter FY21 revenue growth of 7.95% year-on-year, to $280.37 million, missing the analyst consensus of $284.38 million.
  • Medical and Healthcare segment revenue increased 5.7% Y/Y, and financial services rose 17.8%.
  • The operating expenses rose 0.9% Y/Y.
  • The operating margin was 14.3%, and operating income for the quarter rose 85.3% to $40.2 million.
  • The company held $1.3 billion in cash and equivalents as of June 30, 2021.
  • Net cash provided by operating activities totaled $55.9 million with a free cash flow of $42.1 million.
  • Adjusted EPS of $0.70 met the analyst consensus estimate.
  • "We took advantage of strong demand for our programs and offerings in the quarter, and we look forward to demonstrating the significant value Walden will bring to our students, employer partners, and shareholders," said CEO Lisa Wardell.
  • Outlook: Adtalem sees FY22 revenue of $1.685 billion - $1.735 billion versus the consensus of $1.20 billion.
  • The company expects FY22 adjusted EPS of $4.20 - $4.45, versus the consensus of $3.30.
  • Price Action: ATGE shares closed lower by 2.45% at $34.60 on Thursday.
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