Laureate Education Announces Increase to Share Repurchase Program

Rhea-AI Summary

Laureate Education (NASDAQ: LAUR) announced an increase in its share repurchase program from $600 million to $650 million. To date, the company has repurchased approximately $530 million worth of shares. The additional $50 million in repurchases will be financed through cash on hand or its revolving credit facility. The repurchase program is expected to conclude by the end of 2022, contingent on market conditions. This move reflects the company's commitment to enhancing shareholder value.

Positive

• Increased share repurchase program from $600 million to $650 million enhances shareholder value.
• Approximately $530 million repurchased to date indicates robust investment in stock.

Negative

• Additional $50 million in buybacks could strain liquidity if financed through credit facility.

MIAMI, March 14, 2022 /PRNewswire/ -- Laureate Education, Inc. (NASDAQ: LAUR) (the "Company") today announced that its board of directors approved an increase in the Company's existing share repurchase program, from $600 million to $650 million, to acquire shares of the Company's Common Stock.  The Company has repurchased approximately $530 million of shares under the authorization to-date.

The Company expects to finance the additional $50 million of repurchases with cash on-hand or from its revolving credit facility, or a combination thereof.  The Company also expects to complete the repurchase program by the end of 2022, dependent on market conditions.

Forward-Looking Statements

This press release includes certain statements which contain "forward-looking statements" within the meaning of the federal securities laws, which involve risks and uncertainties. You can identify forward-looking statements because they contain words such as "believes," "expects," "may," "will," "should," "seeks," "approximately," "intends," "plans," "estimates" or "anticipates" or similar expressions that concern our strategy, plans or intentions. In particular, statements regarding the impact of the Forward-looking statements are based on the Company's current expectations and assumptions. Because forward-looking statements relate to the future, they are subject to inherent uncertainties, risks and changes in circumstances that may differ materially from those contemplated by the forward-looking statements, which are neither statements of historical fact nor guarantees or assurances of future performance.  Important factors that could cause actual results to differ materially from our expectations are disclosed in our Annual Report on Form 10-K filed with the SEC on February 24, 2022, our Quarterly Reports on Form 10-Q filed and to be filed with the SEC and other filings made with the SEC.

About Laureate Education, Inc.

Laureate Education, Inc. operates five universities across Mexico and Peru, enrolling more than 375,000 students in high-quality undergraduate, graduate, and specialized degree programs through campus-based and online learning. Our universities have a deep commitment to academic quality and innovation, strive for market-leading employability outcomes, and work to make higher education more accessible. At Laureate, we know that when our students succeed, countries prosper, and societies benefit.

Investor Relations Contact:

ir@laureate.net

Media Contact:
Adam Smith
Laureate Education, Inc.  
adam.smith@laureate.net   
U.S.:  +1 (443) 255 0724

View original content:https://www.prnewswire.com/news-releases/laureate-education-announces-increase-to-share-repurchase-program-301502197.html

SOURCE Laureate Education, Inc.

FAQ

What is the latest share repurchase amount for Laureate Education (LAUR)?

Laureate Education recently increased its share repurchase program to $650 million.

How much has Laureate Education (LAUR) repurchased so far?

To date, Laureate Education has repurchased approximately $530 million in shares.

When is the share repurchase program expected to be completed for LAUR?

The share repurchase program is expected to be completed by the end of 2022, depending on market conditions.

How will Laureate Finance the additional share repurchases?

Laureate plans to finance the additional $50 million of repurchases using cash on hand or its revolving credit facility.

What impact does the share repurchase program have on LAUR's stock price?

The increase in the share repurchase program is typically viewed positively, as it can enhance shareholder value and potentially support the stock price.