Welcome to our dedicated page for Laureate Education news (Ticker: LAUR), a resource for investors and traders seeking the latest updates and insights on Laureate Education stock.
Laureate Education, Inc. (NASDAQ: LAUR) stands as the largest global network of degree-granting higher education institutions. With an impressive enrollment of more than one million students across over 70 institutions in 25 countries, Laureate is a leader in the education sector. The company offers high-quality, career-oriented undergraduate, graduate, and specialized degree programs in a diverse array of academic disciplines such as architecture, business, design, education, engineering, health sciences, medicine, law, and hospitality management.
Laureate’s mission is deeply rooted in the belief that society thrives when its students, professors, and employees contribute positively to their communities. This philosophy is encapsulated in their motto ‘here for good,’ which underscores their commitment to creating lasting social impact. In alignment with these values, Laureate is a certified B Corporation® and has been operating as a U.S. public benefit corporation since 2015.
The company’s geographical segments include robust operations in Peru and Mexico. Laureate operates five institutions in these regions, enrolling over 420,000 students. These institutions are dedicated to academic excellence and innovation, striving for market-leading employability outcomes and working to make higher education more accessible.
Laureate’s financial health is strong, as evidenced by its recent achievements and ongoing projects. For example, the company has announced an increase in full-year 2023 guidance and a new $100 million share repurchase authorization, reflecting confidence in its operational and financial strategies. Additionally, Laureate has declared a special cash dividend of $0.70 per common share, further demonstrating its commitment to shareholder returns.
Laureate continues to innovate and expand its offerings, ensuring that students receive the best possible education and training. The company’s emphasis on integrating technology and optimizing internal processes through initiatives like Excellence-in-Process (EiP) reflects its dedication to operational efficiency and academic quality.
For more information, the latest news, and updates, interested parties can visit the company's Investor Relations section on their website at www.laureate.net.
Laureate Education reported Q4 2020 results with revenues decreasing 19% to $285.2 million compared to Q4 2019. Operating income fell by 36% to $36.9 million. Notably, net income for Q4 2020 was $379 million, boosted by a gain from discontinued operations. For the full year, total revenue decreased 15% to $1,024.9 million, affected by currency fluctuations and the pandemic. The company expects 2021 revenues between $1,000 to $1,040 million, projecting adjusted EBITDA of $180 to $190 million. Strategic divestitures are anticipated to generate approximately $1.95 billion in proceeds.
Laureate Education, Inc. (NASDAQ: LAUR) will announce its financial results for Q4 and the fiscal year ending December 31, 2020, on February 25, 2021, prior to the market opening. A conference call for investors and analysts is scheduled for 8:30 a.m. ET to discuss these results and future outlook. Participants can join the call by dialing specific numbers for U.S. and international callers. Replays will be available until March 4, 2021. More information, including the earnings release and slides, will be accessible on their Investor Relations webpage.
Laureate Education (NASDAQ: LAUR) completed its cash tender offer for up to $650 million of its 8.250% Senior Notes due 2025, expiring on December 10, 2020. Validly tendered notes amounted to $500,000, all of which will be accepted. The company will make payments at 100% of the principal plus accrued interest, totaling approximately $505,041.67, expected on December 15, 2020. This release serves for informational purposes and does not constitute an offer to purchase notes in jurisdictions where such offers are illegal.
Laureate Education (NASDAQ: LAUR) is initiating a cash tender offer to purchase up to $650 million of its 8.250% Senior Notes due 2025 at 100% of the principal amount. This offer follows the sale of its operations in Australia and New Zealand, providing the funds from cash on hand. The offer expires on December 10, 2020. Following a previous tender offer for $300 million, where $775,000 was validly tendered, all valid tenders were accepted. Payments for the Notes will be made on November 16, 2020, totaling approximately $777,664.06.
Laureate Education (LAUR) reported a 12% decline in Q3 2020 revenue, totaling $243.5 million, largely due to currency fluctuations and the impact of COVID-19. The operating loss surged to $(318.2) million driven by $323.4 million in impairment charges. For the nine months ended September 30, 2020, revenue fell 14% to $739.7 million, with a net loss of $(997.7) million. However, Adjusted EBITDA increased to $50.4 million in Q3 and $115.1 million year-to-date, supported by cost controls. The board approved a $300 million share repurchase program to enhance shareholder value.
Laureate Education, Inc. (NASDAQ: LAUR) has successfully closed the sale of its Australian and New Zealand operations, including Torrens University Australia and Think Education, to Strategic Education, Inc. (NASDAQ: STRA) for US$642.7 million. After adjustments, Laureate received approximately US$650 million post-transaction fees. CEO Eilif Serck-Hanssen expressed good wishes for the buyer and the institutions involved, highlighting the continued delivery of quality education. This strategic move directs Laureate's focus on enhancing its educational impact.
Laureate Education has signed a definitive agreement with Ânima Holding for the sale of its Brazilian operations valued at R$4.6 billion (approximately US$765 million). After accounting for a termination fee to Ser Educacional, the net proceeds are around R$4.4 billion. The transaction includes R$3.8 billion in cash, with potential additional payments of R$203 million based on performance metrics. This deal is expected to close by Q2 2021, pending regulatory and shareholder approvals. CEO Eilif Serck-Hanssen expressed confidence in the future of Brazilian institutions under Ânima's ownership.
Laureate Education (NASDAQ: LAUR) has received a superior all-cash proposal from Ânima Holding for its Brazilian operations, approximately R$500 million above a previous agreement with Ser Educacional. The proposal includes an additional earn-out of R$200 million based on performance metrics and covers a R$180 million termination fee to Ser. Laureate plans to terminate its existing agreement with Ser and pursue the transaction with Ânima. Ser has sought litigation to halt the termination, but Laureate intends to fight this and proceed with the new offer.
Laureate Education, Inc. (NASDAQ: LAUR) will announce its third-quarter financial results for the period ending September 30, 2020, on November 5, 2020, before market open. A conference call for investors and analysts is scheduled for 8:30 a.m. ET on the same day to discuss the results and future business outlook. Interested listeners can join the call by dialing the specified numbers and will have access to a replay until November 12, 2020. More details, including the earnings release and related materials, will be available on their Investor Relations website.
Laureate Education (NASDAQ: LAUR) has entered into a definitive agreement with Fundación Nasser to transfer control of Fundaempresa, which oversees its operations in Honduras, including Universidad Tecnológica Centroamericana (UNITEC) and Centro Universitario Tecnológico (CEUTEC). Both institutions serve over 23,000 students across various programs. The transaction, expected to close in H1 2021, is contingent on regulatory approval. Fundación Nasser aims to continue the mission of enhancing higher education accessibility in Honduras, aligning with Laureate's values and objectives.
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