Laureate Education, Inc. Reports Earnings Results for the Second Quarter and Six Months Ended June 30, 2023
August 03, 2023 at 07:17 am EDT
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Laureate Education, Inc. reported earnings results for the second quarter and six months ended June 30, 2023. For the second quarter, the company reported sales was USD 462.07 million compared to USD 385.38 million a year ago. Net income was USD 56.18 million compared to USD 43.42 million a year ago. Basic earnings per share from continuing operations was USD 0.38 compared to USD 0.24 a year ago. Diluted earnings per share from continuing operations was USD 0.38 compared to USD 0.23 a year ago. Basic earnings per share was USD 0.35 compared to USD 0.26 a year ago. Diluted earnings per share was USD 0.35 compared to USD 0.25 a year ago.
For the six months, sales was USD 713.32 million compared to USD 594.94 million a year ago. Net income was USD 29.57 million compared to net loss of USD 0.788 million a year ago. Basic earnings per share from continuing operations was USD 0.21 compared to basic loss per share from continuing operations of USD 0.03 a year ago. Diluted earnings per share from continuing operations was USD 0.21 compared to diluted loss per share from continuing operations of USD 0.03 a year ago. Basic earnings per share was USD 0.18. Diluted earnings per share was USD 0.18.
Laureate Education, Inc. operates a portfolio of degree-granting higher education institutions (Laureate International Universities network) in Mexico and Peru. Laureate International Universities network offers a range of undergraduate and graduate degrees through campus-based, online and hybrid programs. It has approximately 450,000 students enrolled at five institutions with over 50 campuses. It has two segments: Mexico and Peru. It owns Universidad del Valle de Mexico (UVM) and Universidad Tecnologica de Mexico (UNITEC) in Mexico. It also owns Universidad Peruana de Ciencias Aplicadas (UPC), Universidad Privada del Norte (UPN) and CIBERTEC institution in Peru. Its institutions in Mexico and Peru offer traditional higher education students a private education alternative, with multiple brands and price points in each market and program. The Company offers various programs, including medicine and health sciences, engineering and information technology, and business and management.