Laureate Education Boosts 2018 Sales Outlook; Posts Q1 Profit On Gains

(RTTNews) - Laureate Education, Inc. (LAUR) on Wednesday raised its full-year 2018 revenue outlook to a range of $4.26 billion to $4.30 billion from the previously projected range of $3.885 billion to $3.920 billion.

On average, analysts polled by Thomson Reuters expect the company to report revenues of $3.92 billion for the year. Analysts' estimates typically exclude special items.

For fiscal 2018, the company also projects total enrollments in the range of 1.025 million to 1.030 million and capex spending at about 7 percent of revenue.

The updating of outlook reflects the fully consolidated impact of its operations in Chile, and a partial year impact for asset sales and recent changes in foreign currency rates.

For the first quarter, the company posted net income of $111.5 million or $0.59 per share, compared to a net loss of $161.7 million or $1.05 per share in the prior-year quarter.

Results for the latest quarter included a $298.0 million gain on sale of subsidiaries in Cyprus, Italy and China during the quarter.

Revenues for the quarter increased to $885.3 million from $855.9 million in the same quarter last year. It was up 3 percent on an organic constant currency basis.

Analysts expected a quarterly loss of $0.55 per share on revenues of $841.06 million.

Total enrollments during the quarter declined 2 percent to 1.07 million, but increased 2 percent on an organic basis, excluding divestitures.