TAL Education Posts Wider Adj. Loss In Q4; Net Revenues Down 60.3%

(RTTNews) - TAL Education Group (TAL) posted a non-GAAP net loss per ADS of $0.17, in the fourth quarter of fiscal 2022 compared to a loss of $0.14, prior year. On average, five analysts polled by Thomson Reuters expected the company to report a loss per share of $0.12, for the quarter. Analysts' estimates typically exclude special items. Non-GAAP net loss attributable to TAL was $108.0 million, compared to a non-GAAP net loss attributable to TAL of $88.7 million, prior year.

Net loss attributable to TAL was $108.1 million, compared to a net loss attributable to TAL of $169.0 million, last year. Net loss per ADS was $0.17 compared to a loss of $0.27.

In the fourth quarter, TAL reported net revenues of $541.2 million, a 60.3% decrease from last year. Analysts on average had estimated $1.33 billion in revenue.