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Wednesday, November 8, 2017

=Laureate Education (LAUR) reported earnings on Wed 8 Nov 2017 (a/h)

Laureate Education misses by $0.57, beats on revs; guides FY17 revs below consensus; names Jean-Jacques Charhon as CFO 
  • Reports Q3 (Sep) loss of $1.02 per share, $0.57 worse than the Capital IQ Consensus of ($0.45); revenues rose 5.8% year/year to $983.4 mln vs the $972.59 mln Capital IQ Consensus.
    • Note: Results were,  in part, impacted by the earthquake in Mexico which resulted in the deferral of approximately $11.7 million of revenue (due to class disruptions) from Q3 to Q4 as well as approximately $2.7 million of operating expenses incurred related to repairs.
  • Co issues downside guidance for FY17, sees FY17 revs of approx $4.345 bln vs. $4.37 bln Capital IQ Consensus Estimate and vs prior guidance of $4.345-4.386 bln.
  • Outlook for Fiscal 2017: Total enrollments in the range of 1,059,000 to 1,064,000, representing 1.5-2.0% growth as compared to December 31, 2016, reflecting an estimated 4,000-5,000 student loss in Mexico from the earthquake, and the enrollment declines experienced in the U.S. for the most recent intake.
  • Co also names Jean-Jacques Charhon as CFO. Charhon will join Laureate on January 1, 2018 and will be based in Baltimore. He will report to Eilif Serck-Hanssen, Laureate's current Chief Administrative Officer, who will become CEO on that date. Charhon spent eight years with General Electric (GE) in senior financial positions, culminating in his role as CFO of GE Healthcare for the Americas. He was Hewlett Packard's CFO of Personal Systems, and then COO of its Enterprise Services division. He worked with Novartis with responsibilities as CFO for Consumer Health and as head of financial planning and analysis, and investor relations. Most recently, Charhon was CFO at Purdue Pharma. 

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