Adtalem Reports Strong Fiscal Fourth Quarter and Full Year 2023 Results

Company Exceeds Guidance with Revenue and Earnings

Highlights:

CHICAGO, March 16, 2023 /PRNewswire/ -- Adtalem Global Education Inc. (NYSE: ATGE), a leading global provider of professional education, today reported financial results for its fiscal fourth quarter and full year 2023.

For the fiscal fourth quarter ended December 31, 2022, Adtalem reported total revenue of $555.2 million, an increase of 9.3% compared to the same period in the prior year. Net income attributable to Adtalem for the quarter was $87.8 million, or $1.02 per diluted share, compared to net income of $81.5 million, or $0.95 per diluted share, in the prior-year quarter.

For the full year 2023, Adtalem reported total revenue of $2.24 billion, an increase of 8.3% compared to the prior year. Net income attributable to Adtalem for the year was $339.1 million, or $3.99 per diluted share, compared to net income of $317.7 million, or $3.74 per diluted share, in the prior year.

"We are pleased to report strong financial results for both our fourth quarter and full year 2023, exceeding our guidance on both revenue and earnings," said Lisa Wardell, Adtalem's President and Chief Executive Officer. "Our performance was driven by continued enrollment growth in our core healthcare and technology programs, as well as the successful integration of Walden University. We remain focused on executing our strategic priorities, including expanding our reach into new markets and developing innovative educational solutions that meet the needs of our students and employers."