TAL Education Group (TAL) Q1 2024 Earnings Call Transcript

TAL Education Group (NYSE:TAL) Q1 2024 Earnings Conference Call July 27, 2023 8:00 AM ET

Company Participants

Jackson Ding - IR Director

Alex Peng - President and CFO

Conference Call Participants

Candis Chan - Daiwa

Felix Liu - UBS

Operator

Ladies and gentlemen, good day and thank you for standing by. Welcome to TAL Education Group First Quarter of Fiscal Year 2024 Earnings Conference Call. At this time, all participants are in a listen-only mode. After the speakers' presentation, there will be a question-and-answer session. Please be informed that today's conference is being recorded. [Operator Instructions]

I would now like to hand the conference call over to Mr. Jackson Ding, Investor Relations Director. Thank you. Please go ahead, sir.

Jackson Ding

Thank you, operator. Thank you all for joining us today for TAL Education Group's first quarter fiscal year 2024 earnings conference call. The earnings release was distributed earlier today, and you may find a copy on the company’s IR website or through the news wires.

During this call, you will hear from Mr. Alex Peng, President and Chief Financial Officer; and myself, Investor Relations Director. Following the prepared remarks, Mr. Peng and I will be available to answer your questions.

Before we continue, please note that today’s discussions will contain forward-looking statements made under the Safe Harbor provisions of the U.S. Private Securities Litigation Reform Act of 1995. Forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from our current expectations. Potential risks and uncertainties include, but are not limited to, those outlined in our public filings with the SEC. For more information about these risks and uncertainties, please refer to our filings with the SEC.

Also, our earnings release and this call include discussions of certain non-GAAP financial measures. Please refer to our earnings release, which contains a reconciliation of the non-GAAP measures to the most directly comparable GAAP measures.

I would like to turn the call over to Mr. Alex Peng. Alex, please go ahead.

Alex Peng

Thank you, Jackson. I'd also like to thank all of you for participating in today’s conference call. During this call, we will review the financial performance and business progress of the first quarter of the fiscal year 2024. After that, I will share some thoughts on the outlook for the next quarter.

So first in this quarter, unless ongoing effort to fine tune our core offerings and optimize our operations such as enrichment learning, we also achieved progress in some of our newer initiatives, taking the example as XPATH [ph], our smart device which we launched to the market at the end of the last quarter. That has really demonstrated satisfactory sales performance and has received positive customer feedback over the past few months. Furthermore, we've been making progress in our artificial intelligence strategy and are working towards a rollout of AI products in the future.