Laureate Education, Inc. (NASDAQ:LAUR) Q1 2022 Earnings Conference Call May 5, 2022 8:30 AM ET

Company Participants

Adam Morse - Senior Vice President, Finance

Eilif Serck-Hanssen - President and Chief Executive Officer

Rick Buskirk - Chief Financial Officer

Conference Call Participants

Jeff Silber - BMO Capital Markets

Shlomo Rosenbaum - Stifel

Operator

Good day and thank you for standing by. Welcome to the Q1 2022 Laureate Education, Inc. Earnings Call. [Operator Instructions] I would now like to hand the conference over to your host today, Adam Morse, Senior Vice President of Finance. You may begin.

Adam Morse

Good morning and thank you for joining us on today’s call to discuss Laureate Education’s first quarter 2022 results. Joining me on the call today are Eilif Serck-Hanssen, President and Chief Executive Officer; and Rick Buskirk, Chief Financial Officer.

Our earnings press release is available on the Investor Relations section of our website at laureate.net. We have also posted a supplementary presentation to the website, which we will be referring to during today’s call. The call is being webcast and a complete recording will be available after the call.

I’d like to remind you that some of the information we are providing today including, but not limited to, our financial and operational guidance constitutes forward-looking statements within the meaning of applicable U.S. securities laws. Forward-looking statements are subject to risks and uncertainties that may change at any time, and therefore, our actual results may differ materially from those we expected.

Important factors that could cause actual results to differ materially from our expectations are disclosed in our annual report on Form 10-K filed with the U.S. Securities and Exchange Commission, our 10-Q filed earlier this morning as well as other filings made with the SEC. In addition, all forward-looking statements are based on current expectations as of the date of this conference call, and we undertake no obligation to update any forward-looking statements. Furthermore, non-GAAP measures that we discuss, including and among others, adjusted EBITDA and its related margin, total cash, net of debt and free cash flow, are also detailed and reconciled to their GAAP counterparts in our press release or supplementary presentation.

Let me now turn the call over to Eilif.

Eilif Serck-Hanssen

Thank you, Adam and good morning everyone. We recently completed our enrollment intake for the first quarter, which includes the primary intake cycle for Peru and a smaller intake for Mexico. I’m very pleased to report that 2022 is off to a great start. New enrollments increased 9% year-over-year, and total enrollments were up 11%, continuing the solid momentum for the growth agenda that we initiated last year.