Adtalem Global Education Inc. (NYSE:ATGE) Q4 2023 Earnings Conference Call January 30, 2024 5:00 PM ET

Company Participants

Steve Beard - President, Chief Executive Officer

Bob Phelan - Chief Financial Officer

Jonathan Spitzer - Vice President of Investor Relations

Conference Call Participants

Jeff Meuler - Baird

Jeff Silber - BMO Capital Markets

Operator

Greetings, and welcome to the Adtalem Global Education Second Quarter Fiscal Year 2024 Earnings Call. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. [Operator Instructions]. As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Jonathan Spitzer, Vice President of Investor Relations. Thank you, Mr. Spitzer. You may begin.

Jonathan Spitzer

Good afternoon. And welcome to our earnings call for the second quarter of fiscal year 2024 results. On the call with me today are Steve Beard, President and Chief Executive Officer of Adtalem Global Education; and Bob Phelan, Chief Financial Officer.

Before I hand you over to Steve, I will, as usual take you through our legal Safe Harbor and cautionary declarations. Certain statements and projections of future results made in this presentation constitute as forward-looking statements that are based on current market, competitive, and regulatory expectations and are subject to risks and uncertainties that could cause actual results to vary materially.

We undertake no obligation to update publicly any forward-looking statement after this presentation, whether as a result of new information, future events, changes in assumptions, or otherwise. Please see our latest Form 10-K and Form 10-Q for a discussion of risk factors as they relate to forward-looking statements.

In today’s presentation, we’ll use certain non-GAAP financial measures. We refer you to the appendix of the presentation material available on our Investor Relations website for reconciliation to the most directly comparable GAAP financial measures and related information. You will find a link on the webcast on our Investor Relations website at investors.adtalem.com. After this call, the presentation webcast will be archived on the website for 30 days.

I will now hand you over to Steve.

Steve Beard

Thanks, Jay. And thank you to everyone for joining us today. We recognize this call was rescheduled on relative short notice, but in light of the short seller report issued this morning, we thought it was important to share our results and outlook with you as soon as possible.

Let me briefly address the short report before turning to our results and guidance. As you likely saw, earlier today, a noted short seller issued a 50-plus page report on Adtalem. This firm never attempted to engage with us to confirm the veracity of its claims, and importantly the firm acknowledges holding a short position in Adtalem, and therefore stands to realize significant gains in the event that Adtalem stock price declines and will do so at the expense of our shareholders.