Adtalem Global Education Inc. (NYSE:ATGE) Q3 2024 Earnings Conference Call May 2, 2024 5:00 PM ET

Company Participants

Jonathan Spitzer - Vice President, Investor Relations
Steve Beard - President and Chief Executive Officer
Bob Phelan - Chief Financial Officer

Conference Call Participants

Stephen Pollock - Robert W. Baird
Alex Paris - Barrington Research

Operator

Greetings and welcome to the Adtalem Global Education Third Quarter Fiscal Year 2024 Earnings Call. [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. You may begin.

Jonathan Spitzer

Good afternoon and welcome to our earnings call for the third 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 the call over to Steve, I will as usual take you through the 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 statements after this presentation, whether as a result of new information, future events, changes in assumptions or otherwise. Please see our latest Form 10-K, Form 10-Q for a discussion of risk factors related to forward-looking statements.

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

I will now hand you over to Steve.

Steve Beard

Thanks, Jay. Good afternoon, everyone and thank you for taking the time to join our third quarter fiscal 2024 earnings call. We delivered another quarter of strong results with performance ahead of expectations. During the third quarter, total enrollment grew by 7.8%, yielding revenue of $413 million, up 11.8% versus the prior year. In the quarter, we also surpassed another performance milestone. We expanded our operating margin at the same time as we increased our year-over-year investments in the business. This performance generated $1.50 in adjusted earnings per share, up 32.7% versus last year.