Key Highlights

  • Revenue of USD 485.1 million rose from USD 400.2 million and topped the consensus estimate of USD 480.2 million.
  • Adjusted EPS of USD 0.52 beat the consensus estimate of USD 0.48, while GAAP diluted EPS was USD 0.73.
  • New enrollment grew 8% and total enrollment 6% for the current intake cycle across Mexico and Peru.
  • The board added USD 150 million to the share repurchase program, leaving USD 225 million available after September.

Laureate Education, Inc. (NASDAQ:LAUR) reported third quarter 2026 Revenue of USD 485.1 million, up from USD 400.2 million and above the consensus estimate of USD 480.2 million. Adjusted Earnings Per Share of USD 0.52 compared with a consensus estimate of USD 0.48 and doubled from the prior year. GAAP Diluted Earnings per Share were USD 0.73 against USD 0.23, on Net Income of USD 101.2 million.

Chief Executive Officer Eilif Serck-Hanssen said revenue and adjusted EBITDA of USD 147 million both came in above the guidance given three months earlier, helped by favorable currency. The chief financial officer put the currency lift to revenue at USD 29 million and said that, adjusted for constant currency and academic calendar shifts, revenue rose 6% and adjusted EBITDA rose 14%.

Mexico, Peru and Tax Detail

Mexico revenue climbed to USD 256.5 million from USD 194.8 million, and segment adjusted EBITDA rose to USD 62.1 million from USD 25.7 million. Primary intake new enrollment grew 8%, with the Pueblo campus contributing about 3 points. Peru revenue reached USD 228.6 million versus USD 205.3 million, with adjusted EBITDA of USD 94.0 million against USD 78.1 million. Secondary intake new enrollment there rose 9%, driven by fully online programs, which management said is creating a price and mix drag on revenue per student that is projected to persist into next year.

Operating income rose to USD 119.1 million from USD 71.5 million. Income tax expense fell to USD 20.0 million from USD 34.5 million, and a foreign currency gain of USD 4.7 million replaced a loss of USD 2.3 million a year earlier. Interest expense was USD 4.8 million versus USD 2.6 million.

Guidance and Capital Return

The company reaffirmed 2026 guidance of 518,000 to 523,000 total enrollments, revenue of USD 1.92 billion to USD 1.93 billion, adjusted EBITDA of USD 593 million to USD 599 million and adjusted EPS of USD 2.04 to USD 2.10, based on about 139 million shares. The chief financial officer noted that both the peso and sol have weakened since the quarter, giving back the currency upside, yet guidance stayed unchanged.

Fourth quarter guidance calls for revenue of USD 546 million to USD 556 million and adjusted EBITDA of USD 198 million to USD 204 million, including USD 20 million of unfavorable academic calendar timing. At September 30 gross Debt was USD 204 million and cash USD 190 million, a net debt position of USD 14 million. The company repurchased USD 256 million of stock through September, including USD 75 million in the third quarter.

Markers for the Fourth Quarter and 2027

Dated items are clear. Peru secondary intake completes in November, and the El Nino event forecast for November 2026 to February 2027 is a stated operating consideration, with hybrid and online delivery cited as a partial mitigant. The Southern Lima campus is scheduled to open in the first quarter of 2027, and the Merida campus in Mexico before the September 2027 main intake.

Numeric checkpoints include the fourth quarter revenue range of USD 546 million to USD 556 million, the USD 20 million calendar timing drag and the 2026 adjusted EPS range of USD 2.04 to USD 2.10. Management also plans to detail the campus pipeline and deployment cadence on the next call, with acceleration of openings targeted for 2028.