Adtalem Global Education (ATGE) Q4 2024 Earnings Report

Adtalem Global Education (ATGE) reported a solid QQ4 2024, underscoring sustained enrollment momentum and margin discipline across its three segments: Chamberlain, Walden, and Medical & Veterinary. For the fourth quarter, revenue rose 12.4% year over year to $409.9 million, with adjusted EBITDA of $97.4 million and an EBITDA margin of 23.8%. Full-year 2024 results reflect revenue of $1.58 billion (+9.2% YoY) and adjusted EBITDA of $377.5 million (margin 23.8%), with adjusted net income of $201.8 million and adjusted EPS of $5.01, up 19% YoY. Management highlighted capex discipline and aggressive enrollment growth, culminating in free cash flow of $239 million and $261 million of capital returned to shareholders. Management’s Growth with Purpose strategy is driving top-line gains and operating leverage, as total enrollment rose 10% YoY in Q4 and the company expanded capacity and access across its three segments. For FY2025, ATGE issued guidance of $1.66–$1.70 billion in revenue and $5.60–$5.85 per share in adjusted earnings, with an expected ~100 bps uplift in adjusted EBITDA margin driven by operating leverage and ongoing investments in student-facing technology and marketing. The company also signaled selective pricing optimization to balance affordability and pricing power, and outlined strategic moves, including new Chamberlain locations and partnerships (e.g., AACN) to sustain enrollment momentum.