Thank you, good and Doug, afternoon everyone.
great said, have for been next Just very selected Laureate's am am and CEO add honored the to for holds as excited future to what what company. I this I Doug
and you the truly that passion have a for and and and impact to innovation. through look kind Laureate the quality expanding has we commitment technology to for everything accelerated worldwide advancing company your our building high a to the done in you, forward support for communities are enduring education of driven goals vision, a mission We that and seen I access all serve. over Thank one your on and and investments Doug, organization to students committed further years lasting
move results for the me the to let quarter. Now
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meet represents by understand of growth largest segments supply investors of an and demand resulting and the Traditional have students provide markets has give segments the been trends growing education historical employer historical which This X-K often and we for higher capacity inability explain higher growing these which are participation on relevant, throughout experiencing created and education. limited requirements. better favorable our to Additionally, demand have week by during participants, macro developing some themselves. last students call. To appropriate Most demand of strong with under-funded, on XXXX. each universities growth is in our student at resulting marked the increasing we experienced for secular continued and context in sector opportunity in record that imbalance this to economic Laureate, a historically results our which higher demographics helps track these Despite context business including where have segments, to trends, the subject served public will based the to segments. filed segment in we back segment regulatory conditions education and near-term rates, level of private help
segment. key for for results the each key the run through the variances for for and I for growth a the quarter, performance of will drivers As each context provide I indicators
and seasonality our in doing with everyone of in business just remind referenced additional the want the However, so, I illustrated is before which to slides appendix.
P&L for first a the period. that run on increase the the the a $XX year third intake classes $XXX which XXXX quarter the to seasonally on low on to XXXX approximately for on Adjusted the our was on million quarter the third quarter decrease reported from but quarters compared of results Revenue reported context, of the into EBITDA quarter basis. the many let perspective. a financial are third we $X intake million, me of was low basis. majority enrollment $XX the fourth Mexican for through are third million quarter represent resulted seasonally second and works were related in activity quarter XXXX, by today third million compared highlights EBITDA a are third a Year-over-year periods our impacted the and a Laureate, are the which starting XX% total largest XXXX With scheduled Conversely, the revenues results X% year fourth of of third For large needed no. the facilities. from approximately pushed but with earthquake account quarter reporting repair of two revenue September new XX% for being not quarter periods. along enrollment in in to XX, and onetime Slide and relating generate X. of in the for expenses Thus
third adjusted to of of of Basic compared XXXX million $XX income quarter of in from was basis, million share EBITDA respectively per in prior million series an equity of expense our third increased quarter seasonality. by compared third to quarter but due nearly quarter of due the $XX share year. preferred $XXX a on of year XXXX $X and to accretion loss quarter million timing Mexico seasonality and effect was diluted part trend the mainly to was A continued of On variances. third XXXX, for as gain year. and net and prior quarter benefited quarter and quarter impacted the well last during in Net third $XX timing loss revenue $X the charge $XX earlier to on our X% and primarily share timing during as latte as results to per the Foreign the EBITDA for the favor third impact discussed of currency instrument. organic institutions. the including revenues adjusted the the down third adjusted earnings earthquake the million represented deterioration the per $X.XX million Operating versus for XXXX, of French With in $XXX.X the constant currency versus related to a million sale X% loss million by favorably
currency in the what on March as for in results adjusted has Peru flooding this reflect was including results, up year These the For disasters EBITDA of been back a XX% year key results of year-to-date the in natural for to in year-to-date earthquake constant performance significant increased us basis, X% XXXX. revenue Mexico. and markets against organic strong recent and an compared
dispositions, to compared activity enrollment year. increased excluding prior year-to-date same September year-to-date at enrollments X% New grew asset X% to period through Total XX, through XXXX new our September September XXXX XXXX. in enrollments compared
discussing Slide Let results minutes spend for few me on XXXX now XX, highlights. touching by through a key on segment X
reported detailed the are best which segment performance we believe as is year-over-year for the business. trends go operating and how appendix. as I results results, of prepared it's growth in am bridges, be currency slides going on constant rates in can an be the the I to The through organic discussing well As each basis as our the found the indicator
such comparability our there Additionally, impacts items and effecting expenses. often in of are related year-over-year as timing calendar academic business timing to
We also and natural have we like extreme seen natural this year disasters events with earthquakes. such as floods have what
out the that noted those Slide year-over-year no. of forma more segment impacting understand results The trends For are following call we material, And X. in timing for the basis. significant so to are those adjusted been you slides normalized timing items on items can a items reporting. as try in on some adjustments most pro have the shown
year enrollments secondary through includes learning year-to-date up additional well quarter XX% are Brazil for year, robust completed to Financial intake. third some the impacts new annual saw to XX% results when third smaller as our performance during XX% the expenses in that digit. strong intake recovery momentum new Results market just their the for growth enrollments. year-over-year. secondary of while versus our the learning high with remain growth XX% representing Brazil's new face during business large which Moving we drive EBITDA timing very on of on strong was face marketing and skewing Brazil. are intake quarter the strong during distance increasing as the approximately of half Brazil The single first building prior the of results enrollment in was first September helped
very year, margins on us. commensurate to growth well trends see the for revenue the the For to EBITDA date performing expect with performance we full is as Brazil and market
impact from of approximately Moving afford on as expenses significant there our earthquake. earthquake and of related had facilities of and there the estimate in people remaining of were XXXX are the realized after The Mexico. us didn’t as the the for Half Mexico families than third lower quarter well repairing onetime fourth as a to Mexican quarter Mexico earthquake prior early shifting versus students or no enrollments impacted revenue able attend the the rates, were part the the due XXXX the those quarter that that on longer the are quarter. We enroll universities. unfortunately can third to and during and segment with well were in reduced to related Results the our for for total total This students into this classes will by fourth to new expected result fourth and run market. revenues to quarter and as earthquake. expectations
macro addition, impacts, as In that these the the its policies. and well year-to-date are related starting is to macro also in there on segment. the factors due market revenue This prior consumer pricing flat significant and growth the to that very and is on with Mexico uncertainties trends consumers effects in trends to among and due into sentiment calls, solid discussed in Mexican Despite U.S. fatigue cost the NAFTA And adversely way trade high inflation. strong management. and enrollment weighing both margins to earthquake trending are GDP relatively make
Andean let's move to and Now segment. Iberian the
reminder, Peru and and addition Chile in Iberian Spain the Portugal. our Andean a regions As institutions in include and to
on enrollment in due a we second with country we all Chile expect which brands to to were in product XXXX is that during solid characteristics regulatory earnings in the challenges in quarter for occurred Chile down operate slightly strong segment call. growth premium nice year-over-year similar the revenue and institution very and discussed the Results which Peru Spanish this Our and complement and synergies. markets with was potential the
digit institution, primary resulted mid pricing volume mid-single the revenue in both student to resulted we growth combined digit moving smaller to of from enrollment digit programs for as segment due margins with of Then are results and students In new strong Costa expense tight Then encompasses very U.S. revenue as by Excluding showing also University Central the Double mix. assets EBITDA revenue EMEAA experienced expense we campuses. America higher some Honduras, have well to year-to-date in single growth high segment. low X%. Augustine Chile, grew rapid is of lower and from Year-to-date the and very exercising which in to and Central campuses of as which and Panama gains and tight the management. increases St. scaling which per moving yielding to our management. on priced Rica, America traded U.S.
of intakes QX New new enrollment timing, year-to-date and X% for for as consistent and most that programs, programs, in from markets shift planned EMEAA mainly longer and region. priced with lower length strategic to prior lower in up essentially the up are away enrollments quarters due X% contribution in certain segment we continued stay flat respectively, in timing of were profitable year-over-year notably to and Adjusted Australia. more our certain
growth and in to management. that the reflecting more tight note the the profitable programs this region benefit decision will of margin strategic part in and very favorable You expense revenue robust is strong the mix shift is due performance
and online partnerships. to on Moving
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University at and as strategic markets made First, to improve certain we has the in Liverpool to discussed, decision previously year of a overall mix Walden margin last resulted This of contributions. rebalance percentage third X international but new an in volumes has quarter. for be for although and proven decision enrollments us revenue point approximately it resulted lower in to decline accretive higher student per the the in
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are the Slide expectations. total Let guidance are our with highlighted providing spot On me prior as for updated our and year number we the for the enrollments. expectation spend on changed guidance. rate, for items have minutes few have current FX XX, follows. you that on now XXXX year full versus a full Based guidance now Starting
We are earthquake Mexico organic segment most recent XXXX X.X% enrollment lowering estimated X% growth loss the to in the student total enrollments the in the to U.S. the and XXXX experienced declines from intake. guidance for in online reflecting to
the to currency earnings year us. key efficiencies is has to change on again moving $X,XXX revenue the dollar now strengthened the tighter deterioration. due year many quarter seasonally high is impact be no should Revenues online a I and bottom been the in expected and our cost as approximately our creating currency Mexico No full the EBITDA adjusted control a in the is change the material also for EBITDA U.S. is a on any of recently plan increased period is and accelerated the now earthquake basis slight for from reflecting constant foreign drag intake. end say fourth much the offsetting guidance previous expected, has in the favor Although which for is recent million the year, currencies of XXXX, for expected are range, for of of weakness the
down adjusting of range million debt however, guidance $X to quarter. million of that anticipate U.S. $XXX us guidance the our the second by refinancing in FX for adjusted dollar. We $XX of in due recent the are to the charges the We the strengthening from impacted corporate during million impact from previous the $XXX inclusive EBITDA million
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are we year-to-date. wanted on I on comment trends potential based topic to also September still implications While run guidance, through our business for rate on of the
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continue and proven exceptionally beyond. resilient scale growth to the performance for growth prior deliver to that we operations campus-based in but have the with Mexico next to this our benefits quarters few expect down our slow may strong have temporarily in XXXX expectations. cause past we this expect in segment and Mexico to consist earthquake we in rate in The and Second, very be brands
would given first what by magnitude rates shortfall new versus our our XXXX, expected. will even quarter online XXXX the in in of business, for have it a However, we of reduction enrollment if corrected otherwise cause growth
and JJ of responsible international backgrounds development. member change strategic He enabled has next CFO. recently Fortune XX JJ and to financial to brings initiatives, that, thrilled of performance the my guidance and continuing well for JJ including full before Novartis. of Chief on company of laser During he deliver tax, the university the and we planning are years and XXXX's as In XXX meantime, to businesses as Q&A. business on focused With XXXX, be our the key as us appointment team. And we of largely for the and and course is our analysis, in initiatives Doug the financial be our on start investor XXXX. be announce a full finance, in quarter the will I a fourth quarter Pharma joins over as in accelerator our he we management, goes for by our the commitments be internal margin as segment to more on a was financial control for which he and the call in risk will him Purdue extensive Jean-Jacques, detailed analysis, will planning. on am will in international Charhon. our and reporting, GE, He technology deliver January with he financial we corporate year will the hand the have JJ controllership, online Laureate's year treasury I earnings XXXX, Officer, join of for strategy, outlook. first also growth chapter corporate of improving transformation to first well both Financial relations. HP plan. provide from brings executive planning and including business, experience Most He going from experience comments the where will couple management and of finance technology and of also overall companies wealth operations the management implement of for new nearly Today,
