Thank you, Eilif.
education As higher business. is a a reminder, seasonal
company as quarter classes Although the a intake are large for a the of much fourth quarter for is represents strong in it session not the period. period, earnings
and which quarter. operating fourth strong $XXX EBITDA XX, was with financial our $XXX highlights adjusted the for and in performance start million. million, Revenue fourth quarter the was Let's Page
for revenue basis XX% basis, fourth quarter on quarter in the total currency favorable XX% up constant driven was with growth. organic price/mix. was an and fourth organic constant volume the flow-through strong an currency up X% for by On on year-over-year enrollment EBITDA Adjusted year-over-year, margins revenue
from which adjusted timing calendar, Adjusted some both comparable third and the the EBITDA for the of of for revenue as the call. was academic discussed our deferral fourth includes growth on costs X% quarter for last the EBITDA quarter,
to Page moving full Now year results. XX and
currency was and year Full of point total a new the margin led income prior and an $XXX For an $X.XX versus million. increase by increased for for in XXXX, enrollments Mexico. XXX was adjusted revenue adjusted year resulted Full was was basis, EBITDA in $XXX XX.X%, This historic high point X%, which EBITDA in per X% EBITDA year. resulting organic is new of resulting revenue adjusted by up a XX and per On $X.XXX basis both billion increased Laureate. constant year X% in margins share. improvement million, basis net share earnings a in
counterpart clearer per more believe for non-GAAP these introducing and metrics provide picture company's we a a adjusted of earnings accurate and adjusted Today, income also profitability for We the underlying share net metrics investors. reconciliation reflection new in will are release calculation their presentation. shareholders metrics performance nearest of core earnings GAAP be and performance and our to can help of better our these compare over our found and earnings time. The
gain you core loss the as adjustments for on as which adjust the to and well plan discrete or see The items will FX noncash future XXXX we to balances. for relate intercompany in tax
per earnings find For forward. our and XXXX, our share. was these full hope per as net income adjusted year adjusted We share helpful you $XXX evaluate was $X.XX metrics results going million reported you
of and Please color note on and Peru, currency starting provide on all the organic Let some with versus that XX. Mexico prior constant me an basis. year performance now additional comparisons are Page
Mexico. with start Let's
growth quarter enrollments programs revenue increased slightly fully led on online timing X% for both value fourth across year, and productivity gains. the for revenue New compared of growth online XX% for period. quarter adjusted fourth EBITDA the year our up due brands. both up the XX% the the Adjusted year-over-year prior by increased for revenue for calendar, to was was working to above of adjusted increased was EBITDA adults cost on When and our Mexico's inflation and face-to-face the fully Pricing and fourth leverage traditional quarter products. premium operating academic focused XX% year in for strong XX%.
X% For price of an period, in prior full EBITDA to XX.X%. expanding and increased Adjusted points basis XXX was versus margins year mix. driven XX% of total the XXXX, revenue XX% by XXXX average enrollments in X% year Mexico's by growth increase
that in on our are XX% track exceed to We only achieve target not market. but margin
on Let's XX. now to Peru Slide transition
enrollment strong September by the Peru's cycle New following enrollments the recovery. macroeconomic driven X% increased secondary for during intake in year, performance
strong from demand in fully who fourth In was that pent-up previous model. addition also intake deferred the up as the cycle, quarter experienced for students growth during scale we to growth to X%. continue Revenue online we
cost the of EBITDA well the X%, associated quarter declined effects quarter increased academic half third of quarter debt EBITDA as calendar, to tail year. recession while as from timing the revenue adjusted Adjusted adjusted X% of the referenced XX%. primarily bad for deferral fourth year-over-year, I due for from earlier first the When the with that fourth declined higher the
of increase by the For mix. price increased full X% X% year X% over XXXX, revenue in total driven in average and Peru prior enrollments year, a
decreased provisioning, and and the higher partially first macroeconomic X% of revenue the was intake year resulting the for with as in bad marketing in and flow-through half both decline by EBITDA from expected increase enhanced Adjusted offset expenses. scholarships debt from prior in the the as versus softer quarter first year an year conditions of incremental the levels margins discounts
Laureate our ended net $XXX cash for sheet year discuss briefly debt million. million $XX balance now in debt in me and gross position million of position. $XX a with Let the
returned returned excess through dividends. and we shareholders have to to During share unused accretive remaining. nearly $XXX to of shareholders authorization XXXX, capital cash share return sheet cash Since XXXX, anticipate capital $XX have we still shareholders a With billion to year. this distributions million and continuing through model, and million repurchases of strong cash we repurchases, $X accretive balance
our X% period to XX% unlevered X- out new were compound guidance. of a outlined annual transition investors growth free enrollment, targeted through At company insight currency to a delivering growth annual cash above objective to rate to EBITDA adjusted total XX% a growth the revenue constant X% for and with X-year flow on a rate XX% plus. at to conversion or on profile to Laureate we XXXX. give X% basis, of of for margins process, discussion a transformation a EBITDA into trajectory. our of from compound that adjusted different a financial believed of we now that and time, and Coming profile important through was over Let's went XXXX it significant
all Having on will to we remarkable are new continuing Laureate stakeholders. XXXX for XX. as achieved Based will growth built achieved now providing guidance guidance with a understood today, for we foundation and profile, aims Laureate, accomplishment X- by our and for noted organization. improved on have a position we to X-year we profile and the providing financial that an with annual instead new revenue the strong quality strong Page targeted our a better profile, have deliver focus commitment academic of a that unwavering At on our quarterly outcomes financial to targeted market,
a XXXX. continued We Peru during local on and growth and Mexico expect both the about excited opportunities markets basis currency operating in momentum in remain
Before a for the wanted factors providing year. our specific outlook affecting guidance our ranges, important note to few I
made First, in initiatives consolidation progress Mexico. we campus good our on have
X% XXXX revenue growth. to As $XX in loss onetime a impact do initiatives, or a result we approximately of an million year-over-year of expect revenue those
more will margin our continue be for allow and footprint However, expectations see campus that in streamlined efficient, growth our XXXX. us you to reflected to will more strong
impact external current closely dollar XX% particularly XXXX to approximately are on than and factors to in spot creating in Mexico, expected weaken we an as-reported noted, the in rates in respect peso. peso fourth volatility Eilif as our The quarter FX the Second, political average, translation recent guidance. the with continued weaker Mexican the monitoring
Mexican expect do revenue we With movement of XXXX to the in reported to flat the slightly in versus be down peso, XXXX. significance the our
business EBITDA reported U.S. the current cash expect However, exchange Peruvian given Soul, we in adjusted on rates. in deliver growth still a local momentum both stable currency revenue growth, flow and dollar margin based to and
later on starting this Lastly, to Page shift in year classes quarter in markets is weeks summary, X we approximately revenue academic the and last. shift detailed as the calendar the intra-year expected related to X to are In an profitability to million due in first further anticipating as both to #XX. from fourth $XX compared
to year me as rates, we the of billion, X%, ranges. to be of to follows: Revenues in X% reflecting full to the on X% on reflecting XXX,XXX XXXX growth of to to excluding Now guidance constant FX XXXX in XXX,XXX from current on total to expect move XXXX. enrollments let currency versus X% to campus to results $X.XXX but our students, be Based be flat range or as-reported basis, in down an consolidations performance of impact range basis organic billion X% Mexico. versus on the $X.XXX X% an X% growth to
million We versus XX% be growth in on on to XXX be guidance. anticipate an operating from XX% This consolidations XXXX. of leverage in approximately basis to at currency X% of corporate increase to organic revenue EBITDA midpoint an growth, expenses. reflecting $XXX $XXX our by basis driven X% Adjusted result Mexico lower margin would points million, range in EBITDA and the of of our to campus and constant further in basis an the as-reported to expansion adjusted margins
Lastly, reported we adjusted imply for growth cash dollar strong U.S. flows. EBITDA on XXXX, cash which conversion of XX% to approximately double-digit flow a unlevered would basis, reported expect in free
our quarter guidance. to turning first Now
As largely February. QX classes is a quarter are of seasonally a low and January of in session reminder, as much out
earlier. guidance our I intra-year change discussed reflects addition, In seasonality the
closing first I'm to XXXX, $X adjusted comments. between the revenue million For million EBITDA back between you quarter my remarks. we prepared million. to $X Eilif, concludes for expect it and negative $XXX million, That handing $XXX of negative
