Laureate Education, Inc. announced its financial results for the third quarter and nine months ended September 30, 2026, in an earnings release filed on October 29, 2026. The company operates five higher education institutions across Mexico and Peru.
For the third quarter of 2026, revenue on a reported basis increased 21% to $485.1 million. On a constant currency basis, revenue increased 14%. Operating income for the quarter was $119.1 million, compared to $71.5 million in the prior year. Net income for the quarter was $101.2 million, compared to $34.4 million in the prior year, driven by higher operating income and a discrete tax benefit of $25.4 million. Adjusted EBITDA for the quarter was $146.8 million, compared to $94.8 million in the prior year.
For the nine months ended September 30, 2026, revenue on a reported basis increased 18% to $1,373.6 million. Operating income was $315.0 million, compared to $251.6 million in the prior year. Net income for the period was $216.7 million, compared to $112.3 million in the prior year. Adjusted EBITDA for the nine months was $395.1 million, compared to $314.7 million in the prior year. New enrollments increased 9% and total enrollments increased 6% over the prior year.
Regarding its balance sheet, as of September 30, 2026, the company reported $189.9 million in cash and cash equivalents and gross debt of $204.2 million, resulting in net debt of $14.3 million. During the first nine months of 2026, the company repurchased approximately $256 million of its common stock. On October 29, 2026, the company announced that its board of directors approved a $150 million increase to its existing stock repurchase program. After giving effect to this increase, the company may repurchase up to approximately $225.2 million of its common stock under the program.
Laureate reaffirmed its full-year 2026 outlook. Based on assumed foreign exchange rates, the company expects total enrollments to be in the range of 518,000 to 523,000 students, reflecting growth of 4% to 5% versus 2025. Revenue is expected to be in the range of $1,920 million to $1,930 million, reflecting growth of 13% on an as-reported basis and 6% to 7% on a constant currency basis versus 2025. Adjusted EBITDA is expected to be in the range of $593 million to $599 million, reflecting growth of 14% to 15% on an as-reported basis and 8% to 9% on a constant currency basis versus 2025. Adjusted EPS is expected to be in the range of $2.04 to $2.10 per share.
