Adtalem Global Education Inc. (NYSE:ATGE) Q3 2020 Earnings Conference Call - Final Transcript

May 05, 2020 • 04:00 pm ET


Adtalem Global Education Inc. (NYSE:ATGE) Q3 2020 Earnings Conference Call - Final Transcript


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Greetings and welcome to the Adtalem Global Education Third Quarter Fiscal Year 2020 Earnings Conference Call. [Operator Instructions]

I will now turn the conference over to our host, Maureen Resac, Vice President, Treasury and Investor Relations.

Thank you. You may begin.

Maureen Resac

Thank you. And good afternoon. With me today from Adtalem's leadership team are Lisa Wardell, Chairman and Chief Executive Officer and Mike Randolfi, Senior Vice President and Chief Financial Officer. I'd like to remind you that this conference call will contain forward-looking statements within the meaning of the Safe Harbor provision of the Private Securities Litigation Reform Act of 1995, with respect to the future performance and financial condition of Adtalem Global Education that involve risks and uncertainties.

Actual results may differ materially from those projected or implied by these forward-looking statements. Potential risks, uncertainties and other factors that could cause results to differ are described more fully in Item 1A Risk Factors in the most recent Annual Report on Form 10-K for the fiscal year ended June 30, 2019, filed with the SEC on August 28, 2019, and our other filings with the SEC. Any forward-looking statement made by us is based only on information currently available to us and speaks only as of the date on which it was made.

We undertake no obligation to publicly update any forward-looking statement, whether written or oral that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law. During today's call, our commentary will refer to non-GAAP financial measures, which are intended to supplement, though not substitute, our most direct comparable GAAP measures. Our press release, which contains the GAAP financial and other quantitative information to be discussed today as well as reconciliation of GAAP to non-GAAP measures is available on our website.

Please note that all financial comparisons made during today's call are in comparison to the prior year period, unless otherwise stated. It is also important to note that our third quarter results reflect the application of discontinued operations for our former Business & Law segment as a result of the divestiture of Adtalem Brazil, which made up the entire segment. Telephone and webcast replays of today's call are available for 30 days. To access the replays, please refer to today's press release.

And with that, I'll now turn the call over to Lisa.

Lisa W. Wardell

Good afternoon. And thank you for joining us. On today's call, I will discuss the highlights from our third quarter as well as provide some context for our business in light of the impact of the COVID-19 pandemic. I will then turn the call over to Mike to discuss our financial results before opening the call up for questions. We can all agree that this is an extraordinary crisis driving unprecedented uncertainty in global markets. While I can't predict all of the economic, social and cultural implications of the crisis, I can tell you why we believe Adtalem is well positioned to