Laureate Education, Inc. (NASDAQ:LAUR) Q1 2020 Earnings Conference Call - Final Transcript

May 07, 2020 • 08:30 am ET


Laureate Education, Inc. (NASDAQ:LAUR) Q1 2020 Earnings Conference Call - Final Transcript


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Welcome to the Laureate Education First Quarter 2020 Earnings Conference Call.

[Operator Instructions]

Now I will turn the call to your speaker, Adam Morse.

Adam Morse

Hello, everyone, and thank you for joining us on today's call to discuss Laureate Education's first quarter 2020 results and updates on our response to the COVID-19 pandemic and our previously announced strategic review process.

Joining me on the call today are Eilif Serck-Hanssen, President and Chief Executive Officer; and J.J. Charhon, Chief Financial Officer. Our earnings press release is available on the Investor Relations section of our website at We have also posted a supplementary presentation to the website, which we will be referring to during today's call. The call is being webcast and a complete recording will be available after the call.

I'd like to remind you that some of the information we're providing today, including, but not limited to, our financial and operational guidance, constitutes forward-looking statements within the meaning of applicable U.S. securities laws. Forward-looking statements are subject to risks and uncertainties that may change at any time, and therefore, our actual results may differ materially from those we expected. Important factors that could cause actual results to differ materially from our expectations are disclosed in our quarterly report on Form 10-Q filed with the U.S. Securities and Exchange Commission this morning. In addition, all forward-looking statements are based on current expectations as of the date of this conference call, and we undertake no obligation to update any forward-looking statements.

Additionally, non-GAAP measures that we discuss, including adjusted EBITDA, adjusted EBITDA margin and free cash flow, are also detailed and reconciled to their GAAP counterparts in our press release or supplementary presentation.

With that, let me turn the call over to Eilif.

Eilif Serck-Hanssen

Thank you, Adam, and good morning, everyone. On behalf of the entire Organization, I'd like to share our deepest sympathies for all those who have been affected by this global pandemic. We sincerely thank those who have been working hard to keep all of us safe through the crisis, particularly those on the front lines in the health care community across all our markets.

During these unprecedented times, Laureate's priority is the health and well-being of our students, faculty and staff, while delivering on our promise of delivering high-quality educational offerings. We understand the importance of higher education to the more than 870,000 students we serve, and the power it has to transform their lives and prepare them to positively contribute to their communities. I want to thank our faculty and staff for their flexibility, commitment and resilience as together, we do everything possible in these challenging times to continue to deliver on our promises.

In order to prevent the spread of the virus in our student communities, we closed all our physical campuses and quickly activated our Business Continuity Plan. In a matter of a few short weeks, our students were transitioned to online learning modules, and our staff and faculty were all working remotely. Our transition to online