Adtalem Global Education Inc. (NYSE:ATGE) Q4 2020 Earnings Conference Call - Final Transcript

Aug 18, 2020 • 05:00 pm ET


Adtalem Global Education Inc. (NYSE:ATGE) Q4 2020 Earnings Conference Call - Final Transcript


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Greetings, and welcome to the Adtalem Global Education Fourth 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 of our most recent annual report on Form 10-K filed with the SEC 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 a 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 fourth quarter and full year 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 today. On our call, I will discuss the highlights from our fourth quarter and full fiscal year before turning to performance in our business segments and our strategic outlook. I will then turn the call over to Mike to discuss our financial results before we open the line up for questions.

When we began fiscal 2020, we were confident that we would continue to grow our enrollments and revenue based on, one, our workforce solutions provider enterprise strategy; and two, the improvements we have made in the previous year in our talent, marketing and student services operations. We ended the fourth quarter