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Adtalem Global Education Inc. (ATGE) SEC Filing 10-Q Quarterly Report for the period ending Thursday, September 30, 2021

Adtalem Global Education Inc.

CIK: 730464 Ticker: ATGE
Exhibit 99.1

News Release

Investor Contact
John Kristoff
John.Kristoff@Adtalem.com
312-651-1437

Media Contact
Kelly Finelli
Kelly.Finelli@Adtalem.com
872-270-0230


Adtalem Global Education Announces Fiscal First Quarter 2022 Results
Revenue and operating income within expectations; reaffirming full-year guidance


CHICAGO – Nov. 3, 2021
– Adtalem Global Education Inc. (NYSE: ATGE), a leading workforce solutions provider, today reported academic, operating and financial results for its fiscal 2022 first quarter ended Sept. 30, 2021.

“During the quarter we made significant progress toward key initiatives, including the introduction of a new operating model and key leadership appointments that will allow us to accelerate the performance of our healthcare-focused assets,” said Steve Beard, president and CEO of Adtalem Global Education. “We believe these changes, coupled with our enhanced scale and capabilities, better position us to create long-term value for our students, employer partners and shareholders alike.”

Beard continued: “Overall, we delivered first quarter revenue and operating income within expectations. New student enrollments decreased during the quarter – particularly in nursing – primarily due to COVID-related headwinds in our post-licensure programs. We expect these headwinds to subside over time and believe that demand for healthcare professionals will continue to outpace supply for the foreseeable future, which creates stronger growth opportunities for Adtalem going forward.  We are reaffirming our full-year revenue and earnings guidance, and I’m energized for the opportunity ahead.”

Financial Highlights

Selected financial data for the three months ended Sept. 30, 2021:

Revenue of $348.3 million increased 29.9% compared with the prior year due to the acquisition of Walden; Excluding revenue from the acquisition of Walden, revenue of $279.7 million increased 4.3% compared with prior year

The following information was filed by Adtalem Global Education Inc. (ATGE) on Wednesday, November 3, 2021 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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Adtalem Global Education Inc.'s Definitive Proxy Statement (Form DEF 14A) filed after their 2021 10-K Annual Report includes:

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Inside Adtalem Global Education Inc.'s 10-Q Quarterly Report:

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Document And Entity Information
Consolidated Balance Sheets
Consolidated Balance Sheets (Parenthetical)
Consolidated Statements Of Cash Flows
Consolidated Statements Of Comprehensive Income (Loss)
Consolidated Statements Of Income (Loss)
Consolidated Statements Of Shareholders' Equity
Accounts Receivable And Credit Losses
Accounts Receivable And Credit Losses (Additional Information) (Details)
Accounts Receivable And Credit Losses (Classification Of Accounts Receivable) (Details)
Accounts Receivable And Credit Losses (Credit Quality Analysis Of Financing Receivable) (Details)
Accounts Receivable And Credit Losses (Rollforward Of Allowances For Credit Losses) (Details)
Accounts Receivable And Credit Losses (Tables)
Accumulated Other Comprehensive Loss
Accumulated Other Comprehensive Loss (Details)
Accumulated Other Comprehensive Loss (Tables)
Acquisitions
Acquisitions (Acquired Intangible Assets Subject To Amortization And Values And Estimated Useful Lives) (Details)
Acquisitions (Additional Information) (Details)
Acquisitions (Estimated Fair Values Of Assets Acquired And Liabilities Assumed) (Details)
Acquisitions (Tables)
Acquisitions (Unaudited Proforma Financial Information) (Details)
Commitments And Contingencies
Commitments And Contingencies (Details)
Debt
Debt (Additional Information) (Details)
Debt (Debt Issuance Costs) (Details)
Debt (Interest Expense) (Details)
Debt (Long-Term Debt) (Details)
Debt (Scheduled Maturities Of Long-Term Debt) (Details)
Debt (Tables)
Discontinued Operations And Assets Held For Sale
Discontinued Operations And Assets Held For Sale (Additional Information) (Details)
Discontinued Operations And Assets Held For Sale (Summary Of Income Statement Information Of Operations) (Details)
Discontinued Operations And Assets Held For Sale (Tables)
Earnings Per Share
Earnings Per Share (Details)
Earnings Per Share (Tables)
Fair Value Measurements
Fair Value Measurements (Details)
Goodwill And Intangible Assets
Goodwill And Intangible Assets (Additional Information) (Details)
Goodwill And Intangible Assets (Changes In Carrying Amount Of Goodwill, By Segment) (Details)
Goodwill And Intangible Assets (Estimated Amortization Expense For Amortized Intangible Assets) (Details)
Goodwill And Intangible Assets (Schedule Of Intangible Assets) (Details)
Goodwill And Intangible Assets (Summary Of Goodwill Balances By Reporting Segment) (Details)
Goodwill And Intangible Assets (Summary Of Goodwill Balances By Reporting Unit) (Details)
Goodwill And Intangible Assets (Summary Of Indefinite-Lived Intangible Assets Balances By Reporting Segment) (Details)
Goodwill And Intangible Assets (Tables)
Income Taxes
Income Taxes (Details)
Leases
Leases (Additional Information) (Details)
Leases (Components Of Lease Cost) (Details)
Leases (Future Minimum Rental Commitments For Noncancelable Operating Leases ) (Details)
Leases (Lease Term, Discount Rate And Cash Flow Information ) (Details)
Leases (Maturities Of Lease Liabilities) (Details)
Leases (Tables)
Nature Of Operations
Nature Of Operations (Details)
Property And Equipment, Net
Property And Equipment, Net (Additional Information) (Details)
Property And Equipment, Net (Schedule Of Property And Equipment, Net) (Details)
Property And Equipment, Net (Tables)
Redeemable Noncontrolling Interest
Redeemable Noncontrolling Interest (Additional Information) (Details)
Redeemable Noncontrolling Interest (Reconciliation Of Non-Controlling Interest Balance) (Details)
Redeemable Noncontrolling Interest (Tables)
Restructuring Charges
Restructuring Charges (Additional Information) (Detail)
Restructuring Charges (Restructuring And Related Costs) (Details)
Restructuring Charges (Separation And Restructuring Plan Activity) (Details)
Restructuring Charges (Tables)
Revenue
Revenue (Additional Information) (Details)
Revenue (Disaggregate Revenue) (Details)
Revenue (Tables)
Segment Information
Segment Information (Additional Information) (Details)
Segment Information (Revenues And Long-Lived Assets By Geographic Area) (Details)
Segment Information (Tables)
Segment Information (Tabulation Of Business Segment Information Based On Current Segmentation) (Details)
Share Repurchase (Details)
Share Repurchase (Tables)
Share Repurchases
Stock-Based Compensation
Stock-Based Compensation (Additional Information) (Details)
Stock-Based Compensation (Fair Values Of Stock Option Awards Weighted Average Assumptions) (Details)
Stock-Based Compensation (Summary Of Options Activity) (Details)
Stock-Based Compensation (Summary Of Restricted Stock Units Activity) (Details)
Stock-Based Compensation (Tables)
Stock-Based Compensation (Total Stock-Based Compensation Expense Included In Consolidated Statement Of Income) (Details)
Summary Of Significant Accounting Policies
Summary Of Significant Accounting Policies (Policies)
Ticker: ATGE
CIK: 730464
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-21-014347
Submitted to the SEC: Wed Nov 03 2021 5:23:42 PM EST
Accepted by the SEC: Wed Nov 03 2021
Period: Thursday, September 30, 2021
Industry: Educational Services

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