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Adtalem Global Education Inc. (ATGE) SEC Filing 10-Q Quarterly Report for the period ending Thursday, March 31, 2022

Adtalem Global Education Inc.

CIK: 730464 Ticker: ATGE
Exhibit 99.1

News Release

Investor Contact
Chandrika Nigam
Chandrika.Nigam@Adtalem.com
312-681-3209
 

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



Adtalem Global Education Announces Fiscal Second Quarter 2022 Results
Revises full-year guidance driven by the pending sale of Financial Services segment and continued near-term COVID headwinds


CHICAGO – Feb. 8, 2022
– Adtalem Global Education Inc. (NYSE: ATGE), a leading healthcare educator, today reported academic, operating, and financial results for its fiscal 2022 second quarter ended Dec. 31, 2021. The second quarter results reflect the Financial Services segment in discontinued operations because of the recently announced pending divestiture.
 
“I’m encouraged by the tremendous progress we’ve made to reposition Adtalem as the leading provider of healthcare education. The recent announcement of the pending sale of our Financial Services segment is the culmination of a long-term strategy to sharpen the focus of our portfolio and greatly enhance our ability to address – at scale – the rapidly growing and unmet demand for healthcare professionals in the U.S.,” said Steve Beard, president and CEO of Adtalem Global Education. “Despite the continued near-term headwinds from the pandemic disproportionally impacting our post licensure nursing programs, we believe our strategic focus, significant scale, and the synergies of the recent Walden acquisition leave us uniquely well positioned to be the leader in helping employers across the healthcare industry meet their critical workforce talent needs.  As a result, we are more excited than ever about the opportunities ahead.”
 
Financial Highlights
 
Selected financial data for the three months ended Dec. 31, 2021:

The following information was filed by Adtalem Global Education Inc. (ATGE) on Tuesday, February 8, 2022 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 2022 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
Consolidated Statements Of Income
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 Balance Sheet Information Of Assets And Liabilities) (Detail)
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 Repurchases
Share Repurchases (Asr Agreement) (Details)
Share Repurchases (Open Market Share Repurchase Programs) (Details)
Share Repurchases (Shares Repurchased Under Programs) (Details)
Share Repurchases (Tables)
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: 0001558370-22-007371
Submitted to the SEC: Thu May 05 2022 4:11:18 PM EST
Accepted by the SEC: Thu May 05 2022
Period: Thursday, March 31, 2022
Industry: Educational Services

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