Laureate Education (NASDAQ: LAUR) reported Q1 EPS of $0.59, versus ($0.55) reported last year. Revenue for the quarter came in at $885.3 million versus the consensus estimate of $841.06 million.

Outlook for Fiscal 2018

On March 27, 2018, the Chilean Constitutional Court declared unconstitutional Article 63 of the New Higher Education Law, which would have prohibited for-profit organizations from controlling the boards of universities in Chile. As a result, the Company is updating guidance for full-year 2018 to reflect the fully consolidated impact of its operations in Chile, and to reflect a partial year impact for asset sales which have been announced but not yet closed and recent changes in foreign currency rates.

Based on the current foreign exchange spot rates2, Laureate currently expects its performance for full-year 2018 to be as follows:

• Total enrollments in the range of 1,025,000 to 1,030,000;
• Revenues to be in the range of $4,260 to $4,300 million;
• Adjusted EBITDA to be in the range of $810 to $820 million;
• Capex spending at approximately 7% of revenue;
• Cash interest expense of approximately $250 million, reflecting the improvements in our capital structure;
• Free cash flow, defined as operating cash flow less capex, expected to be approximately $100 million for 2018; and

For earnings history and earnings-related data on Laureate Education (LAUR) click here.