Every material Form 8-K Laureate Education filed with the SEC in 2024, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Laureate Education amended the employment terms of CEO Eilif Serck-Hanssen in a letter agreement dated December 12, 2024. The package sets a $1,000,000 base salary effective January 1, 2025, a 130% target bonus, and a one-time $5,000,000 restricted stock unit award. For shareholders, the filing details higher pay and equity commitments for the chief executive, along with notice and severance terms.
Base salary of $1,000,000, effective January 1, 2025, with target bonus at 130% of salary
One-time RSU award with grant date value of $5,000,000, granted January 2, 2025, vesting 50% each on December 12, 2025 and December 12, 2026
Annual long-term incentive target grant equal to 350% of base salary, starting with the fiscal 2025 grant cycle
Six months' written notice required for termination without Cause or resignation
Laureate Education reported third-quarter 2024 revenue of $368.6 million, up 2% on a reported basis and 9% on an organic constant currency basis, with net income of $85.3 million versus $36.0 million a year earlier. The company said it is increasing its full-year constant currency outlook and now expects 2024 revenue of $1,551 million to $1,556 million and Adjusted EBITDA of $447 million to $451 million, and the filing notes that a discrete tax benefit of about $37.9 million contributed to the profit increase.
Q3 2024 revenue $368.6 million, up 2% reported and 9% organic constant currency; operating income $72.0 million versus $58.7 million
Q3 net income $85.3 million, including a discrete tax benefit of about $37.9 million; basic and diluted EPS $0.56 versus $0.23
Full-year 2024 outlook: revenue $1,551 million to $1,556 million; Adjusted EBITDA $447 million to $451 million; total enrollments about 470,000
Board approved a new stock repurchase program of up to $100 million on September 13, 2024, after the prior $100 million program was completed in Q3
Laureate Education reported second-quarter 2024 revenue of $499.2 million, up 8% on a reported basis and 7% on an organic constant currency basis, with net income of $128.4 million versus $56.3 million a year earlier. The company said the net income increase was mainly driven by foreign currency effects on intercompany balances, and it adjusted its as-reported full-year 2024 revenue and Adjusted EBITDA ranges for recent Mexican peso volatility while maintaining its constant currency outlook.
Q2 2024 revenue $499.2 million, up 8% reported and 7% organic constant currency; operating income $166.6 million versus $154.5 million
Net income $128.4 million versus $56.3 million; basic and diluted EPS $0.83 versus $0.35, mainly driven by foreign currency changes on intercompany balances
Q2 Adjusted EBITDA $186.9 million versus $175.4 million
Full-year 2024 revenue now expected at $1,551 million to $1,566 million and Adjusted EBITDA at $441 million to $451 million on an as-reported basis
Laureate Education said Andrew B. Cohen will succeed Kenneth W. Freeman as Chair of its Board effective September 10, 2024, and Freeman will remain on the Board. At the May 30, 2024 annual meeting, shareholders elected all ten directors, approved executive pay on an advisory basis, and chose to hold such votes every year.
Andrew B. Cohen becomes Chair effective September 10, 2024, succeeding Kenneth W. Freeman, who has served as Chair since 2019.
Shareholders approved executive compensation in an advisory vote: 131,822,019 for and 4,741,454 against.
Shareholders favored annual advisory votes on executive pay: 129,439,569 for one year versus 7,072,211 for three years.
Special retention RSU grants made May 30, 2024: $2,000,000 to CFO Richard Buskirk and $3,000,000 to Marcelo Cardoso.
Effective May 6, 2024, Laureate Education agreed to buy 2,114,928 common shares from six Snow Phipps Group entities at $14.64 per share, a total of $30,958,422. The shares will be repurchased under the company's existing $100 million share repurchase program, announced February 22, 2024. The filing states that about $36.1 million of authorization will remain after the purchase, so the deal uses a portion of the program's capacity.
Purchase price of $14.64 per share, for an aggregate $30,958,422 across 2,114,928 shares
Shares are repurchased under the $100 million program announced February 22, 2024
About $36.1 million of authorization remains under the program after this purchase
Agreement effective May 6, 2024; filed with the SEC on May 7, 2024
Laureate Education reported first-quarter 2024 revenue of $275.4 million, up 10% as reported but up 1% on an organic constant currency basis. Its net loss narrowed to $(10.8) million from $(26.8) million, while Adjusted EBITDA fell to $30.6 million from $33.5 million. The company raised its full-year 2024 revenue and Adjusted EBITDA guidance, citing more favorable currency rates.
Q1 2024 revenue $275.4 million, up 10% as reported and 1% on an organic constant currency basis
Net loss $(10.8) million vs. $(26.8) million a year earlier; loss per share $(0.07) vs. $(0.17)
Operating income $11.1 million vs. $15.6 million; Adjusted EBITDA $30.6 million vs. $33.5 million
2024 revenue now expected at $1,566 million to $1,581 million; Adjusted EBITDA at $446 million to $456 million
Laureate Education agreed on March 5, 2024 to buy 2,606,507 shares of its common stock from five sellers at $12.62 per share, for an aggregate price of $32,894,118. The repurchase is made under the company's existing $100 million share repurchase program announced February 22, 2024, so it uses part of an authorization already in place and does not change the program's terms.
Shares repurchased: 2,606,507 common shares from five named sellers
Price: $12.62 per share, $32,894,118 aggregate purchase price
Funded under the existing $100 million share repurchase program announced February 22, 2024
Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.
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