New Oriental Education & Technology beats top and bottom line estimates; initiates Q3 outlook
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Contributor since / Followers
Contributor since / Followers
11 months ago
- New Oriental Education & Technology press release (NYSE:EDU): Q2 Non-GAAP EPADS of $0.29 beats by $0.01.
- Revenue of $869.6M (+36.3% Y/Y) beats by $58.28M.
- Net operating cash inflow for the second fiscal quarter of 2024 was approximately $300.6 million and capital expenditures for the quarter were $43.4 million.
- The total number of schools and learning centers was 843 as of November 30, 2023, an increase of 50 and 135 compared to 793 as of August 31, 2023 and 708 as of November 30, 2022, respectively.
- The total number of schools was 83 as of November 30, 2023.
- Outlook: New Oriental expects total net revenues in the third quarter of the fiscal year 2024 (December 1, 2023 to February 29, 2024) to be in the range of $1,070.9 million to $1,093.5 million vs. the consensus of $935.19 million, representing year over year increase in the range of 42% to 45%.