Adtalem Global Education Inc. reported a revenue increase of 12.4% to $503.4 million for the second quarter of fiscal year 2026, compared to $447.7 million in the same period last year. The company's net income rose slightly by 0.7% to $76.4 million, driven by higher revenues and reduced interest expenses, despite increased costs associated with strategic initiatives and marketing. Diluted earnings per share increased by 6.6% to $2.11, reflecting a decrease in the number of shares outstanding due to share repurchase activities.
In terms of operational performance, Adtalem's revenue growth was attributed to all segments, with Walden University experiencing a significant 27.0% increase in revenue to $217.6 million, largely due to a 13.0% rise in student enrollment. Chamberlain University saw a modest revenue increase of 1.6% to $183.8 million, while the Medical and Veterinary segment reported a 6.9% increase to $102.0 million. The overall increase in revenue was also supported by higher tuition rates across various programs.
Adtalem's total student enrollment figures showed mixed results, with Chamberlain experiencing a slight decline of 1.0% in the November 2025 session, while Walden's enrollment grew by 13.0%. The company has been focusing on enhancing student experience and optimizing marketing strategies to address enrollment challenges, particularly in post-licensure nursing programs at Chamberlain.
The company also undertook significant share repurchase activities, buying back 1.7 million shares at an average price of $95.45 per share during the quarter. As of December 31, 2025, Adtalem had $727.5 million remaining under its latest share repurchase program, which allows for repurchases through December 2028. The company’s cash and cash equivalents decreased to $56.3 million from $199.6 million at the end of the previous fiscal period, reflecting its ongoing investments and operational expenditures.
Looking ahead, Adtalem is navigating changes in federal student aid regulations under the One Big Beautiful Bill Act, which could impact its financial aid structure and student enrollment. The company remains committed to optimizing its capital structure and exploring strategic alternatives to enhance its financial position. Management believes that its current cash flows, along with available credit facilities, will provide sufficient liquidity to meet its operational needs and support future growth initiatives.
About Adtalem Global Education Inc.
Adtalem Global Education Inc. operates as a leading healthcare-focused education provider in the U.S., offering degree and certificate programs through five institutions including Chamberlain University, Walden University, and medical and veterinary schools. Serving over 90,000 students via campuses and online, it prepares healthcare professionals, educators, and social service workers. Adtalem’s model emphasizes accessible, accredited programs designed to meet workforce demands in healthcare and related fields.
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