Regina, Saskatchewan – Bright Scholar Education Holdings Limited reported solid quarterly results during its Q3 2024 earnings conference call. Led by CEO Ruolei Niu and CFO Cindy Hui Zhang, the company discussed its financial and operational achievements, emphasizing its commitment to delivering top-tier education and driving business growth.

In the third fiscal quarter, Bright Scholar saw a 6% increase in total revenues, with a focus on growth in its overseas schools business. The company’s strategic initiatives and optimized organizational structure contributed to positive adjusted net income during the period. Overseas schools remained a key growth segment, with revenue up 19.4% year-over-year, accounting for nearly half of the total revenue.

Student enrollment in overseas schools grew by 8% year-over-year, showcasing academic excellence and success. With a focus on facilitating educational opportunities and well-rounded development, Bright Scholar students achieved impressive results, including receiving offers from prestigious universities like the Russell Group.

While complementary education services saw a decrease in revenue in the third quarter, the company’s divestment strategy aimed to focus on high-growth core businesses. By reallocating resources and enhancing efficiency, Bright Scholar continues to drive innovation and enhance service delivery, particularly in its overseas schools business.

Looking at the financial results for the third quarter, Bright Scholar reported a 6.2% growth in total revenues, driven by gains in its overseas schools business. The company’s cost-saving measures and efficiency enhancements led to improved gross margins, profitability, and strong cash position, positioning it for sustainable growth and value creation for customers and shareholders in the long term.

In conclusion, Bright Scholar remains focused on expanding its overseas schools business, while strategically shaping its portfolio to maximize returns and strengthen its financial position. The company’s dedication to delivering quality education and adapting to market dynamics sets the stage for continued growth and success in the global education service sector.