KinderCare Learning Companies beats by $0.07, beats on revs
KinderCare Learning posted higher revenue in the third quarter, boosted by higher tuition rates, in its first earnings report since its initial public offering.
The Portland, Ore.-based operator of childcare centers on Wednesday reported a profit of nearly $14 million, or 15 cents a share, compared with $16 million, or 18 cents a share, in the year-ago period.
Adjusted earnings came in at 5 cents a share.
Total revenue rose 7.5% to $671.5 million.
At its early childhood education centers, revenue rose 6.9%, of which 6% came from higher tuition rates and the rest from increased enrollment.
Revenue increased 16.8% at its before- and after-school sites, helped by new sites, offering more summer day camps and higher tuition.
Profit took a hit from lower cost reimbursement from Covid-19 related stimulus measures, as well as increased personnel costs.
Last month, KinderCare shares started trading on the New York Stock Exchange, pricing shares at $24. The stock closed Wednesday at $22.80.
The Portland, Ore.-based operator of childcare centers on Wednesday reported a profit of nearly $14 million, or 15 cents a share, compared with $16 million, or 18 cents a share, in the year-ago period.
Adjusted earnings came in at 5 cents a share.
Total revenue rose 7.5% to $671.5 million.
At its early childhood education centers, revenue rose 6.9%, of which 6% came from higher tuition rates and the rest from increased enrollment.
Revenue increased 16.8% at its before- and after-school sites, helped by new sites, offering more summer day camps and higher tuition.
Profit took a hit from lower cost reimbursement from Covid-19 related stimulus measures, as well as increased personnel costs.
Last month, KinderCare shares started trading on the New York Stock Exchange, pricing shares at $24. The stock closed Wednesday at $22.80.
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