===KinderCare Learning Companies (KLC) reported earnings on Wed 20 Nov 24 (a/h)

 

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.

Earnings this week : Nov 18 - 22, 24 (wk 47)

Monday (November 18)

• Morning: BRC TWST
• Afternoon: ACM BRBR SYM TCOM

Tuesday (November 19)

• Morning: AS ENR GDS J KC LOW MDT OCSL VIK VIPS VVV WMT WB
• Afternoon: AZEK DLB GBDC KEYS LZB POWL VREX ZTO

Wednesday (November 20)

• Morning: BERY DY GLBE NIO SR TGT TJX WSM WIX
• Afternoon: CPA JACK KLC  MMS NVDA PANW SNOW SQM

Thursday (November 21) 

• Morning: ATKR BIDU BJ DE BEKE SCVL VSTS WMG
• Afternoon: CPRT ESTC GAP INTU ROST UGI

Friday (November 22)

• Morning: BKE

KinderCare Learning Companies (KLC) began trading on the NYSE on Wed 9 Oct 24

Largest provider of early childhood education in U.S. saw healthy demand for its IPO, which raised $576 mln in gross proceeds

• Sector: Consumer Defensive
• Industry: Education & Training Services
• Full Time Employees: 43,560
• Founded in 1969 
• Headquartered in Portland, OR
• https://www.kc-learning.com/

Opened at $27 after pricing 24.0 mln share IPO at $24/share, at the lower end of the $23-27 expected range.

 

The company, operating under the KinderCare, Creme School, and Champions brands, has a market-leading footprint of more than 1,500 early childhood education centers in the U.S.

In 2015, KLC was acquired by Swiss private equity firm Partners Group, which is retaining a71.1% stake in KLC following the IPO.

For the six months ended June 29, 2024, revenue increased by 6.2% to $1.345 bln. KLC has-been benefiting from the return-to-office trend, and it has also been raising prices. For this same period, operating income fell by 32% yr/yr to $114.2 mln as SG&A costs increased by11% to $169.0 mln.