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New Oriental Education & Technology Group Inc. reports recurring developments in its China private education business, including quarterly financial results, earnings call schedules and operating commentary across educational services and test preparation, overseas study consulting, educational materials and distribution, private label products, and livestreaming e-commerce. News also covers shareholder-return actions such as cash dividends and share repurchase programs.
The company is listed on the NYSE under EDU and on the Hong Kong Stock Exchange under 9901. Its NYSE-listed ADSs each represent ten common shares, and company announcements may include annual general meeting notices, voting results and ADR-related shareholder matters.
New Oriental Education & Technology Group Inc. (EDU) reported an 8.0% decline in net revenues for Q1 FY2021, totaling US$986.4 million. Operating income fell by 38.9% to US$150.3 million, with net income decreasing by 16.4% year-over-year to US$174.7 million. Despite these declines, student enrollments in academic subjects increased by 13.5%, reaching approximately 2.96 million. The company expects Q2 FY2021 revenues between US$863.7 million and US$887.3 million, indicating potential recovery. Operational margins saw some improvement due to cost control measures amidst COVID-19 challenges.
New Oriental Education and Technology Group Inc. (NYSE: EDU), the largest private education provider in China, will announce its financial results for the first fiscal quarter ending August 31, 2020, on October 13, 2020, before U.S. market opening. An earnings conference call is scheduled for the same day at 8 AM ET. Participants can register in advance to receive access information. New Oriental offers diverse educational services, including language training, online education, and overseas study consulting. More details will be available on their investor relations website.
New Oriental Education & Technology Group (NYSE: EDU) has filed its annual report on Form 20-F for the fiscal year ending May 31, 2020, with the SEC on September 16, 2020. The report is available on the company's investor relations website, with hard copies provided free of charge to shareholders upon request. As the largest private educational service provider in China, New Oriental offers a variety of programs including K-12 tutoring, test preparation, and online education.
New Oriental Education & Technology Group Inc. (NYSE: EDU) reported a 15.6% increase in fiscal year net revenues, reaching $3.58 billion. However, net revenues for Q4 2020 fell 5.3% year-over-year to $798.5 million, with net income down 69.5% to $13.2 million. Despite challenges from COVID-19, total student enrollments grew 26.3% over the fiscal year, totaling approximately 10.59 million. Looking ahead, the company anticipates Q1 FY2021 revenues between $911.2 million and $953.5 million, indicating a potential 15% to 11% year-over-year decline.
New Oriental Education and Technology Group (NYSE: EDU) will report its fourth quarter financial results for the period ending May 31, 2020, on July 28, 2020, before market opening. The management will host an earnings call at 8 AM ET on the same day. Investors can register for the call via a dedicated link and access it through dial-in numbers provided upon registration. A live and archived webcast will also be available for those unable to join the call.
New Oriental is recognized as the largest provider of private educational services in China.
New Oriental Education & Technology Group Inc. (NYSE: EDU) has priced its offering of US$300 million in 2.125% notes due 2025. The offering is compliant with Regulation S and will be listed on the Hong Kong Stock Exchange, with net proceeds expected to be about US$297.1 million. The funds will be used for general corporate purposes. Joint bookrunners for the offering are BofA Securities and UBS AG Hong Kong Branch. The notes are not registered under the Securities Act, limiting their sale within the U.S.
New Oriental Education & Technology Group Inc. (NYSE: EDU) has announced a proposed offering of senior notes outside the U.S. under Regulation S of the Securities Act of 1933. The net proceeds will be used for general corporate purposes. Joint bookrunners for the offering include BofA Securities and UBS AG Hong Kong. The notes will not be registered under the Securities Act and cannot be sold in the U.S. without proper registration. The announcement contains forward-looking statements, and actual outcomes may differ due to various risks and uncertainties.