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Arco Reports First Quarter 2021 Results
Arco delivers healthy operating results in 1Q21, with net revenue 27% higher YoY, and adjusted EBITDA margin of 35.7%
Arco Platform Limited, or Arco or Company (Nasdaq: ARCE), today reported financial and operating results for the first quarter ended March 31, 2021.
“We delivered solid operating results in the first quarter of 2021 and we are encouraged by the early results from our sales cycle for the 2022 school year, as we once again benefit from industry-leading results from our partner schools at the national exam (ENEM) and continue to improve our platform and innovate. We are also excited with the initial results from our redesigned cross-sell initiative, which will help further accelerate the sale of supplemental products and leverage the scale of our Core segment. We note, however, that the COVID-19 pandemic is not yet fully behind us. We see risk of revenue recognition in 2021 to be
Operator
Good afternoon everyone. Thank you for standing by and welcome to Arco Platform Fourth Quarter 2020 Earnings Call. This event is being recorded and all participants will be in a listen-only mode during the company s presentation. After Arco remarks, there will be a question-and-answer session. At that time, further restrictions will be given. [Operator Instructions] This event is also being broadcast live via webcast and may be accessed through Arco s website at investor.arcoplatform.com where the presentation is also available.
Now, I will turn the conference over to Carina Carreira, Arco s IR Director. Carina, you may begin your presentation.
Arco Platform Limited (ARCE) Q4 2020 Earnings Call Transcript fool.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from fool.com Daily Mail and Mail on Sunday newspapers.
Pearson 2020 Preliminary Results and strategy update (Unaudited)
Resilience despite COVID-19 challenges. Repositioning Pearson for sustainable growth.
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Highlights
Underlying revenue declined 10%.
Global Assessment 14% lower, and International down 19%.
North American Courseware down 13%, with US Higher Education Courseware in line with pre-COVID expectations.
Performance in line with revised expectations post COVID-19;
with adjusted operating profit of £313m (2019: £581m)
Adjusted earnings per share of 28.7p (2019: 57.8p) after an effective tax rate charge of 13.7% (2019: 16.5%).
Strong balance sheet and cash performance
Operating cash flow of £315m (2019: £418m) with a conversion rate of 101% reflects lower profit partially offset by good working capital management.
Poster for the Ecumenical Fraternity Campaign for Lent 2021. Credit: National Conference of Bishops of Brazil.
Brasilia, Brazil, Feb 17, 2021 / 12:39 pm (CNA).- The National Conference of Bishops of Brazil has issued a statement to confront a wave of complaints over the inclusion of gender ideology and the almost null presence of Catholic concepts in the base text of the Ecumenical Fraternity Campaign for Lent 2021.
The Fraternity Campaign is a prominent Catholic fundraiser celebrated in Brazil during Lent; every five years it is carried out in conjunction with mainline ecclesial communities.
This year’s campaign is entitled “Fraternity and dialogue: commitment of love”, and the motto is a phrase from the Letter from Paul to the Ephesians: “Christ is our peace: he who made one of both peoples.”