Hong Kong · Delayed Price · Currency is HKD New Oriental Education & Technology Group Earnings Call Transcripts
Fiscal Year 2026
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Q3 FY2026 saw 19.8% revenue growth and significant margin expansion, driven by operational efficiency, cost control, and strong performance in core and new business lines. Guidance for Q4 and FY2026 was raised, with continued focus on AI, family-oriented services, and shareholder returns.
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Q2 FY2026 saw 14.7% revenue growth and a 206.9% surge in non-GAAP operating income, with strong K-12 and new initiatives offsetting overseas headwinds. Full-year guidance was raised, margins expanded, and shareholder returns enhanced through dividends and buybacks.
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Q1 net revenue grew 6.1% year-over-year, with strong margin expansion and robust growth in new business initiatives. Guidance for Q2 and FY2026 was raised, supported by K-12 acceleration and continued cost control. Shareholder returns include a $190M dividend and $300M buyback.
Fiscal Year 2025
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Q4 FY2025 saw strong revenue growth in new ventures and improved margins, with non-GAAP net income up 59.4% year-over-year. FY2026 guidance projects 5–10% revenue growth, with margin expansion and a new shareholder return plan allocating at least 50% of net income to dividends or buybacks.
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Q3 saw stable core educational growth and strong new business momentum, with operating income up 9.8% year-over-year and significant investments in AI and technology. Q4 revenue is projected to rise 10–13% year-over-year, and further margin expansion is expected.
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Revenue grew 19.4% year-over-year, with strong gains in new business lines and tourism. Net income rose 6.2% year-over-year, and the company maintains a robust cash position. Q3 guidance reflects slower growth due to macroeconomic headwinds and currency effects.
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Q1 FY2025 saw 30.5% top-line growth and strong margin expansion, with new business initiatives and tourism driving significant revenue gains. Guidance for Q2 expects 25–28% revenue growth, with full-year margins set to expand despite seasonal and tourism-related pressures.
Fiscal Year 2024
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Reported 32.1% year-over-year revenue growth, with strong performance in core and new business lines. Margin pressure in Q4 was due to one-time costs, but margin expansion is expected in FY2025. Cash position remains robust, and a $400M share buyback is ongoing.