Laureate Education, Inc. (NASDAQ:LAUR) Q1 2024 Earnings Call Transcript

That was the lag effect of the C2 in second half that we saw last year of the recession. So, we expected that to roll forward, impact us in the beginning of this year. And that was reflected in the guidance that we provided earlier in the year and reinforced today.

Mauricio Cepeda: Okay. I understand. Yes. Thank you. So, the point is that in absolute terms, I understand that there is this kind of revenue shift. It explains the revenues, but the absolute cost, there was an increase. So, per your answer, I understand, there is two effects, an inflation lag and a kind of a provision for doubtful debt, right, that transition as well, if I understood that correctly?

Rick Buskirk: That’s correct. And you’ll see that in our financials in Q1 was bad debt was up a little bit year-over-year in the first quarter.

Mauricio Cepeda: Perfect. Thank you.

End of Q&A:

Operator: I am showing no further questions at this time. Thank you for your participation in today’s conference. This does conclude the program. You may now disconnect.