New Oriental Education & Technology Group Inc. (EDU), on Wednesday reported higher earnings in the third quarter compared with the previous year, primarily driven by strong growth in core and new education businesses, increased enrollments and users, and improved operational efficiency.
For the third quarter of fiscal year 2026, net income attributable to the company's shareholders increased to $126.82 million from $87.26 million in the previous year.
Earnings per share were $0.08 versus $0.05 last year.
Earnings per AD were $0.79 versus $0.54 last year.
On the adjusted basis, net income attributable to the company increased to $152.18 million from $113.34 million in the previous year.
Adjusted earnings per share were $0.10 versus $0.07 last year.
Adjusted earnings per ADS were $0.95 versus $0.70 last year.
Operating income jumped to $180.32 million from $124.52 million in the prior year.
Net revenue increased to $1.42 billion from $1.18 bllion in the previous year.
Further, the company said its board has approved the payment of the second installment of its fiscal 2026 dividend of $0.06 per common share, or $0.60 per ADS.
The dividend will be paid to shareholders of record as of May 15, with payment expected on or around June 2 for common shareholders and June 5 for ADS holders.
The company added that the dividend forms part of its previously announced total payout of $0.12 per common share for fiscal 2026.
Looking ahead, the company expects fourth-quarter net revenues to be in the range of $1.43 billion to $1.47 billion, representing a year-over-year increase of 15% to 18%.
The company raised its full-year fiscal 2026 total net revenue guidance to a range of $5.56 billion to $5.60 billion, representing year-over-year growth of 13% to 14%.
New Oriental Education & Technology Group is 1.51% higher at $57.21 on the New York Stock Exchange.
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