新东方-S(09901) - 2025 Q3 - 季度业绩

Financial Performance - For the third quarter of fiscal year 2025, net revenue decreased by 2.0% year-over-year to $1,183.1 million, while net revenue excluding self-operated products and live e-commerce increased by 21.2$1,038.3 million[9]. - Operating profit for the third quarter increased by 9.8% year-over-year to $124.5 million, with operating profit excluding losses from self-operated products and live e-commerce rising by 5.0$125.5 million[9]. - Net profit attributable to New Oriental shareholders for the third quarter rose by 0.1% year-over-year to $87.3 million[9]. - In the first nine months of fiscal year 2025, net revenue increased by 15.1$3,657.1 million, and operating profit rose by 28.5% to $436.9 million[10]. - The company reported a Non-GAAP operating profit margin of 13.3$124.5 million, an increase of 9.8% year-over-year, with a Non-GAAP operating profit of $142.1 million, a slight decrease of 0.2$87.3 million, a year-over-year increase of 0.1%, with basic and diluted earnings per ADS of $0.54[20]. - The Non-GAAP net profit attributable to shareholders was$113.3 million, a year-over-year decrease of 14.3%, with Non-GAAP earnings per ADS of $0.70[21]. - For the first nine months of fiscal year 2025, net revenue was$3,657.1 million, a year-over-year increase of 15.1%[24]. - Net revenue for the three months ended February 28, 2025, was $1,183,055, a decrease of 2.1$1,207,286 for the same period in 2024[42]. - Operating profit increased to $124,519, representing a 9.6$113,432 in the prior year[42]. - Net profit attributable to shareholders was $87,255, slightly up from$87,167 year-over-year[42]. - For the nine months ended February 28, 2025, net revenue rose to $3,657,107, an increase of 15.1$3,176,907 in the previous year[49]. - Operating profit for the nine-month period was $436,924, a 28.5$339,898 in the same period last year[49]. Cash and Assets - As of February 28, 2025, cash and cash equivalents totaled $1,418.8 million, with deferred revenue increasing by 15.0$1,749.9 million[23]. - As of February 28, 2025, total assets amounted to $7,447.2 million, a decrease from$7,531.7 million as of May 31, 2024[39]. - Total liabilities decreased slightly to $3,471.7 million from$3,482.7 million during the same period[40]. - Shareholders' equity totaled $3,686.2 million, down from$3,775.9 million[40]. - Cash and cash equivalents increased to $1,418.8 million from$1,389.4 million[39]. - Short-term investments decreased to $1,853.6 million from$2,065.6 million[39]. - Cash and cash equivalents at the end of February 28, 2025, were $1,589,277, a decrease from$2,189,074 at the end of February 29, 2024[54]. Operational Efficiency and Strategy - The company is focusing on enhancing product quality and operational efficiency to drive sustainable growth and profitability[12]. - New Oriental is increasing investments in artificial intelligence technology applications in the education sector to improve operational efficiency and service satisfaction[12]. - The company is actively managing the expansion of its school network and executing strategic plans amid regulatory uncertainties in the private education sector in China[34]. - The company is focused on maintaining and enhancing the "New Oriental" brand while ensuring teaching and service quality[34]. - Future outlook includes potential benefits from recent and upcoming acquisitions, despite ongoing litigation risks[34]. Shareholder Returns and Financial Metrics - The total value of the share repurchase plan has been increased to $700 million, with approximately 14.4 million ADS repurchased for a total value of about$695.5 million as of April 22, 2025[13]. - The company reported a net profit excluding stock-based compensation and other adjustments, indicating a focus on Non-GAAP financial metrics[35]. - The company emphasized the importance of Non-GAAP financial indicators for assessing performance and liquidity[36]. - The weighted average shares used for calculating basic net profit per ADS decreased from 1,653,742,514 in 2024 to 1,630,423,658 in 2025, a reduction of approximately 1.4%[52]. - New Oriental's basic net profit per American depositary share (ADS) for the nine months ended February 28, 2025, was $2.24, up from$1.71 for the same period in 2024, representing a 31% increase[52]. - The diluted net profit per ADS under non-GAAP for the nine months ended February 28, 2025, was $2.55, compared to$2.40 for the same period in 2024, reflecting a 6.25% increase[52]. Cash Flow and Expenses - Operating cash flow for the nine months ended February 28, 2025, was $497,470, down from$745,808 in the same period of 2024, indicating a decrease of approximately 33.3%[54]. - Total revenue costs for the nine months ended February 28, 2025, amounted to $31,297, significantly reduced from$96,661 in the same period of 2024, showing a decrease of about 67.6%[52]. - The company reported a significant increase in cash flow from investing activities, which amounted to $79,891, compared to$11,285 in the previous year[47]. - The company experienced a net cash used in financing activities of $(486,494) for the nine months ended February 28, 2025, compared to$(51,208) in the same period of 2024, indicating a substantial increase in cash outflow[54]. - The impact of foreign exchange rate changes resulted in a cash outflow of $(5,667) for the nine months ended February 28, 2025, compared to$(21,041) in the same period of 2024, showing a decrease in negative impact[54].