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New Oriental Announces Results for the Fourth Fiscal Quarter and the Fiscal Year Ended May 31, 2026

EDU
  • New Oriental Education & Technology Group Inc. reported unaudited financial results for the fourth fiscal quarter and fiscal year ended May 31, 2026.
  • Total net revenues for the fourth quarter increased 23.0% year over year to US$1,529.5 million, driven by growth in new educational business initiatives.
  • Operating income for the fourth quarter turned positive at US$85.8 million, a significant improvement from an operating loss of US$8.7 million in the prior-year period.
  • Net income attributable to New Oriental surged 775.8% year over year to US$62.2 million for the fourth quarter.
  • Net income per ADS attributable to New Oriental was US$0.40 on a basic basis and US$0.39 on a diluted basis for the fourth quarter.
  • Non-GAAP net income attributable to New Oriental decreased 10.5% year over year to US$87.8 million for the fourth quarter due to specific adjustments.
  • For the full fiscal year 2026, net revenues reached US$5,661.3 million, representing a 15.5% increase year over year.
  • Full-year operating income for 2026 was US$643.3 million, a 50.2% increase, while net income attributable to the company rose 27.8% to US$475.2 million.
  • Overseas test preparation revenues grew approximately 3.6%, while domestic test preparation for adults and university students grew approximately 29.1% in the fourth quarter.
  • New educational initiatives grew approximately 24.8% year over year, with non-academic tutoring courses reaching around 60 cities and 1,072,000 student enrollments.
  • The company launched "New Oriental Home," a customer service platform serving over 950,000 families across 69 cities to enhance retention.
  • AI integration was advanced across the education ecosystem, including enhancements to the OMO teaching system and AI-powered products.
  • East Buy, the e-commerce subsidiary, launched 11 new Douyin accounts, expanded its channel matrix to 18, and upgraded its live streaming system.
  • The company repurchased approximately 51.5 million common shares for US$274.0 million under the FY2026 share repurchase program as of July 28, 2026.
  • A cash dividend of US$0.12 per common share (US$1.20 per ADS) for FY2026 was fully paid in two installments.
  • For fiscal year 2027, the board approved an expected aggregate cash dividend of approximately US$300 million, to be paid in December 2026 and June 2027.
  • A new share repurchase program for FY2027 was authorized for up to US$200 million over the subsequent 12 months.
  • New Oriental forecasts total net revenues for FY2027 to be between US$6,453.9 million and US$6,680.3 million, representing 14% to 18% growth.
  • The company held US$1,821.2 million in cash and cash equivalents as of May 31, 2026, with total deferred revenue reaching US$2,242.9 million.
  • Non-GAAP operating margin for the fourth quarter was 7.2%, an increase of 60 basis points from the prior-year period.
  • Non-GAAP operating margin for the full fiscal year 2026 expanded to 13.0%, up from 11.3% in the previous year.