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Covista Reports First Quarter Fiscal Year 2027 Results; Raises Fiscal Year 2027 Revenue and Adjusted EPS Guidance

CVSA
  • Covista Inc. reported first quarter fiscal 2027 results ending September 30, 2026, with total enrollment reaching 104,713, a 7.6% increase year-over-year.
  • Revenue for the quarter was $511.5 million, representing a 10.7% year-over-year increase.
  • Diluted earnings per share were $1.95, while adjusted earnings per share reached $2.19, marking a 25.1% year-over-year growth.
  • Adjusted EBITDA rose to $131.2 million, a 17.1% increase year-over-year.
  • Chamberlain University achieved 13 consecutive quarters of total enrollment growth & 17 consecutive quarters of pre-licensure BSN growth.
  • Walden University recorded 13 straight quarters of enrollment growth, up 12.8% year-over-year, reaching its highest total enrollment in history.
  • The Medical & Veterinary segment saw enrollment growth of 3.5% year-over-year.
  • Covista repurchased $84 million of shares during the quarter & maintained a net leverage ratio of 0.5x as of September 30, 2026.
  • The company repriced its $510 million Term Loan B, reducing the interest rate margin by 25 basis points to SOFR plus 2.00%.
  • Fiscal year 2027 revenue guidance was raised to a range of $2,060 million to $2,095 million, reflecting 5.5% to 7% growth.
  • Fiscal year 2027 adjusted earnings per share guidance was increased to a range of $9.00 to $9.20, reflecting 9% to 11.5% growth.
  • Chief Financial Officer Robert Phelan announced his planned retirement & will serve until a successor is named.
  • Chamberlain University expanded its collaboration with Advocate Health to three Chicago-area campuses & opened new locations in Cincinnati & Salt Lake City.
  • Chamberlain University announced plans to open its 27th campus in Nashville, expected to begin classes in January 2027.
  • Walden University launched four new programs that enrolled over 2,000 students heading into the 2026 academic year.
  • Analysis showed students at Ross University School of Medicine & American University of the Caribbean School of Medicine passed the USMLE Step 1 exam on the first attempt at rates comparable to or higher than U.S. MD students.
  • Covista received national recognition including TIME's America's Growth Leaders 2027, World's Best Companies 2026, Newsweek's America's Greenest Companies 2027, & America's Greatest Companies 2026.