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Covista Q1 results beat estimates on enrollment growth, Walden University strength

By Reuters News


Overview

  • US healthcare educator's Q1 revenue grew 10.7% yr/yr, beating analyst expectations

  • Adjusted EBITDA for Q1 beat analyst expectations

  • Company raised fiscal 2027 revenue and adjusted EPS guidance


Outlook

  • Covista raises FY27 revenue guidance to $2.06 bln-$2.095 bln from $2.05 bln-$2.09 bln

  • Company lifts FY27 adj EPS outlook to $9.00-$9.20 from $8.90-$9.15

  • Covista says multi-year strategy focused on operational excellence and technology to drive growth


Result Drivers

  • ENROLLMENT GROWTH - Co said higher student enrollment, up 7.6% yr/yr, drove revenue growth

  • WALDEN ENROLLMENT - Walden University reported 12.8% yr/yr enrollment growth, reaching highest total enrollment in its history

  • CAMPUS EXPANSION - Co said new campus openings contributed to segment enrollment growth


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

Q1 Revenue

Beat

$511.50 mln

$491.07 mln (4 Analysts)

Q1 Net Income

$67.40 mln

Q1 Adjusted EBITDA

Beat

$131.20 mln

$118.67 mln (4 Analysts)


Reuters Recommended Reads

  • Oct 29 - Laureate Education Q3 revenue rises 21%, beats estimates

  • Oct 28 - China's New Oriental Education Q1 revenue rises 23%, confirms guidance

  • Oct 29 - China's TAL Education Q2 revenue misses estimates


For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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