Covista Q1 results beat estimates on enrollment growth, Walden University strength
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) |
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(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.)