--- title: "Covista | 8-K: FY2026 Q3 Revenue: USD 487.03 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/285656797.md" datetime: "2026-05-08T03:14:19.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/285656797.md) - [en](https://longbridge.com/en/news/285656797.md) - [zh-HK](https://longbridge.com/zh-HK/news/285656797.md) --- # Covista | 8-K: FY2026 Q3 Revenue: USD 487.03 M Revenue: As of FY2026 Q3, the actual value is USD 487.03 M. EPS: As of FY2026 Q3, the actual value is USD 1.2. EBIT: As of FY2026 Q3, the actual value is USD 104.97 M. #### Overall Performance Covista Inc. reported a total student enrollment of 100,585, marking a 6.8% year-over-year (YoY) increase and achieving its 11th consecutive quarter of growth. Revenue for the quarter reached $487.0 million, up 4.5% YoY, or 8.4% YoY when adjusted for a one-week academic shift at Walden University. GAAP net income was $41.6 million, compared to $60.8 million in the prior year. Adjusted EBITDA was $127.9 million, a slight increase from $127.8 million in the prior year, with an adjusted EBITDA margin of 26.3% compared to 27.4% previously. Operating income stood at $91.3 million, up from $90.5 million, while adjusted operating income was $102.2 million, down from $105.4 million YoY. Total operating cost and expense for the three months ended March 31, 2026, was $395,688 thousand, up from $375,546 thousand in the prior year. For the nine months ended March 31, 2026, total operating cost and expense was $1,164,770 thousand, compared to $1,066,567 thousand in the prior year. #### Capital Allocation Covista Inc. repurchased $66 million of shares during the third quarter. The company refinanced its outstanding debt, consolidating it into a $510 million Term Loan B with an extended maturity to 2033. Net leverage as of March 31, 2026, was reported at 0.7x. #### Cash Flow (Nine Months Ended March 31, 2026) Net cash provided by operating activities was $346,459 thousand, increasing from $278,207 thousand in the prior year. Net cash provided by operating activities-continuing operations was $346,414 thousand, up from $273,813 thousand. Free cash flow for the trailing twelve months ended March 31, 2026, was $336,463 thousand. Capital expenditures for the nine months ended March 31, 2026, were $50,882 thousand, compared to $31,337 thousand in the prior year. #### Segment Performance (Three Months Ended March 31, 2026 vs 2025) ##### Chamberlain - **Revenue:** $197.0 million, up 2.3% from $192.6 million. - **Operating Income:** $47.7 million, up 0.4% from $47.5 million. - **Adjusted Operating Income:** $47.9 million, up 0.8% from $47.5 million. - **Adjusted EBITDA:** $58.5 million, up 2.9% from $56.8 million. - **Total Students:** 40,767, up 0.5% from 40,564, driven by growth in pre-licensure nursing. ##### Walden - **Revenue:** $186.6 million, up 4.6% from $178.4 million. - **Operating Income:** $39.5 million, down -12.5% from $45.2 million. - **Adjusted Operating Income:** $42.4 million, down -11.7% from $48.0 million. - **Adjusted EBITDA:** $49.7 million, down -7.9% from $54.0 million. - **Total Students:** 54,474, up 12.3% from 48,526, driven by growth in healthcare and non-healthcare programs. ##### Medical and Veterinary - **Revenue:** $103.5 million, up 8.9% from $95.0 million. - **Operating Income:** $21.1 million, up 18.7% from $17.8 million. - **Adjusted Operating Income:** $21.5 million, up 20.0% from $17.9 million. - **Adjusted EBITDA:** $27.5 million, up 20.1% from $22.9 million. - **Total Students:** 5,344, up 4.1% from 5,133, driven by growth in both medical and veterinary. #### Fiscal Year 2026 Outlook Covista Inc. raised its fiscal year 2026 revenue guidance to a range of $1,930 million to $1,945 million, representing approximately 8% to 9% growth YoY, an increase from the previous range of $1,900 million to $1,940 million. The company also increased its adjusted earnings per share guidance to $7.95 to $8.15, indicating approximately 19% to 22% growth YoY, compared to the prior range of $7.80 to $8.00. ### Related Stocks - [CVSA.US](https://longbridge.com/en/quote/CVSA.US.md) ## Related News & Research - [VectorGlobal IAG Inc. Acquires New Stake in Arista Networks, Inc. $ANET](https://longbridge.com/en/news/294679176.md) - [14:52 ETTeacherLists Helps School Communities Get First-Day-Ready](https://longbridge.com/en/news/294403685.md) - [Boothe Investment Group Inc. Sells 13,044 Shares of Citigroup Inc. $C](https://longbridge.com/en/news/294473355.md) - [FinArc Investments Inc. Buys Shares of 10,150 Amgen Inc. $AMGN](https://longbridge.com/en/news/294477934.md) - [J. Derek Lewis & Associates Inc. Sells 1,742 Shares of Tesla, Inc. $TSLA](https://longbridge.com/en/news/294497342.md)