Covista (DVY) Q1 2027 Earnings Report
DE:DVY Q1 2027 EPS Results
- Actual EPS
- EUR 1.96
- Consensus EPS
- EUR 1.64
- Beat/Miss
- Beat by +EUR 0.32
- One Year Ago EPS
- EUR 1.56
DE:DVY Q1 2027 Revenue Results
- Actual Revenue
- EUR 457.37M
- Expected Revenue
- EUR 439.14M
- Beat/Miss
- Beat by +EUR 18.23M
- YoY Revenue Growth
- +10.65%
Earnings Announcement Details
- Quarter
- Q1 2027
- Date
- 10/29/2026
- Time
- After Close
- Conference Call
- Thursday, October 29, 2026
Covista's next earnings date is estimated for February 2, 2027, based on past reporting schedules.
Q1 2027 Earnings Call Audio
Q1 2027 Earnings Slide Deck
Q1 2027 Earnings Call Summary
The call was strongly positive. Covista reported double-digit revenue, EBITDA, net income, and EPS growth; continued company-wide enrollment gains; record Walden enrollment; strong medical and veterinary profitability; robust free cash flow; and raised fiscal 2027 revenue and EPS guidance. The main challenges were slower-than-expected Chamberlain enrollment, campus startup investments, medical-school financing hesitancy, quarterly calendar effects, a higher tax rate, and the announced CFO transition.
For fiscal 27, Covista now expects revenue in the range of $2.06 billion to $2.095 billion or approximately 5.5% to 7% growth year over year, up from its prior range of $2.05 billion to $2.09 billion, with a midpoint increase of $7.5 million; adjusted earnings per share is expected in the range of $9.00 to $9.20 or approximately 9% to 11.5% growth year over year, up from $8.90 to $9.15, with a midpoint increase of $0.07. The company is taking a prudent view of the remaining 3 quarters, expects 0 to 0.5 percentage points of EBITDA margin expansion for the full year, or up to 50 basis points of improvement, expects capital expenditures to be above fiscal 26 levels with higher spending weighted towards the first half of the year, and expects a higher effective tax rate in fiscal 27 than in fiscal 26. Walden will have 1 less week in the second quarter and 1 additional week in the third quarter compared with fiscal 2026, shifting $18 million of revenue and adjusted EBITDA from the third quarter into the second quarter last year, with no net impact on the full year.
- Strong First-Quarter Company PerformanceRevenue increased 10.7% to $511.5 million, adjusted EBITDA increased 17.1% to $131.2 million, adjusted net income increased 16.8% to $75.8 million, and adjusted EPS increased 25.1% to $2.19. Adjusted EBITDA margin expanded 1.4 percentage points to 25.6%.
- Enrollment Growth Continued Across the CompanyTotal enrollment increased 7.6% to nearly 105,000 students, marking the 13th consecutive quarter of total enrollment growth. Management said all three segments contributed to the increase.
- Fiscal 2027 Guidance RaisedManagement raised fiscal 2027 revenue guidance to $2.06 billion-$2.095 billion, representing approximately 5.5%-7% year-over-year growth, from the prior range of $2.05 billion-$2.09 billion. Adjusted EPS guidance was raised to $9.00-$9.20, representing approximately 9%-11.5% growth, from the prior range of $8.90-$9.15.
- Strong Cash Flow and Balance SheetTrailing-12-month free cash flow increased 11.4% to $355 million. Covista ended the quarter with $222 million in cash and cash equivalents and net leverage of 0.5x.
- Share Repurchases and Lower Financing CostsThe company repurchased $84 million of stock, or approximately 660,000 shares at an average price of $127.63, with $578 million remaining under its $750 million authorization. Interest expense declined to $9.9 million from $11.1 million, and the company repriced its $510 million term loan B, reducing the interest-rate spread by 25 basis points to SOFR plus 2%.
- Chamberlain Revenue and Nursing GrowthChamberlain revenue increased 7.4% to $192.4 million, while total enrollment increased 1.3% to more than 40,000 students. Prelicensure BSN enrollment increased 13.2% and recorded its 17th consecutive quarter of growth. Chamberlain adjusted EBITDA increased 7.1% to $37.6 million.
- Chamberlain Expansion into New MarketsThe Cincinnati campus opened in August, Salt Lake City began classes during the quarter, and Nashville is expected to open in January. Chamberlain also opened its second physician assistant program in Phoenix at full capacity, with a third location in development.
- Walden Delivered Record Enrollment and Double-Digit GrowthWalden revenue increased 14.1% to $216.7 million. Enrollment increased 12.8% to nearly 59,000 students, the highest total enrollment in the university's history. Walden achieved its 13th consecutive quarter of enrollment growth and 10th consecutive quarter of double-digit growth.
- Walden Profitability and Undergraduate MomentumWalden adjusted EBITDA increased 16.1% to $71.9 million, and adjusted EBITDA margin expanded 60 basis points to 33.2%. Undergraduate enrollment increased by more than 20% in the first quarter, with strength also reported across doctoral and other undergraduate programs. Management said strong persistence continued to compound new enrollment growth.
- Medical and Veterinary Segment Profit GrowthMedical and veterinary segment revenue increased 10% to $102.5 million. Adjusted EBITDA increased 27.9% to $27.4 million, and adjusted EBITDA margin expanded 3.7 percentage points to 26.7%. Management said veterinary operations continued to run near capacity.
- Medical and Veterinary Student OutcomesManagement said Ross Med and AUC students who sat for USMLE Step 1 passed on their first attempt at rates comparable to or higher than USMD students with similar MCAT scores in most score ranges. Leading indicators for the veterinary licensing exam were also described as continuing to strengthen.
- Employer Partnerships ExpandedThe collaboration with Advocate Health began in Wisconsin and is planned to expand across all three Chicago-area Chamberlain campuses. The SSM Health partnership has outperformed expectations, leading Covista to raise enrollment targets with the health system.
- Technology and AI Initiatives AdvancedThe AI-powered classroom moved beyond the prototype stage into full development and testing. Management said the initiative is being designed to provide a more personalized learning journey and differentiated student experience from initial inquiry through licensure.
- Resilience in AI Search VisibilityManagement said the shift to AI search had not created meaningful headwinds in inquiries, applications, or new enrollment. Covista is monitoring brand and program visibility in large language model search, with Chamberlain descriptions approximately 90% positive in most LLM searches and additional upside identified for Walden.
- Operating Leverage Despite Strategic InvestmentManagement said revenue growth and platform efficiencies generated operating leverage, partially offset by investments in strategic growth initiatives. Capital expenditures increased to $99 million from $56 million over the comparable trailing-12-month period as the company invested in new campus capacity and technology.
- Employer-Funded Education DemandManagement said a significant portion of students now arrive through employers that help pay for their education. The employer-integration model was described as providing health systems with a talent pipeline, Covista with more durable enrollment at a lower acquisition cost, and students with financial support.
- Durable Healthcare Education DemandManagement reported no reduction in demand for healthcare workers from employers or prospective talent. Healthcare accounted for about three out of every four U.S. jobs created over the past year, and management cited roughly 93,000 qualified nursing applicants and about 30,000 qualified medical-school applicants turned away last year because of capacity constraints.
- Capital Funding Supports Growth PrioritiesManagement said new campuses, programs, and technology were funded from operating cash while the company also repurchased stock. The company plans to continue investing in operational excellence, platform extension, employer integration, and AI-powered education.
- New Campuses and Employer Programs Began Serving StudentsIn the closing remarks, management highlighted that the first student began classes at Salt Lake City and that the first Advocate students in Chicago began their journey with Covista.
DE:DVY Earnings History
| Report Date | Fiscal Quarter | Forecast / EPS | Last Year's EPS | EPS YoY Change | Press Release |
|---|---|---|---|---|---|
| Feb 02, 2027 | 2027 (Q2) | 1.95- | 2.17 | ― | ― |
| Oct 29, 2026 | 2027 (Q1) | 1.641.96 | 1.56 | 25.14% (+0.39) | |
| Aug 06, 2026 | 2026 (Q4) | 1.691.87 | 1.48 | 25.90% (+0.38) | |
| May 07, 2026 | 2026 (Q3) | 1.541.77 | 1.72 | 3.13% (+0.05) | |
| Jan 28, 2026 | 2026 (Q2) | 1.962.17 | 1.62 | 34.25% (+0.55) | |
| Oct 30, 2025 | 2026 (Q1) | 1.411.56 | 1.15 | 35.66% (+0.41) | |
| Jun 30, 2025 | 2025 (Q4) | 1.371.48 | 1.22 | 21.17% (+0.26) | |
| May 08, 2025 | 2025 (Q3) | 1.481.72 | 1.34 | 28.00% (+0.38) | |
| Jan 30, 2025 | 2025 (Q2) | 1.221.62 | 1.1 | 47.15% (+0.52) | |
| Oct 29, 2024 | 2025 (Q1) | 1.011.15 | 0.83 | 38.71% (+0.32) |
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
