Covista (CVSA) Q4 FY2026 earnings: revenue $501 million, up 9.7% on the year

Covista Inc. (CVSA) reported revenue of $501 million for Q4 FY2026, the quarter ended 30 June 2026, up 9.7% on the same quarter a year earlier. Net income was $72 million, up 32.3% on the year, and diluted earnings per share $2.06. The figures are the company's own, from the 10-K it filed with the SEC on 6 August 2026.

Revenue$501 millionup 9.7%

Net income$72 millionup 32.3%

Diluted EPS$2.06

QuarterQ4 FY2026ended 30 June 2026

What management said

Guidance figures: 2 new.

Twelfth consecutive quarter of total enrollment growth: Total student enrollment reached 99,472 students, up 8.4% year-over-year, achieving the 12th consecutive quarter of enrollment growth across all three segments.
Chamberlain returned to positive growth after turnaround: Chamberlain University achieved 1.6% total enrollment growth with 39,501 students and delivered 16th consecutive quarter of pre-licensure BSN enrollment growth.
Walden achieved record enrollment and double-digit growth: Walden University reached record total enrollment of 54,851 students, up 14.0% year-over-year, with 12th consecutive quarter of total enrollment growth.

Read the earnings call summary

The quarter, against the one before and a year earlier

Line	Q4 FY2026	Q3 FY2026	Q4 FY2025	Change on the year
Revenue	501	487	457	+9.7%
Cost of revenue	217	211	199	+9.0%
Gross profit	285	276	258	+10.2%
Gross margin	56.8%	56.7%	56.5%
Selling, general and administrative	188	184	181	+4.0%
Operating income	95.4	91.3	76.9	+24.1%
Operating margin	19.0%	18.8%	16.8%
Interest expense	9.8	13.6	10.9	-9.7%
Pre-tax income	88.4	77.9	68.6	+28.9%
Income tax	16.2	20.0	14.1	+15.0%
Effective tax rate	18.4%	25.6%	20.6%
Net income	71.7	41.6	54.2	+32.3%
Net margin	14.3%	8.5%	11.9%
Diluted EPS	$2.06	$1.20	$1.44	+43.1%

$ million except per share.

Fourth quarters are the year less the first three quarters. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow and capital returned

Line	Q4 FY2026	Q3 FY2026	Q4 FY2025	Change on the year
Operating cash flow	124	186	59.7	+107.7%
Capital expenditure	26.8	20.2	19.0	+41.2%
Free cash flow	97.1	166	40.7	+138.7%
Free cash flow margin	19.4%	34.1%	8.9%
Cash from investing	-27.8	-20.2	-11.7	n/a
Cash from financing	163	-75.7	-68.1	n/a
Depreciation and amortisation	14.0	14.2	13.2	+6.0%
Share-based compensation	10.1	9.6	10.4	-2.8%
Buybacks	0.0	67.5	66.7	n/a
Diluted shares, weighted	n/a	35m	n/a	n/a
Shares outstanding at period end	34m	34m	36m	-5.3%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet at quarter end

Line	Q4 FY2026	Q3 FY2026	Q4 FY2025	Change on the year
Shareholders' equity	1,446	1,364	1,434	+0.9%
Debt	663	499	553	+19.9%
Operating lease liabilities	208	202	186	+11.6%
Other liabilities	696	672	580	+20.0%
Total liabilities and equity	3,013	2,737	2,752	+9.5%
Fixed assets	303	277	256	+18.2%
Goodwill	961	961	961	+0.0%
Intangible assets	754	757	765	-1.5%
Cash and equivalents	406	147	200	+103.6%
Receivables	167	173	143	+16.3%
Other assets	421	422	426	-1.2%
Total assets	3,013	2,737	2,752	+9.5%

Questions

What was Covista's revenue in Q4 FY2026?

Covista (CVSA) reported revenue of $501 million for Q4 FY2026, the quarter ended 30 June 2026, up 9.7% on the same quarter a year earlier.

How much did Covista earn in Q4 FY2026?

Net income for Q4 FY2026 was $72 million, up 32.3% on the year, and diluted earnings per share $2.06.

When did Covista report Q4 FY2026 results?

Covista filed its 10-K for the year that ended with the quarter on 6 August 2026; the fourth quarter is the year less the first three.

Quarterly results, the last 12 quarters

	Q1 FY2024 †	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026	Q4 FY2026 *
Revenue	369	393	413	410	417	448	466	457	462	503	487	501
Cost of revenue	169	172	175	183	186	187	200	199	201	205	211	217
Gross profit	200	221	237	227	231	261	266	258	262	298	276	285
Gross margin	54%	56%	58%	55%	55%	58%	57%	56%	57%	59%	57%	57%
SG&A	166	156	157	155	159	157	175	181	176	183	184	188
Operating income	28.2	58.6	61.7	68.5	70.2	104	90.5	76.9	85.5	111	91.3	95.4
Operating margin	8%	15%	15%	17%	17%	23%	19%	17%	18%	22%	19%	19%
Interest expense	15.7	16.7	16.6	14.7	14.5	13.9	13.1	10.9	11.1	10.9	13.6	9.8
Pre-tax income	14.8	45.5	48.0	55.7	58.4	92.2	79.3	68.6	76.9	102	77.9	88.4
Tax rate	19%	17%	22%	9%	21%	23%	23%	21%	21%	25%	26%	18%
Net income	10.6	39.9	36.8	49.4	46.2	75.9	60.8	54.2	61.8	76.4	41.6	71.7
Net margin	3%	10%	9%	12%	11%	17%	13%	12%	13%	15%	9%	14%
Diluted EPS	$0.25	$0.98	$0.93	$1.28	$1.18	$1.98	$1.59	$1.44	$1.67	$2.11	$1.20	$2.06
Operating cash flow	95.1	-7.1	163	40.6	89.3	-19.0	208	59.7	131	29.7	186	124
Capital expenditure	10.4	15.3	21.7	n/a	10.4	10.7	10.2	19.0	16.0	14.6	20.2	26.8
Free cash flow	84.6	-22.4	141	n/a	78.9	-29.7	198	40.7	115	15.1	166	97.1
Buybacks	90.5	70.1	89.9	11.5	33.2	40.9	72.4	66.7	7.6	165	67.5	0.0
Shares outstanding	40m	40m	38m	38m	38m	37m	37m	36m	36m	35m	34m	34m
Filing	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS and diluted share count are from the company's results press release for that quarter, used where the release gives the same revenue and net income as the table. A quarter marked † is shown as the company last restated it in a later filing, so it compares with the quarters around it on one basis; rest on a figure for the one first filed. EPS is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

Source

10-K for the period ended 30 June 2026, filed 6 August 2026, accession 0001104659-26-092044: the filing on EDGAR. All of Covista Inc.'s filings: EDGAR company page.

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