Quarterly ResultMay 7, 2026, 04:29 PM
Covista Q3 Net Income Down 31.5% to $41.6M; Continuing Ops Income Down 4.6%
AI Summary
Covista Inc. reported a significant 31.5% decrease in net income to $41.6 million for the third quarter of fiscal year 2026, primarily due to a $16.3 million loss from discontinued operations. Despite this, revenue for the quarter increased by 4.5% to $487.0 million, and income from continuing operations saw a slight decrease of 4.6% to $58.0 million. For the nine-month period, net cash provided by operating activities rose to $346.5 million, and the company repurchased $239.9 million of common stock.
Key Highlights
- Q3 Net Income decreased 31.5% to $41.6 million from $60.8 million year-over-year.
- Q3 Revenue increased 4.5% to $487.0 million, up from $466.1 million in the prior year.
- Income from continuing operations for Q3 decreased 4.6% to $58.0 million.
- Discontinued operations resulted in a $16.3 million loss in Q3 2026, compared to $0.04 million income in Q3 2025.
- Net cash from operating activities for nine months rose to $346.5 million from $278.2 million.
- Common stock repurchases for treasury totaled $239.9 million for the nine months ended March 31, 2026.
- Chamberlain segment revenue grew to $197.0 million in Q3 2026 from $192.6 million.
- Walden segment revenue increased to $186.6 million in Q3 2026 from $178.4 million.
Price Impact
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