Covista Inc. · NYSE:CVSA
Covista — Adtalem Global Education — Q4 2020 Earnings Presentation
16 slides from Covista's earnings presentation, Aug 18, 2020
Slide 1: Q4 2020 Earnings Presentation
Q4 2020 Earnings Presentation August 18, 2020
Slide 2: Safe Harbor
Safe Harbor Certain statements contained in this presentation concerning Adtalem Global Education’s future performance, including those statements concerning expectations or plans, constitute “forward-looking statements” within the meaning of the Safe Harbor Provision of the Private Securities Litig
Slide 3: Q4 and Full Year 2020 Highlights
Q4 and Full Year 2020 Highlights Q4 Full Year Delivered healthy revenue and EPS results despite COVID-19 challenges Revenue $259.7 million $1.1 billion Net Income1 Pivoted quickly to “New Normal,” leveraging online learning tools, virtual formats $30.5 million $123.5 million Earnings Per Share1 Adva
Slide 4: Adtalem Highlights
Adtalem Highlights Leveraging online capabilities and resilient leadership to mitigate risk in a challenging environment • Adapted quickly to meet the needs of learners and capture changes in demand: - Leveraging our existing infrastructure, rapidly transitioned 15,000 on-campus students to our onli
Slide 5: Medical & Healthcare
Medical & Healthcare Continuing to deliver superior student outcomes and results despite impact from COVID-19 • Chamberlain University: - First quarter calendar year 2020 first-time NCLEX pass rate reached 92% - Record high new student enrollment for the past five sessions and record high total enro
Slide 6: Financial Services
Financial Services Continued to invest in new capabilities to drive revenue growth • ACAMS: - Held first ever ACAMS 24-hour Virtual Summit, attracting 2,600 paid attendees from over 100 countries - Launched Know Your Customer Associate certification for front line and operational teams in the financ
Slide 7: FY 2020 Financial Highlights
FY 2020 Financial Highlights Revenue $1,052 ($ in millions) • Revenue growth across both verticals driven $1,014 by strategic investment in marketing and student recruitment, and boosted by 3.8% OnCourse Learning acquisition, offset by COVID-19 impacts FY 2019 FY 2020 Operating Income1 ($ in million
Slide 8: Q4 2020 Financial Highlights
Q4 2020 Financial Highlights Revenue $264 • Strong enrollment across institutions, strong ($ in millions) $260 B2C growth at Becker and increased (1.7%) members at ACAMS coupled with new products aided revenue growth. However, those growth vectors were more than offset by COVID-19 impacts Q4 2019 Q4
Slide 9: Q4 2020 Financials by Vertical
Q4 2020 Financials by Vertical Revenue ($M) Operating Income1 ($M) Medical & Healthcare • Revenue was flat year-over- • Operating income was flat (0.1%) year, driven by strong year-over-year, as strong enrollment at Chamberlain, (0.3%) student enrollment at offset by COVID-related Chamberlain and pr
Slide 10: Segment Adjusted Full Year Operating Income
Segment Adjusted Full Year Operating Income Medical and Healthcare Key Metrics Operating Income (OI) OI Margin 20191 $181.2 million 21.3% 20201 $167.7 million 19.4% Estimated COVID-19 related impact $14.0 million 1.6% Change in corporate allocations2 $7.6 million 0.9% Adjusted 2020 Operating Income1
Slide 11: Generating Strong Free Cash Flow
Generating Strong Free Cash Flow Key Metrics Trailing 12 months, as of June 30, 2020 Operating Cash Flow1 $150 million $250 Free Cash Flow1 $105 million ($72) ($125) ($125) ($163) 1)From continuing operations Note: Free cash flow is a non-GAAP financial measure defined as net cash provided by (used
Slide 12: Liquidity and Capital Structure
Liquidity and Capital Structure Available liquidity positions us well to navigate the unknown impact of COVID-19 Key Metrics March 31, 2020 June 30, 2020 Cash, cash equivalents1 $168 million1 $501 million1 Capacity available under revolver $72 million $232 million Total Debt $455 million 294 million
Slide 13: Appendix
Appendix ADTALEM
Slide 14: Non-GAAP Reconciliation Tables
Non-GAAP Reconciliation Tables ©2020 Adtalem Global Education Inc. All rights reserved. 14
Slide 15: Non-GAAP Reconciliation Tables
Non-GAAP Reconciliation Tables ©2020 Adtalem Global Education Inc. All rights reserved. 15
Slide 16: Non-GAAP Reconciliation Tables
Non-GAAP Reconciliation Tables Key Metrics Trailing 12 months, as of June 30, 2020 Operating Cash Flow (GAAP measure)1 $150 million Capital Expenditures $44 million Free Cash Flow (Non-GAAP measure)1 $105 million 1) From continuing operations ©2020 Adtalem Global Education Inc. All rights reserved.
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