Covista Inc. · NYSE:CVSA
Covista — Adtalem Global Education — Q3 2020 Earnings Presentation
15 slides from Covista's earnings presentation, May 5, 2020
Slide 1: Q3 2020 Earnings Presentation
Q3 2020 Earnings Presentation May 5, 2020
Slide 2: Safe Harbor
Safe Harbor Certain statements contained in this release are forward-looking statements as defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements provide current expectations of future events based on certain assumptions and include any statement that does not di
Slide 3: Adtalem Highlights
Adtalem Highlights Leveraging inherent strengths to successfully navigate through uncertain economic environment • Well-positioned to advance Workforce Solutions Provider strategy through pandemic: - Strong competitive advantages stemming from legacy of online learning and streamlined portfolio of b
Slide 4: Q3 2020 Highlights
Q3 2020 Highlights Delivered revenue growth across both verticals $271.5 million Revenue $43.2 million Net Income1 Efforts to boost enrollment in Medical and Healthcare driving growth $0.81 Earnings Per Share1 Quickly and successfully transitioned programs online with minimal disruption $126 million
Slide 5: Medical & Healthcare
Medical & Healthcare Growing enrollment and driving enhanced academic outcomes, focusing on supporting learners throughout crisis • Chamberlain University: - Double-digit new student enrollment growth during the third quarter, with increases across programs and in particular RN to BSN - 2019 first t
Slide 6: Financial Services
Financial Services Making strategic improvements across vertical • ACAMS: - Shifted CAMS certification testing to online platforms in response to COVID-19 - Certified Global Sanctions Specialist (CGSS) certification offered in more than 90 countries - Developed foundational certificate courses in an
Slide 7: Q3 2020 Financial Highlights
Q3 2020 Financial Highlights Revenue ($ in millions) $272 4.9% $259 • Revenue growth across both verticals boosted by OnCourse Learning acquisition $330.0 million Revenue Q3 2019 Q3 2020 Operating Income1 ($ in millions) $56 18.0% • Operating income driven by strong $48 enrollment trends and continu
Slide 8: Q3 2020 Solid Revenue Growth Across Segments
Q3 2020 Solid Revenue Growth Across Segments Revenue ($M) Operating Income1 ($M) Medical & Healthcare • Revenue growth driven by • Operating income driven by 1.7% strong enrollment trends at increased Chamberlain Chamberlain enrollment coupled with cost discipline across vertical, 8.7% partially off
Slide 9: Segment Adjusted Operating Income Year-over-Year
Segment Adjusted Operating Income Year-over-Year Medical and Healthcare Key Metrics Operating Income (OI) OI Margin3 Q3 20191 $53.0 million 23.7% Q3 20201 $57.6 million 25.3% Change in corporate allocations2 $1.8 million 0.8% Adjusted Q3 2020 Operating Income/Margin1 $59.4 million 26.1% Financial Se
Slide 10: Generating Strong Free Cash Flow
Generating Strong Free Cash Flow Key Metrics Trailing 12 months, as of March 31, 2020 Operating Cash Flow1 $170 million $250 Free Cash Flow1 $126 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 ope
Slide 11: Liquidity and Capital Structure
Liquidity and Capital Structure Adtalem maintains significant liquidity position. Below figures do not include $424M of proceeds from April 2020 Adtalem Brazil sale, in addition to $73 million of cash previously classified as discontinued operations. Key Metrics December 31, 2019 March 31, 2020 Cash
Slide 12: Appendix
Appendix ADTALEM
Slide 13: Non-GAAP Reconciliation Tables
Non-GAAP Reconciliation Tables Adtalem Global Education Inc. Non-GAAP Operating Income from Continuing Operations by Segment (unaudited) (in thousands) Three Months Ended Nine Months Ended March 31, March 31, Increase Increase 2020 2019 (Decrease) 2020 2019 (Decrease) Medical and Healthcare: Operati
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 Key Metrics Trailing 12 months, as of March 31, 20202 Operating Cash Flow (GAAP measure)1 $170 million Capital Expenditures1 $44 million Free Cash Flow (Non-GAAP measure)1 $126 million 1) From continuing operations. 2) For twelve months ended March 31, 2020. ©2020 Adta
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