Covista Inc. · NYSE:CVSA

Covista — Adtalem Global Education — Q3 2021 Earnings Presentation

21 slides from Covista's earnings presentation, Apr 29, 2021

  1. Slide 1: Q3 2021 Earnings Presentation

    Q3 2021 Earnings Presentation April 29, 2021

  2. 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

  3. Slide 3: Third-Quarter 2021 Highlights

    Third-Quarter 2021 Highlights Q3 results in-line with our previously communicated expectations; our workforce solutions strategy continues to deliver strong results; reaffirming full-year outlook Q3 2021 • Results in-line with previously communicated expectations: Revenue - Revenue increased 3.4% -

  4. Slide 4: Medical & Healthcare

    Medical & Healthcare Demand remains strong, driven by our superior student outcomes, strong secular trends, operational improvements and marketing investments Chamberlain University: - First-time NCLEX pass rate reached 90.7%, exceeding the national average pass rate of 90.3% - Achieved record new s

  5. Slide 5: Financial Services

    Financial Services Capturing demand generated by strong secular trends and establishing prominent growth vectors to enable expansion and diversification into new markets ACAMS: - Remains the leader in the rapidly growing anti-financial crimes marketplace; continue to see strong demand for anti-finan

  6. Slide 6: Q3 2021 P&L Highlights

    Q3 2021 P&L Highlights Revenue (in millions) $280.7 $271.5 +3.4% Revenue growth in both segments driven primarily by Chamberlain enrollment growth over the last 18 months and revenue growth at ACAMS, OnCourse Learning and Becker. Q3 2020 Q3 2021 Operating Income1 $56.3 (in millions) $49.1 -12.9% Ope

  7. Slide 7: Q3 2021 Medical & Healthcare Performance

    Q3 2021 Medical & Healthcare Performance Revenue ($M) Operating Income1 ($M) +1.3% -11.2% $230.2 $57.6 $227.3 $51.1 Q3 2020 Q3 2021 Q3 2020 Q3 2021 • Q3 revenue growth driven by enrollment growth at Chamberlain over the last 18 months, partially offset by lower clinical and housing revenue at Ross M

  8. Slide 8: Q3 2021 Financial Services Performance

    Q3 2021 Financial Services Performance Revenue ($M) Operating Income1 ($M) +14.3% -6.8% $50.4 $4.2 $3.9 $44.1 Q3 2020 Q3 2021 Q3 2020 Q3 2021 • Revenue growth driven by increases at ACAMS, OnCourse Learning and Becker • Operating income1 decrease driven primarily by increased sales and marketing exp

  9. Slide 9: Q3 Liquidity and Share Repurchases

    Q3 Liquidity and Share Repurchases Liquidity1 (millions) Cash and cash equivalents2 $498 Repurchased 975K shares for a total of Capacity available under revolver $232 $37M in Q3 Total liquidity as of Mar 31, 2021 $730 1) As of March 31, 2021 2) Excludes $808 million of restricted cash ©2021 Adtalem

  10. Slide 10: Q3 Free Cash Flow

    Q3 Free Cash Flow Free Cash Flow (millions) Increase/ Year-over-year decrease of $33.4 million in 3Q 2021 3Q 2020 (Decrease) free cash flow is due to timing of receipt of $35.5 million of Title IV funds in December Operating Cash Flow $81.9 $116.3 $(34.4) normally received in January Capital Expendi

  11. Slide 11: Strong Free Cash Flow Generation Driven by Operating Model

    Strong Free Cash Flow Generation Driven by Operating Model Adtalem is well-positioned to grow standalone FCF over the long-term in line with earnings Free Cash Flow – Trailing Twelve Months (in millions) $211 $178 $1751 $153 $126 $105 Mar 31, 2020 Jun 30, 2020 Sep 30, 2020 Dec 31, 2020 Mar 31, 2021

  12. Slide 12: Outlook

    Outlook Reaffirming our FY 2021 revenue and diluted EPS1 growth outlook REVENUE GROWTH EARNINGS PER SHARE1 GROWTH SHARE REPURCHASE +5-7% +28-32% $100M Continue to expect revenue to increase 5- Continue to expect diluted EPS, excl. Continue to plan to repurchase up to 7% as we benefit from strong exe

  13. Slide 13: Q&A

    Q&A ADTALEM par ED

  14. Slide 14: Appendix

    Appendix ADTALEM

  15. Slide 15: Non-GAAP Financial Measures and Reconciliations

    Non-GAAP Financial Measures and Reconciliations We believe that certain non-GAAP financial measures provides investors with useful supplemental information regarding the underlying business trends and performance of Adtalem’s ongoing operations and is useful for period-over-period comparisons. We us

  16. Slide 16: Enrollment

    Enrollment 3Q 2021 3Q 2020 % Change Adtalem Global Education Student Enrollments(1) New students 3,872 3,559 +8.8% Total students 40,994 39,391 +4.1% Chamberlain University January Session New students 5,202 5,293 -1.7% Total students 35,750 33,850 +5.6% March Session New students(2) 3,283 3,073 +6.

  17. Slide 17: Non-GAAP Reconciliation Tables

    Non-GAAP Reconciliation Tables ©2021 Adtalem Global Education Inc. All rights reserved. 17

  18. Slide 18: Non-GAAP Reconciliation Tables

    Non-GAAP Reconciliation Tables ©2021 Adtalem Global Education Inc. All rights reserved. 18

  19. Slide 19: Non-GAAP Reconciliation Tables

    Non-GAAP Reconciliation Tables ©2021 Adtalem Global Education Inc. All rights reserved. 19

  20. Slide 20: Non-GAAP Reconciliation Tables

    Non-GAAP Reconciliation Tables ©2021 Adtalem Global Education Inc. All rights reserved. 20

  21. Slide 21: Non-GAAP Reconciliation Tables

    Non-GAAP Reconciliation Tables ©2021 Adtalem Global Education Inc. All rights reserved. 21

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