Covista Inc. filed its quarterly report on Form 10-Q with the SEC on October 29, 2026, covering the three months ended September 30, 2026, and reporting net income of $67.4 million on revenue of $511.5 million.

Key Highlights

  • Revenue of $511,534 thousand for the three months ended September 30, 2026, up from $462,288 thousand in the same period a year earlier, according to the filing.
  • Net income of $67,427 thousand for the quarter, compared with $61,832 thousand in the prior-year quarter, as reported in the consolidated statements of income.
  • Total diluted earnings per share of $1.95 for the quarter, comprised of $2.07 from continuing operations and a loss of $0.12 from discontinued operations.
  • $81,002 thousand in common stock repurchases during the quarter, with treasury shares rising to 51,493 thousand as of September 30, 2026, from 50,717 thousand as of June 30, 2026.
  • Long-term debt declined to $495,131 thousand from $657,750 thousand at June 30, 2026, following $163,000 thousand in repayments under long-term debt obligations during the quarter.
  • 33,255,241 shares of common stock outstanding as of October 23, 2026, per the filing's cover page.

Covista Inc. Reports Operating and Financial Results for the Three Months Ended September 30, 2026

According to the Form 10-Q filed on NYSE:CVSA, Covista Inc. reported revenue of $511,534 thousand for the three months ended September 30, 2026, an increase from $462,288 thousand in the comparable prior-year quarter. Total operating cost and expense for the quarter was $413,507 thousand, yielding operating income of $98,027 thousand, compared with $85,477 thousand in the three months ended September 30, 2025. The filing identified cost of educational services of $220,759 thousand and student services and administrative expense of $192,585 thousand as the principal cost categories, along with restructuring expense of $163 thousand.

Income from continuing operations before income taxes was $89,499 thousand, after interest expense of $9,944 thousand and other income, net, of $1,416 thousand. Following a provision for income taxes of $18,017 thousand, income from continuing operations was $71,482 thousand. The filing also reported a loss from discontinued operations of $4,055 thousand, net of a benefit from income taxes of $1,365 thousand, resulting in total net income of $67,427 thousand for the quarter. Basic earnings per share from continuing operations were $2.11, and diluted earnings per share from continuing operations were $2.07, based on weighted-average diluted shares of 34,573 thousand.

On the balance sheet, total assets were $2,928,273 thousand as of September 30, 2026, compared with $3,012,708 thousand at June 30, 2026. Cash and cash equivalents declined to $222,223 thousand from $406,316 thousand over the same period. The filing attributed a significant portion of this reduction to $81,002 thousand in share repurchases, $163,000 thousand in long-term debt repayments, and $37,592 thousand in capital expenditures, partially offset by net cash provided by operating activities of $114,038 thousand. Goodwill remained unchanged at $961,262 thousand. Total shareholders' equity was $1,421,643 thousand as of September 30, 2026.

What Was Disclosed

Covista Inc. disclosed its unaudited consolidated financial results for the three months ended September 30, 2026, including revenue of $511,534 thousand, net income of $67,427 thousand, $81,002 thousand in share repurchases, and a reduction in long-term debt of $163,000 thousand during the quarter.