Loading...
•
Dec 31, 2019
UTI Q1 2020 Earnings Report
Reported first quarter results for fiscal year 2020.
Key Takeaways
Universal Technical Institute reported a positive start to fiscal year 2020, with revenue increasing by 5.0% to $87.2 million and net income reaching $4.7 million, a significant improvement from the prior year's loss. The company's growth strategy and investments in welding programs are expected to drive further growth.
Revenue increased by 5.0% to $87.2 million compared to the prior year quarter.
New student starts, excluding Norwood, MA campus, increased 7.7% compared to the prior year quarter.
Net income was $4.7 million, a $12.4 million increase from the prior year quarter loss.
Adjusted EBITDA was $10.1 million, an $8.7 million increase compared to the prior year quarter.
Forward Guidance
Universal Technical Institute reaffirms overall full year 2020 guidance while increasing capital expenditure guidance to reflect incremental growth investments in welding program expansions.
Positive Outlook
- New student start growth (excluding Norwood, MA campus) up 2.5% - 4.5%.
- Average student population growth up 1.0% - 2.0%.
- Revenue between $338.0M - $345.0M.
- Operating cash flow between $28.0M - $33.0M.
- Adjusted free cash flow between $23.5M - $28.5M.
Challenges Ahead
- Operating expenses between $330.0M - $335.0M.
- Operating income (loss) between $8.0M - $13.0M.
- Adjusted operating income (loss) between $13.0M - $18.0M.
- Net income between $9.5M - $14.5M.
Historical Earnings Impact
Analyze how earnings announcements historically affect stock price performance
Avg. Return Before/After Earnings
Loading earnings performance data...
Loading earnings reaction data...