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Dec 31, 2023
UTI Q1 2024 Earnings Report
Reported first quarter results, exceeding financial expectations and advancing growth, diversification, and optimization strategy.
Key Takeaways
Universal Technical Institute reported a strong first quarter for fiscal year 2024, with revenue increasing by 45.6% to $174.7 million. Net income significantly increased to $10.4 million, and new student starts grew across both the UTI and Concorde divisions. The company also raised its full-year guidance for revenue, net income, and EPS.
Revenue increased by 45.6% to $174.7 million.
Net income was reported at $10.4 million.
Total new student starts reached 4,346, with UTI contributing 2,314 and Concorde contributing 2,032.
Full year guidance was raised for revenue, net income, and diluted EPS.
Revenue by Segment
Forward Guidance
Universal Technical Institute has updated its fiscal year 2024 financial outlook, raising expectations for revenue, net income, diluted EPS, and adjusted EBITDA. The company anticipates continued strategic progress and high-quality training experiences for students.
Positive Outlook
- New student starts are expected to be between 24,500 and 25,500.
- Revenue is projected to be in the range of $710 million to $720 million.
- Net income is anticipated to be between $36 million and $40 million.
- Diluted EPS is expected to be in the range of $0.67 to $0.72.
- Adjusted EBITDA is projected to be between $100 million and $103 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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