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Mar 31, 2024
UTI Q2 2024 Earnings Report
Reported strong second quarter results driven by double-digit growth in revenue, profitability, and new student starts, and raised full year guidance.
Key Takeaways
Universal Technical Institute reported a strong second quarter with a 12.4% increase in revenue to $184.2 million and a 18.5% increase in total new student starts. Net income increased significantly to $7.8 million. The company raised its full year guidance for new student starts, revenue, net income, and diluted earnings per share. Initial projections for fiscal year 2025 indicate revenue of nearly $800 million and adjusted EBITDA margin of approximately 15%.
Revenue of $184.2 million, a 12.4% increase year-over-year.
Total new student starts of 5,480, up 18.5% compared to the prior year.
Net income of $7.8 million, showing considerable growth year-over-year.
Raised full year guidance for new student starts, revenue, net income, and diluted earnings per share.
Revenue by Segment
Forward Guidance
The company raised its fiscal year 2024 new student start, revenue and profitability guidance, and introduced initial projections for fiscal year 2025, estimating revenue of nearly $800 million and adjusted EBITDA margin expansion of at least 100 basis points versus fiscal 2024.
Positive Outlook
- Raising fiscal year 2024 new student start guidance to 25,500 - 26,500.
- Raising fiscal year 2024 revenue guidance to $720 - $730 million.
- Raising fiscal year 2024 net income guidance to $37 - $41 million.
- Raising fiscal year 2024 diluted EPS guidance to $0.68 - $0.73.
- Maintaining fiscal year 2024 adjusted free cash flow guidance at $62 - $66 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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