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Jun 30, 2024
UTI Q3 2024 Earnings Report
Reported strong financial results driven by revenue growth and margin expansion.
Key Takeaways
Universal Technical Institute reported a strong Q3 2024, with revenue increasing by 15.8% to $177.5 million. Net income rose to $5.0 million, and adjusted EBITDA increased by 60.9% to $18.4 million. The company is reiterating its full year guidance and initial projections for fiscal 2025, anticipating revenue of nearly $800 million and an adjusted EBITDA margin of approximately 15%.
Revenue increased by 15.8% year-over-year to $177.5 million.
Average undergraduate full-time active students grew by 13.4% year-over-year.
Net income increased to $5.0 million, compared to a net loss of $0.5 million in the prior year period.
Adjusted EBITDA increased by 60.9% to $18.4 million.
UTI
UTI
UTI Revenue by Segment
Revenue by Segment
UTI Revenue
CapyFin.comConcorde Revenue
CapyFin.com Forward Guidance
The company reiterated its full year guidance for all key metrics and expects to achieve the higher end of its guidance ranges for revenue and new student starts. They also remain confident in the initial expectations for fiscal year 2025, with revenue of nearly $800 million and adjusted EBITDA margin expansion of at least 100 basis points compared to fiscal year 2024.
Positive Outlook
- Confident in achieving the higher end of revenue guidance.
- Confident in achieving the higher end of new student starts guidance.
- Solid execution and experienced team.
- Growing markets served.
- Positioned well for continued success.
Revenue & Expenses
Visualization of income flow from segment revenue to net income