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Sep 30, 2020
UTI Q4 2020 Earnings Report
Reported financial results for the fiscal 2020 fourth quarter and full year ended September 30, 2020.
Key Takeaways
Universal Technical Institute reported a 1.1% increase in new student starts and a net income of $6.5 million for the fourth quarter of fiscal year 2020. Revenues decreased by 12.9% to $76.3 million, while operating income was $6.2 million.
Net income increased 17.8% from prior year period.
Available liquidity increased by $23 million versus the end of the prior quarter.
New student starts increased 1.1% versus the prior year on a comparable basis.
UTI expects double-digit growth in new student starts, revenue, adjusted EBITDA, net income, and adjusted free cash flow during fiscal year 2021.
UTI
UTI
Forward Guidance
UTI expects to see growth across all of our key metrics including student starts, revenue, adjusted EBITDA*, and adjusted free cash flow*, and to deliver positive net income for the second consecutive year.