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Sep 30, 2021
UTI Q4 2021 Earnings Report
Reported strong Q4 2021 results, exceeding guidance across all metrics and closing the year with the highest year-end active students since fiscal year 2015.
Key Takeaways
Universal Technical Institute reported a strong fourth quarter for fiscal year 2021, with revenue increasing by 27.7% to $97.5 million and net income increasing by 86.7% to $12.0 million. The company exceeded its guidance across all metrics and finished the year with more year-end active students than it has seen since fiscal 2015.
New student starts in the fourth quarter increased 6.8% from the prior year quarter, and average active students increased 8.1%.
Revenue reached $97.5 million, a 27.7% increase compared to the prior year quarter.
Net income was $12.0 million, up 86.7% from the prior year period.
Adjusted EBITDA was $18.3 million for the fourth quarter.
UTI
UTI
Forward Guidance
The company provided fiscal 2022 guidance, including revenue of $405.0 to $420.0 million, new student start growth of 14% to 19%, and adjusted EBITDA of $50.0 to $55.0 million.