secwatch.observer — SEC 8-K summary
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Issuer:     UNIVERSAL TECHNICAL INSTITUTE INC (UTI)
CIK:        0001261654
Form:       8-K
Filed at:   2022-05-04T23:59:59+00:00
Accession:  0001261654-22-000082
Event type: earnings
Sentiment:  positive
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

UTI reports Q2 revenue up 31% to $102.1M; net income $7.4M; announces acquisition of Concorde
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- Revenue $102.1M (+31.4% YoY); net income $7.4M vs. loss of $1.5M; adjusted EBITDA $10.9M vs. $2.8M.
- Average undergraduate active students +13.6%; new student starts -5.4% due to Omicron.
- Revised FY2022 guidance: raised lower end of revenue and profit ranges; lowered start growth forecast.
- Agreed to acquire Concorde Career Colleges (healthcare education) to diversify into healthcare field.
- Post-quarter closed $20M financing for Lisle campus; YTD capex $24.8M for new campuses and programs.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1261654/000126165422000082/0001261654-22-000082-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1261654/000126165422000082/uti-20220504.htm
  HTML page:      https://secwatch.observer/filing/0001261654-22-000082

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