UTI reports FY2022 revenue $418.8M (+25%); guides FY2023 $595-$610M

UNIVERSAL TECHNICAL INSTITUTE INC

FY2022 revenue $418.8M (+25% YoY), net income $25.8M, adjusted EBITDA $55.9M (+71.8%); all met/surpassed guidance.
Q4 revenue $110.6M (+13.5% YoY) but net income fell 76.5% to $2.8M; adjusted EBITDA $14.0M (-23.1% vs prior year).
Completed Concorde Career Colleges acquisition for $50M on Dec 1, 2022; drew $90M from new revolving credit facility.
FY2023 guidance: revenue $595-$610M (incl. 10 months of Concorde), adjusted EBITDA $58-$62M; targets >$700M revenue in FY2024.
New student starts FY +2.7% to 13,374; average active students up 11.7% to 12,838.

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

UNIVERSAL TECHNICAL INSTITUTE INC reported the fiscal year ended September 30, 2022 results: revenue $418.8 million, net income $25.8 million. Guidance reaffirmed.

Period: the fiscal year ended September 30, 2022
Revenue: $418.8 million
Net income: $25.8 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Full year revenue of $418.8 million in 2022, an increase of 25.0% compared to the prior year

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

UNIVERSAL TECHNICAL INSTITUTE INC reported fourth quarter ended September 30, 2022 results: revenue $110.6 million, net income $2.8 million. Guidance reaffirmed.

Period: fourth quarter ended September 30, 2022
Revenue: $110.6 million
Net income: $2.8 million
Guidance: reaffirmed
Result: reported results

Exact text from the filing

for the fiscal 2022 full year and fourth quarter ended September 30, 2022. • Full year revenue of $418.8 million in 2022, an increase of 25.0% compared to the prior year, and $110.6 million in the fourth quarter, up 13.5% compared to the prior year quarter. • Full year net income was $25.8 million compared to $14.6 million in the prior year, while net income for the

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Source: SEC EDGAR

accession 0001261654-22-000102

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