---
schema_version: "secwatch.filing_event.v1"
accession: "0001261654-23-000034"
form_type: "8-K"
ticker: "UTI"
cik: "0001261654"
company_name: "UNIVERSAL TECHNICAL INSTITUTE INC"
filed_at: "2023-02-08T23:59:59+00:00"
generated_at: "2026-06-19T21:31:48.933460+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# UTI reports Q1 revenue $120M (+14% YoY), net income falls to $2.6M from $14.8M

## Summary
- Revenue $120.0M, up 14.2% YoY; Concorde contributed $14.4M from Dec 1 acquisition.
- Net income $2.6M ($0.02 diluted EPS) vs $14.8M ($0.25) prior year; adjusted net income $5.3M.
- Adjusted EBITDA $14.4M vs $20.6M prior year; UTI segment adjusted EBITDA $23.3M vs $28.7M.
- New student starts 2,310 (336 Concorde); total Concorde avg active students 7,737.
- Reaffirms FY2023 guidance; targets FY2024 revenue >$700M and Adj EBITDA ~$100M.

## SEC filing metadata
- accession: 0001261654-23-000034
- form_type: 8-K
- ticker: UTI
- cik: 0001261654
- company_name: UNIVERSAL TECHNICAL INSTITUTE INC
- filed_at: 2023-02-08T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1261654/000126165423000034/0001261654-23-000034-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1261654/000126165423000034/uti-20230208.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001261654-23-000034
- JSON: https://secwatch.observer/filing/0001261654-23-000034.json
- Plain text: https://secwatch.observer/filing/0001261654-23-000034.txt

## Key facts
- Earnings Releases
  UNIVERSAL TECHNICAL INSTITUTE INC reported fiscal 2023 first quarter ended December 31, 2022 results: revenue $120.0 million, net income $2.6 million. Guidance reaffirmed.
  - Period: fiscal 2023 first quarter ended December 31, 2022
  - Revenue: $120.0 million
  - Net income: $2.6 million
  - Guidance: reaffirmed
  - Result: reported results
  source text: Institute (UTI) and Concorde Career Colleges (Concorde), and together with its segments and subsidiaries is referred to as the “Company”, “we,” “us” or “our.” • Revenue was $120.0 million with Concorde contributing $14.4 million. • Net income of $2.6 million, adjusted net income* of $5.3 million, and adjusted EBITDA* of $14.4 million. • Total new student starts of
  evidence_url: https://www.sec.gov/Archives/edgar/data/1261654/000126165423000034/0001261654-23-000034-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.