secwatch.observer — SEC 8-K summary
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Issuer:     UNIVERSAL TECHNICAL INSTITUTE INC (UTI)
CIK:        0001261654
Form:       8-K
Filed at:   2023-02-08T23:59:59+00:00
Accession:  0001261654-23-000034
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1261654/000126165423000034/0001261654-23-000034-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1261654/000126165423000034/uti-20230208.htm
  HTML page:      https://secwatch.observer/filing/0001261654-23-000034

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer