Universal Technical Institute Q2 revenue $163.8M, adjusted EBITDA $19.2M, reaffirms FY guidance

UNIVERSAL TECHNICAL INSTITUTE INC

2023-Q2 EPS reported $0.07 revenue$283,824,000

Revenue rose 60.5% to $163.8M, driven by Concorde acquisition ($56.3M) and UTI segment +5.4%.
Net income was $3.5M ($0.04 EPS); adjusted net income $6.3M; adjusted EBITDA $19.2M.
Total new student starts 4,626; UTI starts up 4.4% YoY; Concorde contributed 2,252 starts.
UTI segment revenue $107.6M (+5.4%); adjusted EBITDA $20.7M from $21.5M prior year.
Reiterates full-year fiscal 2023 guidance; CEO highlighted new campus/program launches and board appointment.

item 2.02 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.9

UNIVERSAL TECHNICAL INSTITUTE INC reported fiscal 2023 second quarter ended March 31, 2023 results: revenue $163.8 million, net income $3.5 million, EPS $0.04. Guidance reaffirmed.

Period: fiscal 2023 second quarter ended March 31, 2023
Revenue: $163.8 million
Net income: $3.5 million
EPS: $0.04
Guidance: reaffirmed
Result: reported results

Exact text from the filing

Reven ue was $163.8 million with UTI increasing 5.4% versus the prior year period and Concorde contributing $56.3 million • Net income of $3.5 million , adjusted net income* of $6.3 million , and adjusted EBITDA* of $19.2 million . • Total new student starts of 4,626 with UTI increasing 4.4% versus the prior year period and 2,252 contributed by Concorde. • The Company reiterates its full year, fiscal 2023 guidance across all key metrics.

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accession 0001261654-23-000080

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