UTI reports Q3 revenue $153.3M (+51.8%), net loss $0.5M; raises FY2023 guidance

UNIVERSAL TECHNICAL INSTITUTE INC

2023-Q3 EPS reported $0.03 revenue$437,110,000

Revenue of $153.3M (up 51.8%) driven by Concorde acquisition; UTI segment revenue $100.9M (-0.1%).
Net loss of $0.5M vs net income $0.8M; adjusted net income $2.0M vs $5.7M.
Adjusted EBITDA $11.4M vs $12.0M; UTI adjusted EBITDA $15.6M vs $20.6M.
New student starts: UTI up 5.3% (first same-store start growth since Q3 2022); Concorde 1,967 starts.
Raised FY2023 guidance: revenue tightened to $602-605M, adjusted EBITDA raised to $62-64M.

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