secwatch.observer — SEC 8-K summary
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Issuer:     UNIVERSAL TECHNICAL INSTITUTE INC (UTI)
CIK:        0001261654
Form:       8-K
Filed at:   2023-08-08T23:59:59+00:00
Accession:  0001261654-23-000089
Event type: earnings
Sentiment:  neutral
Materiality: 0.70
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1261654/000126165423000089/0001261654-23-000089-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1261654/000126165423000089/uti-20230808.htm
  HTML page:      https://secwatch.observer/filing/0001261654-23-000089

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