UTI Q2 FY2024: Rev $184.2M, net income $7.8M, EPS $0.14; raises FY2024 guidance

UNIVERSAL TECHNICAL INSTITUTE INC

2024-Q2 EPS reported $0.31 revenue$358,871,000

Revenue $184.2M (+12.4% YoY); net income $7.8M vs $3.5M; diluted EPS $0.14 vs $0.04.
Adjusted EBITDA $22.6M (+17.8% YoY); total new student starts 5,480 (+18.5%).
UTI segment rev $123.3M (+14.7%), starts +19.6%; Concorde rev $60.9M (+8.2%), starts +17.2%.
Fiscal 2024 guidance raised for new starts, revenue, net income, EPS, and adjusted EBITDA.
Initial FY2025 projections: revenue nearly $800M, adjusted EBITDA margin ~15% (≥100bps expansion vs FY2024).

item 2.02 item 7.01 item 9.01

Key facts

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Earnings Releases SEC 8-K Item 2.02 confidence 0.95

UNIVERSAL TECHNICAL INSTITUTE INC reported the fiscal 2024 second quarter ended March 31, 2024 results: revenue $184.2 million, net income $7.8 million, EPS $0.14. Guidance raised.

Period: the fiscal 2024 second quarter ended March 31, 2024
Revenue: $184.2 million
Net income: $7.8 million
EPS: $0.14
Guidance: raised
Result: reported results

Exact text from the filing

Institute (UTI) and Concorde Career Colleges (Concorde), and together with its segments and subsidiaries is referred to as the “Company,” “we,” “us” or “our.” • Reven ue of $184.2 million representing 12.4% growth versus the prior year period, with UTI and Concorde achieving 14.7% and 8.2% growth versus the prior year period, respectively. • Total new student

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