UTI reports Q3 revenue $177.5M (+15.8%), net income $5.0M, reiterates FY guidance and unveils FY2029 targets

UNIVERSAL TECHNICAL INSTITUTE INC

2024-Q3 EPS reported $0.39 revenue$536,329,000

Revenue $177.5M (+15.8%), net income $5.0M vs loss $0.5M, EPS $0.09 vs ($0.05).
Adjusted EBITDA $18.4M, up 60.9%; average undergrad full-time active students +13.4% YoY.
FY2024 guidance reiterated; revenue and new student starts expected at high end of ranges.
Initial FY2025 target: revenue ~$800M, adj. EBITDA margin ~15% (+100bps).
Organic plan: ~10% avg annual revenue growth, adj. EBITDA margin ~20% by FY2029; six new programs/year from FY2025, two new campuses/year from FY2026.

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