Universal Technical Institute, Inc. (NYSE:UTI) Q2 2024 Earnings Conference Call May 8, 2024 4:30 PM ET Company Participants Matt Kempton - VP, Corporate Finance Jerome Grant - CEO Troy Anderson - CFO Conference Call Participants Alex Paris - Barrington Research Eric Martinuzzi - Lake Street Raj Sharma - B. Riley Steve Frankel - Colliers Mike Grondahl - Northland Securities Operator Good day, and welcome to the Universal Technical Institute Second Quarter 2024 Earnings Conference Call. All participants will ...

Exhibit 99.1 Universal Technical Institute Reports Fiscal Year 2024 Second Quarter Results Raised Fiscal 2024 Guidance for New Student Starts, Revenue and Profitability Introducing Initial Revenue and Profitability Projections for Fiscal 2025 PHOENIX, ARIZ. - May 8, 2024 - Universal Technical Institute, Inc. (NYSE: UTI), a leading workforce solutions provider of transportation, skilled trades and healthcare education programs, reported financial results for the fiscal 2024 second quarter ended March 31, 202 ...

Part I. Financial Information [Financial Statements](index=5&type=section&id=Item%201.%20Financial%20Statements) For Q1 FY2024, revenues grew 45.6% to $174.7 million, net income rose to $10.4 million, driven by the Concorde acquisition, with strong operating cash flow of $10.8 million Condensed Consolidated Statements of Operations (Unaudited) | Metric | Three Months Ended Dec 31, 2023 | Three Months Ended Dec 31, 2022 | | :--- | :--- | :--- | | **Revenues** | $174,695 thousand | $120,004 thousand | | **Income from operations** | $14,231 thousand | $4,448 thousand | | **Net income** | $10,389 thousand | $2,648 thousand | | **Net income per share - diluted** | $0.17 | $0.02 | Condensed Consolidated Balance Sheets (Unaudited) | Metric | December 31, 2023 | September 30, 2023 | | :--- | :--- | :--- | | **Cash and cash equivalents** | $143,590 thousand | $151,547 thousand | | **Total current assets** | $197,442 thousand | $204,985 thousand | | **Total assets** | $732,413 thousand | $740,685 thousand | | **Total current liabilities** | $181,935 thousand | $184,700 thousand | | **Long-term debt** | $158,962 thousand | $159,600 thousand | | **Total liabilities** | $510,228 thousand | $514,718 thousand | | **Total shareholders' equity** | $222,185 thousand | $225,967 thousand | Condensed Consolidated Statements of Cash Flows (Unaudited) | Metric | Three Months Ended Dec 31, 2023 | Three Months Ended Dec 31, 2022 | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $10,836 thousand | $2,812 thousand | | **Net cash (used in) provided by investing activities** | ($3,848) thousand | $5,245 thousand | | **Net cash (used in) provided by financing activities** | ($15,089) thousand | $88,718 thousand | | **Change in cash, cash equivalents and restricted cash** | ($8,101) thousand | $96,775 thousand | [Notes to Condensed Consolidated Financial Statements](index=12&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes detail two segments, UTI and Concorde, highlight the elimination of Series A Preferred Stock, and show total net debt of $161.5 million - The company operates through two reportable segments: Universal Technical Institute (UTI) for transportation and skilled trades, and Concorde Career Colleges (Concorde) for healthcare education[30](index=30&type=chunk)[31](index=31&type=chunk) - On December 18, 2023, the company repurchased 33,300 shares of Series A Preferred Stock for **$11.3 million** and converted all remaining shares, eliminating future preferred dividend obligations[103](index=103&type=chunk)[104](index=104&type=chunk) Segment Performance (Three Months Ended Dec 31, 2023) | Segment | Revenues | Income from Operations | | :--- | :--- | :--- | | **UTI** | $115,373 thousand | $15,090 thousand | | **Concorde** | $59,322 thousand | $7,128 thousand | | **Corporate** | $0 | ($7,987) thousand | | **Consolidated** | $174,695 thousand | $14,231 thousand | Debt Summary (As of Dec 31, 2023) | Debt Component | Carrying Value | | :--- | :--- | | Revolving Credit Facility | $90,000 thousand | | Avondale Term Loan | $29,039 thousand | | Lisle Term Loan | $37,536 thousand | | Finance lease | $5,400 thousand | | **Total Debt, Net** | **$161,522 thousand** | [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=29&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Q1 FY2024 revenue increased 45.6% to $174.7 million, driven by Concorde and UTI growth, with consolidated new student starts up 89.4% and strong liquidity Student Metrics (Three Months Ended Dec 31) | Metric | 2023 | 2022 | % Change | | :--- | :--- | :--- | :--- | | **Consolidated New Student Starts** | 4,346 | 2,295 | 89.4% | | UTI New Student Starts | 2,314 | 1,974 | 17.2% | | **Consolidated Avg. Active Students** | 22,565 | 21,248 | 6.2% | - Revenue for Q1 2024 was **$174.7 million**, a **45.6% increase** from the prior year, primarily due to the full-quarter contribution of Concorde (**$59.3 million**) and a **9.2% increase** in UTI revenues[128](index=128&type=chunk)[135](index=135&type=chunk) - The company's business strategy focuses on growth, diversification, and optimization, including new program launches and campus expansions[130](index=130&type=chunk)[131](index=131&type=chunk)[134](index=134&type=chunk) EBITDA Reconciliation (Non-GAAP) | Metric (in thousands) | Three Months Ended Dec 31, 2023 | Three Months Ended Dec 31, 2022 | | :--- | :--- | :--- | | **Net income** | $10,389 | $2,648 | | Interest income | ($1,975) | ($823) | | Interest expense | $2,871 | $1,423 | | Income tax expense | $3,160 | $1,525 | | Depreciation and amortization | $6,984 | $5,248 | | **EBITDA** | **$21,429** | **$10,021** | [Quantitative and Qualitative Disclosures About Market Risk](index=38&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20About%20Market%20Risk) No material changes in market risk exposure were reported for Q1 FY2024 compared to the prior fiscal year's annual report - No material changes in the company's market risk exposure occurred during the three months ended December 31, 2023[175](index=175&type=chunk) [Controls and Procedures](index=38&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded disclosure controls were effective as of December 31, 2023, with no material changes to internal control over financial reporting - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of December 31, 2023[176](index=176&type=chunk) - No changes occurred during the quarter that materially affected or are reasonably likely to materially affect the company's internal control over financial reporting[177](index=177&type=chunk) Part II. Other Information [Legal Proceedings](index=40&type=section&id=Item%201.%20Legal%20Proceedings) The company is not currently a party to any material legal proceedings, though it faces routine lawsuits and regulatory matters - The company is not currently a party to any material legal proceedings, though it is periodically subject to lawsuits and regulatory matters in the ordinary course of business[100](index=100&type=chunk)[180](index=180&type=chunk) [Risk Factors](index=40&type=section&id=Item%201A.%20Risk%20Factors) No material changes to the risk factors previously disclosed in the 2023 Annual Report on Form 10-K were reported for the quarter - The report refers investors to the risk factors discussed in the 2023 Annual Report on Form 10-K, indicating no material changes during the quarter[181](index=181&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=40&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) In December 2023, the company repurchased 33,300 Series A Preferred Stock shares for $11.3 million, leading to the conversion of all remaining preferred stock into common stock - In December 2023, the company repurchased 33,300 shares of Series A Preferred Stock for an aggregate price of **$11.3 million** in a privately negotiated transaction[182](index=182&type=chunk)[185](index=185&type=chunk) - Following the repurchase, all remaining outstanding shares of Series A Preferred Stock were converted into common stock[185](index=185&type=chunk) [Defaults upon Senior Securities](index=41&type=section&id=Item%203.%20Defaults%20upon%20Senior%20Securities) The company reported no defaults upon its senior securities during the period - None[187](index=187&type=chunk) [Other Information](index=41&type=section&id=Item%205.%20Other%20Information) No director or officer adopted or terminated a Rule 10b5-1 or non-rule 10b5-1 trading arrangement during the quarter - During the quarter, no director or officer adopted or terminated a Rule 10b5-1 or non-rule 10b5-1 trading arrangement[190](index=190&type=chunk) [Exhibits](index=41&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including CEO and CFO certifications and XBRL data files

Financial Performance - The company reported first quarter revenue of $174.7 million, a 45.6% increase year-over-year, with a full quarter contribution from Concorde of $59.3 million, which increased by $44.9 million compared to the prior year [23][22][26] - Adjusted EBITDA for the first quarter was $24.5 million, reflecting measurable year-over-year growth due to improved operating leverage and cost efficiencies [35][22] - Consolidated net income for the first quarter was $10.4 million, or $0.17 per diluted share [35] Business Line Performance - The UTI division saw a 9.3% year-over-year growth, while student starts in the UTI division increased by 17.2% year-over-year [23][34] - The company launched 14 new programs last year, with strong demand resulting in almost 400 combined student starts across these programs over the last two quarters [18][21] - Concorde's core starts grew by 14.4% on a pro forma basis, with total starts growing by 12.5% [61] Market Performance - The company anticipates generating annual revenue between $710 million and $720 million, with adjusted EBITDA expected to be between $100 million and $103 million [21][65] - The company expects to maintain a strong demand for its healthcare programs, particularly in dental hygiene, which has shown rapid enrollment growth [29][46] Company Strategy and Industry Competition - The company is focused on growth and diversification, with plans to optimize cost structures and drive increased yield from past investments [68][66] - The company is actively managing its revolver draw to minimize interest expenses while maintaining a target of approximately $30 million in capital expenditures for the year [2][8] - The company is exploring additional program expansions and potential M&A opportunities, particularly in the healthcare sector [112][91] Management Commentary on Operating Environment and Future Outlook - Management expressed confidence in the trajectory of student starts and raised full-year revenue and profitability guidance for fiscal 2024 [32][38] - The company noted that the majority of cash flow is generated in the fourth quarter, with expectations for strong unadjusted free cash flow for the fiscal year [8][38] - Management highlighted the importance of maintaining strong relationships with industry partners to enhance student employment outcomes [110] Other Important Information - The company successfully converted its Series A preferred stock into common stock, increasing total common shares outstanding by 19.3 million shares [36] - Total available liquidity at the end of the quarter was $143.6 million, including a $90 million drawdown of the revolving credit facility [64] Q&A Session Summary Question: What is working on the marketing side? - The company has significantly increased its presence in high schools, with representatives conducting multiple career presentations weekly, generating strong interest [69] Question: How is the integration of Concorde progressing? - The integration is moving into more operational aspects, including payroll and benefits, with a focus on optimizing financial systems [127] Question: What are the expectations for revenue and EBITDA growth? - The company expects strong growth in the first half of the year, with a moderation in the second half, but remains confident in achieving its full-year guidance [125][66] Question: What is the current status of the composite score? - The company is comfortably above the 1.5 threshold for the composite score, which is crucial for compliance with the Department of Education [118] Question: What are the priorities for capital allocation? - The company prioritizes growth initiatives and program expansions, while also considering M&A opportunities in the healthcare sector [86][112]

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☑ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended September 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to ______ Commission File Number 1-31923 UNIVERSAL TECHNICAL INSTITUTE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdictio ...

Financial Data and Key Metrics Changes - For fiscal year 2023, the company reported revenue of $607.4 million, exceeding the high-end of guidance, and adjusted EBITDA of $64.2 million, also above expectations [11][36] - Consolidated revenue for Q4 increased by 53.9% to $170.3 million, driven by a $55 million contribution from Concorde and a 4.2% year-over-year growth for the UTI division [36] - Consolidated net income for Q4 was $6.7 million, or $0.10 per diluted share, while for the full year, it was $12.3 million, or $0.13 per diluted share [37] Business Line Data and Key Metrics Changes - The UTI division contributed $429.3 million in revenue with a 2.5% year-over-year growth, while Concorde contributed $178.1 million for the 10 months post-acquisition [36] - UTI experienced a 9% growth in new student starts in Q4, with a total of 22,613 new student starts for the year [11][34] - Concorde launched three new programs in November 2023, including Diagnostic Medical Sonography and Cardiovascular Sonography [15] Market Data and Key Metrics Changes - The company reported strong demand for Concorde's programs, with new student starts in a Cardiovascular Sonography program in Florida and an online Respiratory Therapy program [22] - The Austin and Miramar campuses, launched in 2022, now have nearly 1,100 students combined, indicating a positive trajectory [18] Company Strategy and Development Direction - The company is focused on a multi-year growth and diversification strategy, including expanding into healthcare through the acquisition of Concorde [13][55] - Key focus areas for 2024 include ramping up new campuses, driving enrollment growth, and optimizing marketing and admissions investments [29][51] - The company aims to achieve adjusted EBITDA margins approaching double digits for Concorde in fiscal 2024 [46] Management's Comments on Operating Environment and Future Outlook - Management indicated that while there are no significant macroeconomic tailwinds, they are not facing strong headwinds either, suggesting a stable operating environment [66] - The company expects revenue for fiscal 2024 to be between $705 million and $715 million, representing a growth rate of 16% to 18% year-over-year [43] - Management expressed confidence in achieving fiscal 2024 guidance, which would more than double revenue from fiscal 2021 [55] Other Important Information - Total available liquidity at the end of the quarter was $159.7 million, with total debt approximately $162 million [39] - The company plans to replace adjusted net income with GAAP net income as a guidance metric for fiscal 2024 [47] Q&A Session Summary Question: What are the growth drivers for 2024? - Management identified four key drivers: full year of Concorde, program expansions, UTI organic growth, and Concorde organic growth [63][64] Question: How does the macro environment affect the company? - Management noted that while the macro environment is not providing significant tailwinds, they are not experiencing strong headwinds either, indicating a stable growth outlook [66] Question: What is the expected performance of high school versus young adult student starts? - Management expects continued strong performance in high school starts, supported by investments made in that area [77] Question: What is the status of the 90/10 rule and gainful employment updates? - The company is in the high 60% range for the 90/10 rule and does not foresee any material risk from gainful employment updates [80][81] Question: How is inflation impacting the company? - Management indicated that inflationary pressures are subsiding, and they are not experiencing significant staffing issues [93][100] Question: What is the status of the Series A preferred stock conversion? - Management expressed optimism about achieving the conversion trigger based on recent trading momentum [96]

Universal Technical Institute, Inc. Q4 2023 Investor Presentation November 15, 2023 Forward-Looking Statements Investor Presentation This presentation contains forward-looking statements within the meaning of the safe harbor from civil liability provided for such statements by the Private Securities Litigation Reform Act of 1995 (set forth in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). Forward-looking statements may contain word ...

Universal Technical Institute Inc (NYSE:UTI) Q3 2023 Results Conference Call August 8, 2023 4:30 PM ET Company Participants Matt Kempton - Vice President of Corporate Finance Jerome Grant - CEO and Director Troy Anderson - Executive VP and CFO Conference Call Participants Steve Frankel - Rosenblatt Raj Sharma - B. Riley Eric Martinuzzi - Lake Street Operator Hello and welcome to Universal Technical Institute’s Third Quarter Fiscal 2023 Earnings Conference Call. All participants will be in a listen-only mode ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q (Mark One) ☑ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _____ to ______ Commission File Number: 1-31923 UNIVERSAL TECHNICAL INSTITUTE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdi ...

May 9, 2023 Universal Technical Institute Q2 FY23 Financial Supplement Forward-Looking Statements Financial Supplement This presentation contains forward-looking statements within the meaning of the safe harbor from civil liability provided for such statements by the Private Securities Litigation Reform Act of 1995 (set forth in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended). Forward-looking statements may contain words such as "goa ...