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Universal Technical Institute(UTI) - 2024 Q2 - Quarterly Results
2024-05-08 20:10
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 ...
Universal Technical Institute(UTI) - 2024 Q1 - Quarterly Report
2024-02-08 13:58
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 December 31, 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 jur ...
Universal Technical Institute(UTI) - 2024 Q1 - Earnings Call Transcript
2024-02-08 01:08
Universal Technical Institute, Inc. (NYSE:UTI) Q1 2024 Results Conference Call February 7, 2024 4:30 PM ET Company Participants Matt Kempton - VP, Corporate Finance Jerome Grant - CEO Troy Anderson - CFO Conference Call Participants Mike Grondahl - Northland Securities Steve Frankel - Rosenblatt Raj Sharma - B. Riley Eric Martinuzzi - Lake Street Alex Paris - Barrington Research Operator Good day, and welcome to the Universal Technical Institute First Quarter 2024 Earnings Call. All participants will be in ...
Universal Technical Institute(UTI) - 2023 Q4 - Annual Report
2023-12-01 21:06
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 ...
Universal Technical Institute(UTI) - 2023 Q4 - Earnings Call Transcript
2023-11-16 00:16
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(UTI) - 2023 Q3 - Earnings Call Transcript
2023-08-09 03:41
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 ...
Universal Technical Institute(UTI) - 2023 Q3 - Quarterly Report
2023-08-08 21:12
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 ...
Universal Technical Institute(UTI) - 2023 Q2 - Earnings Call Presentation
2023-06-05 13:31
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 ...
Universal Technical Institute(UTI) - 2023 Q2 - Earnings Call Transcript
2023-05-13 22:06
Universal Technical Institute, Inc. (NYSE:UTI) Q2 2023 Results Conference Call May 9, 2023 4:30 PM ET Company Participants Matt Kempton - VP, Corporate Finance Jerome Grant - CEO Troy Anderson - CFO Conference Call Participants Raj Sharma - B. Riley Operator Good afternoon, and welcome to the Universal Technical Institute Fiscal Second Quarter 2023 Earnings Conference Call. [Operator Instructions] Please note this event is being recorded. I would now like to turn the conference over to Matt Kempton, VP, Cor ...
Universal Technical Institute(UTI) - 2023 Q2 - Quarterly Report
2023-05-09 21:12
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 March 31, 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 jurisd ...